We paid €30,000 for our Italian holiday home – locals are desperate to sell
A retired couple from Brighton say they cannot believe how lucky they are after they bought a villa holiday home in southern Italy for a mere €30,000 – a full €20,000 under the asking price.
Brenda and Thomas Knight, both 75, from Brighton, travelled to the region of Basilicata last month, where they purchased a four-bedroom cottage complete with garden, orchard, olive trees and even a swimming pool.
They plan to use their new Italian abode as a holiday retreat.
“We were amazed by the good shape of the house; it needed no fixing, just a coating of fresh white paint on the walls. It was practically turnkey. A similar property would be more than £800,000 in Brighton,” Mrs Knight tells i.
The couple, both former public sector employees working in environmental protection, had heard through word of mouth from friends that many ready-to-occupy homes were on sale for very low prices in Basilicata’s depopulated hamlets, some even refurbished, with appliances and utensils.
The house was sold in ‘good shape’, the couple said, with no fixing required (Photo: Supplied)
“Local owners are apparently so desperate to offload these abandoned empty buildings which they no longer use that they’re open to negotiate on the price and accept bargain offers,” says Mr Knight.
“They didn’t even bat an eye when we proposed €30,000 to knock down the initial price. We never thought they’d accept €20,000 less, but they did and were even happy. The same day we signed the purchase deed, the four of us went out to celebrate with an aperitivo and mozzarella finger foods.”
The couple was told that many of the locals who offload these cottages, which are usually second homes, want to get rid of the burden of maintenance and avoid paying property taxes and utilities.
‘We were amazed by the good shape of the house; it needed no fixing, just a coating of fresh white paint on the walls. It was practically turnkey,’ Mrs Knight said (Photo: Supplied)
The Knights say they did not buy the house with the aim of escaping to the Continent from a post-Brexit UK, nor do they have any future plans to relocate to Italy, but will be using their new Basilicata abode as a summer home to share with friends and relatives.
“We’re okay with the 90-day rule for Brits travelling to Europe – it doesn’t really bother us. We love this corner of Basilicata, quiet and pristine, but could never live here for ever. We like to change and move around Europe,” says Mrs Knight.
The rural area of Basilicata where their cottage is located is wild and far from the busy tourist areas on the coast, and the region is now luring more international house-hunters looking for great deals.
An American artist, Bingwa Thomas, described how he had recently secured another great deal in the nearby hamlet of Varrazzo.
Bingwa Thomas secured a property in the hamlet of Varrazzo for €39,000 which he intends to turn into an artists’ residence (Photo: Supplied)
Mr Bingwa, 72, found owners who were more than happy to negotiate on the starting price of €50,000, which he eventually convinced them to reduce by more than €10,000, to €39,000.
The 250-square-metre, one-floor independent turnkey old house has multiple bedrooms, and came complete with furniture, kitchen utensils, cleaning supplies, a cellar and a storage room with a wood-burning fireplace. It also has a garage – a luxury in tiny villages – a patch of land with a mini-vineyard, and two annexed smaller cottages.
Read Next
Sunak defends ‘polite’ Biden after claims of ‘wandering’ in G7 video
World
Sunak defends ‘polite’ Biden after claims of 'wandering' in G7 video
Read More
Mr Bingwa, who also owns another house in another village in Basilicata, says he plans to use the new property as an artists’ compound and residence. He says he hopes it will become “a multi-purpose arts complex with accommodations for visiting international youth and adult artists that will collaborate with local student and adult artists”.
According to Vincenzo Castellano, a local estate agent who liaises between owners and buyers, and who has created an online sales platform, the family that sold the house to Mr Bingwa would have accepted an even lower offer.
“People over here are very, very open and happy to negotiate on prices. They want to sell houses they no longer use or want, because there’s no point in keeping vacant properties with enormous potential just rotting under the sun,” says Mr Castellano.