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Italy's homes for 鈧�1 or 鈧�100,000

It's hard to beat. Facing a sharp population decline in some regions, Italy has launched the famous 鈥溾偓1 homes鈥� initiative to bring new life to small towns. In 2025, villages like Bivona, Mussomeli, Sambuca di Sicilia (all in Sicily), and Ollolai in Sardinia are among the communities taking part. Sicily was the pioneer, rolling out its 鈧�1 homes back in 2017.

Of course, the real price is much higher than the symbolic euro. Buyers must cover renovation work, notary fees, and other costs associated with the purchase.

Another attractive program, though slightly pricier, can be found in Trentino, a province in northeastern Italy. Here, locals and newcomers alike can buy abandoned houses for around 鈧�100,000 and enjoy an exceptional Alpine lifestyle. The catch? Buyers must commit to staying at least ten years or renting out their property long-term. Purchases are also capped at three homes per buyer to prevent speculation.

Whether for 鈧�1 or 鈧�100,000, the goal is the same: to revive the soul of these towns, not to create secondary homes for wealthy investors.

France's 鈧�1 homes with strings attached

France has also experimented with 鈧�1 homes to breathe life back into depopulated towns. Shrinking populations often trigger a vicious circle: schools, pharmacies, shops, and public services close down, while dilapidated houses become expensive to maintain.

Roubaix, in northern France, was the pioneer, launching the scheme in 2018. Though now completed, the program specified that homes came 鈥渨ith renovations.鈥� Some municipalities have been offering 鈧�1 homes鈥攍ike Ambert, in the Auvergne-Rh么ne-Alpes region鈥攂ut with strict deadlines (applications had to be submitted by September 30, 2025.).

As in Italy, these homes come with conditions. Buyers must commit to living in the town and completing renovations within a set timeframe. And once again, the 鈧�1 price tag is just a starting point. Early in 2025, the 鈧�1 house offered in Saint-Amand-Montrond was sold, but renovation costs are estimated at 鈧�130,000.

Not all experiments have gone smoothly. In Saint-Chamond, buyers discovered serious water damage in one of the 鈧�1 houses. After costly repairs, the program was discontinued in 2022 following the renovation of its final property.

Japan's tax breaks for homeowners

鈥淏uy now to secure your future.鈥� That could be the motto for Japan's younger generation of homebuyers. Unlike in the past, when most buyers were in their 40s or 50s, the trend today is driven by people in their 20s and 30s. Many are purchasing condominiums, seeing real estate as a safe, long-term investment amid rising housing costs and uncertainty around pensions.

The government actively supports this trend through tax incentives. The Housing Loan Tax Deduction program allows new-build homeowners to deduct 0.7% of their remaining mortgage balance annually for 13 years. For existing homes, the deduction lasts 10 years.

Another major initiative is the Regional Revitalization Program, launched in 2009 to ease congestion in big cities like Tokyo and Osaka and repopulate rural areas. Participants receive financial support to test life in the countryside and settle there if it suits them. After a slow start (fewer than 100 candidates in 2009), the program has taken off: in 2021, 6,015 people signed up, most of them young professionals. The majority chose to stay permanently in rural Japan. The initiative also appeals to foreigners鈥�140 expats have already joined.

What about tenants?

Tenants aren't left out. In many countries, governments or agencies provide financial support or incentives. For example, in Australia, housing assistance programs offer rent subsidies. In Canada (especially Quebec), there's a housing allowance program that helps eligible renters. In France also, tenants can apply for personal housing benefits.

Real estate agencies themselves also use perks to attract renters, especially foreigners. In Japan's major cities, it's not unusual to see offers like one month's free rent, no security deposit, or no reikin (a traditional 鈥渒ey money鈥� fee paid to landlords).

In the United States, several states have launched projects to revitalize communities. Some, like the Atlanta Housing Initiative, go beyond providing affordable housing by promoting stronger community life. In Texas, the Tenant-Based Rental Assistance program offers financial support. Austin, ranked as the fifth most affordable city in the U.S., has gone further, providing not only rent aid but also administrative and social support to help families find housing, schools, and community resources.

The goal, once again, is to attract more workers and families to these regions.

Housing discounts: What to watch out for as an expat

Real estate remains a favorite investment for many expats, but caution is key. Before jumping on what looks like a bargain, make sure it truly is one. Here are some practical tips:

• Read your contract carefully. Pay attention to the language it's written in鈥攑oor translations can cause disputes. Ensure that terms are clear and consistent.
• Watch out for illegal clauses. Some added conditions may not be legally enforceable.
• Inspect thoroughly. Don't just buy based on the price. Visit the property multiple times, ideally with a trusted professional, and note any hidden defects. The same applies to rentals鈥攄ocument any issues during the move-in inspection.
• Budget realistically. No one is selling you a 鈥渢urnkey鈥� home for 鈧�1. Expect major renovation bills, asbestos removal, or other costly work.
• Know your limits as a tenant. Some rental contracts restrict what renovations or changes you can make.
• Don't rush. Even if an offer expires in two days, take the time to reflect. Don't let pressure or impulse dictate your decision.

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