I bought a house in Italy for 1 euro and it wasn't at all what I expected....

Italy's "Euro-bankrupt" towns have hit the headlines in recent years. In neglected Italian towns, dilapidated properties are being sold for a nominal price. However, despite the stated value, many of these properties require complete renovation.

Many Britons have shared their experiences of buying such "Euro-bankrupts". The Italian "Euro-bankrupt" program has become popular, but how simple and straightforward is it?

Danny McCubbin

The 58-year-old, who lives in London and worked for Jamie Oliver's team for 17 years, decided to buy one of the "Euro-bankrupt" restaurants in Sicily after reading about them. He initially raised €25,000 to turn it into a community food project. He told Mail Online: 'I liked the fact that the whole process was clear and transparent.

However, he soon had to sell the property at a token price because of all the problems he faced, including property registration fees and legal costs, which can reach thousands of euros. He also had to deal with rising construction costs and a lack of builders due to the pandemic. After realizing he didn't have enough money to rebuild, he sold the house back for €1 but lost €3,000 in the process. But it wasn't all bad - he said he had no regrets as he found other properties, met new people and now holds Italian citizenship.

Other Brits have had better luck

Jose Ramos, 43, of Milton Keynes, bought two such properties before the COVID-19 pandemic, one of which has already been renovated.

Other success stories include Eli Halavani, 73, from Israel, who bought a huge house for €2 with the intention of turning it into a guest house, and Tonia and Stephen Brower from California, who bought and renovated a property to move to a newer part of town. Solar consultant and entrepreneur Rubia Daniels bought and refurbished three €1 properties in Mussomeli, Sicily, but warned the renovations would cost tens of thousands of pounds. She said: "People have to be realistic: if you sell me a house for 1 euro, I understand that I will have to renovate it. They revitalize the city, that's why houses are sold for €1. Then you have to do the renovation work."

Here's everything you need to know about buying and remodeling a €1 house in Italy. Is it true that many of these properties require a lot more work than you might think?