Why are Chinese buyers flocking to pick up houses in Sicily? It’s not only because they once cost €1
- Abandoned homes in Sambuca were first put on the market for €1, but authorities were forced to auction them after receiving thousands of offers
- Buyers from China are supposedly attracted to the local lifestyle because they want to escape the stress and smog of their own cities
The last thing Sambuca’s deputy mayor Giuseppe Cacioppo expected when he ingeniously offered empty houses for just €1 (US$1.11) was to see a young Chinese businesswoman rush in, eager to snatch one up.
“She was the first to arrive in January, dressed in Armani and Chanel worth €10,000,” recalls Cacioppo, who admits he was flabbergasted by the encounter.
As an attempt to revive this idyllic yet depopulating rural Sicilian town, the cut-price sale was wildly successful.
Sambuca di Sicilia is located in an untouched part of rural Sicily, even though the ancient village is only an hour from the capital Palermo. With a population of roughly 6,000 people, it is a picturesque hamlet of attractively aged buildings and palm trees. And it is proving a magnet for Asian buyers.
“The lady hopped on a plane as soon as she heard the news about the property fire sale and hired a limousine to take her here, accompanied by a Chinese male friend, but she did all the talking,” Cacioppo says.
“She wanted to buy an abandoned old dwelling with an Arab-style courtyard. She really insisted the house had a terrace, patio or small garden where she could relax and take in the view. I gave her a personal tour of the town and showed her all available properties. She was struck by the beauty of Sambuca.”