What we’re really looking for isn’t another property transaction. It’s people who want to become part of something we’ve already begun building.
Six months ago, an American considering the purchase of a €100,000 home in Italy would have needed approximately $116,850. Today, the very same property would cost around $112,060. That’s almost $4,800 less, without anybody having to negotiate a single euro off the asking price. British buyers have also benefited: over the same period, the sterling cost of that property has fallen from approximately £87,053 to £84,763, a difference of nearly £2,300. Currency markets, it seems, have decided to offer a little encouragement to anyone considering a future in Italy.
Naturally, exchange rates can move in either direction, and nobody should decide to purchase a property simply because the euro has had a difficult few months. Nevertheless, the figures offer an interesting starting point, particularly for people who have spent years imagining a home in an Italian village without ever quite getting around to investigating what it might actually involve. Which brings us to a perfectly reasonable question: what on earth can you buy in Italy for €100,000? A crumbling farmhouse? A roofless ruin? A romantic collection of stones requiring three architects, two solicitors, a small army of contractors and an especially cooperative local priest before anyone can safely switch on the electricity?
Not necessarily. And perhaps this is a good opportunity to explain what ITS Italy actually does, because we’re not an estate agency, we don’t sell €1 fantasies, and the properties we own or develop represent only a fraction of the projects we’re working on across the country.
In this article
1. Real homes, real places - what we’re developing across Italy
2. Beyond our portfolio - how we work with clients and why our projects can save months of unnecessary complications
3. From completed homes to new developments - reservations, staged payments, rent-to-buy and practical assistance
4. Our ethos - why we invest in communities rather than simply trading properties
5. Moving to Italy - immigration, taxation and the practical realities of relocation
6. Join us - how to explore a property, a project or a wider regeneration initiative
7. Research, books and ITS Journal - our three NOMAG Research Books and a special subscription offer
8. Corporate and legal information
1. Real homes, real places. And no, we’re not talking about €1 houses.
Italy’s famous €1 house programmes have generated some of the most irresistible international property headlines of recent years. A beautiful medieval village, a handful of abandoned buildings and the suggestion that an entire new life might be available for the price of an espresso. We know the story rather well. In fact, we’ve researched it extensively and published an entire book about it, Debunking Italy’s €1 House Effect, examining what these schemes have actually achieved in terms of property transactions, renovation, new residents and local regeneration.
There’s nothing inherently wrong with restoring an abandoned property, and we’ve certainly undertaken our share of complicated renovations. But there’s a substantial difference between purchasing something for one euro and acquiring a home in which a person can realistically live. What appears to be a bargain can rapidly become a rather expensive exercise in construction management, regulatory compliance and patience. We prefer to begin from a different premise: a home should be a home, a budget should reflect reality, and the process of acquiring or developing a property shouldn’t become an unexpected second career.
Over the past five years, ITS Italy has been involved in more than 150 property transactions. Our activities extend across Tuscany, Sardinia, the Marche, Umbria, Sicily and Puglia, with additional projects and opportunities in other regions. Some properties are already finished and habitable, others are currently generating rental income while waiting for their full-time residents, some require only their final finishing touches, and others are re-development projects for which the technical work, planning and relevant authorisations have already been prepared. We aren’t claiming that every property is available for immediate occupation, or that every project has the same timetable. Quite the opposite: we’re interested in making those differences clear before somebody decides to become involved.
Consider Buriano, in the Tuscan Maremma, where we’ve already completed the renovation of a residential property that is currently rented and producing income, with the existing tenancy scheduled to continue until spring 2027. This is not an attractive architectural rendering promising what a building might become. It’s a completed home, already in use, demonstrating how a property in a small Italian village can have an economic purpose while its eventual owner considers a different future for it. Naturally, the precise timing of any subsequent personal occupation depends on the existing tenancy and applicable arrangements.
In nearby Roccastrada, we’re working with several residential opportunities covering a broad spectrum of budgets, from relatively accessible properties in their existing condition to more substantial turnkey solutions. These aren’t anonymous buildings collected from online advertisements, but projects whose technical requirements, local circumstances and development possibilities we’ve already examined. In Ozieri, Sardinia, meanwhile, we’re involved with homes at particularly accessible price levels, including properties that are already habitable and may require little more than modest improvements or personalisation. For people who assume that purchasing a home in Italy inevitably involves either a six-figure commitment or a ruin requiring complete reconstruction, these are useful examples of a more practical middle ground.
Our activities in the Marche include Montedinove, where we’ve been working on a building in the historic centre with the potential to create separate residential units. It’s a particularly interesting example of how an existing property can become part of a wider approach to reactivating a village, rather than simply remaining another underused building. Umbria is another significant area of our work, where property development sits alongside broader questions of local services, infrastructure and the potential for new residents and economic activity. We’re interested not only in finding attractive buildings, but in understanding what makes the surrounding community a place in which people might genuinely want to spend their lives.
Sicily is equally important to our activities, particularly the Madonie Regione and Mussomeli. These territories illustrate both the opportunities and the contradictions of Italy’s smaller communities: remarkable places, often with extraordinary buildings and comparatively accessible property markets, but also facing demographic, economic and practical challenges that cannot be resolved simply by attracting another international buyer. Mussomeli is among the communities examined in our research into the €1 house phenomenon, but our interests there and elsewhere on the island extend well beyond those initiatives. We’re concerned with what happens after the headlines, when properties need to be restored, people need somewhere to live and communities need functioning economic and social relationships.
And in Puglia, particularly around Lecce, our projects include Caprarica di Lecce, where we’ve been developing a more substantial residential opportunity combining contemporary comfort, energy efficiency and a swimming pool. It’s a useful reminder that our work isn’t confined to the lowest possible purchase price. Different homes, different budgets and different expectations can all fit within the same approach, provided the project makes sense in its particular context.
These are examples, not an exhaustive inventory of available properties. They cover a wide range of price brackets, from modest five-figure opportunities to more ambitious residential developments, and their availability and completion status vary. We also have other projects at different stages of preparation in additional parts of Italy. What connects them isn’t a standardised property product, but our involvement in the places themselves and the work we’ve already undertaken to make particular opportunities possible.
[Image placement: photographs of Buriano, Roccastrada, Ozieri, Montedinove, the Madonie/Mussomeli and the Lecce area, distributed alongside the relevant paragraphs. Prefer actual ITS Italy properties wherever available.]
2. Our portfolio is only a fraction of what we actually do.
There’s something important to understand about ITS Italy: the properties we own, directly develop or present within our own portfolio represent only a small part of our overall activity. We’re continually identifying, preparing and developing projects for clients and alongside them, sometimes participating financially ourselves and sometimes contributing the experience, local knowledge, technical coordination and operational groundwork required to turn somebody else’s ambition into a viable project. In many cases, the property never becomes part of our own portfolio at all. Our work is not measured simply by the number of houses available for sale, and our ability to collaborate with somebody doesn’t necessarily depend on whether we already own the building they have in mind.
But there’s a particular reason why we’re pleased to show people the properties and developments in which we’ve already invested. These are opportunities where much of the difficult preliminary work has been undertaken: identifying suitable buildings, examining their circumstances, developing architectural and technical plans, dealing with relevant approvals, understanding the local environment, assessing the works and establishing relationships with professionals and contractors. In some cases, we’ve already completed the whole process and brought the property into productive use. In others, we’ve prepared the project so that its next stage can begin with a far clearer understanding of what is involved.
For somebody approaching the Italian property market from London, New York or elsewhere, this can mean avoiding months of research, negotiations, bureaucracy and the rather exhausting experience of assembling an entirely unfamiliar team of people. We certainly aren’t suggesting that purchasing property in Italy requires no independent due diligence, that every authorisation is identical or that a development can never encounter an unexpected complication. But there is a considerable difference between starting with a building about which you know almost nothing and joining a project in which somebody has already invested substantial time, money and professional effort.
We have done a great deal of that work ourselves, and we’ve learnt lessons along the way, occasionally rather expensively. We’d prefer our future partners and clients to benefit from that experience rather than repeat every mistake independently. And if none of the properties in our existing portfolio is quite right for you, there’s no reason the conversation should end there: a significant part of what we do involves creating or developing projects with people who have their own needs, budgets, ideas and ambitions.
Our portfolio, in other words, isn’t the limit of what we can do. It’s a selection of cases where we’re already prepared, where we’ve made an investment of our own and where somebody joining us may be able to save months of unnecessary headaches.
3. From completed homes to projects ready to begin: finding a sensible way forward.
Not everybody considering a home in Italy is at the same stage of life, and there’s no particular reason everybody should follow the same purchasing process. Some people want a property that’s already finished and available for occupation; others would prefer a home generating rental income while they organise a future move. Some are happy to undertake limited finishing work, particularly if that allows them to personalise the property, while others are interested in a project where the technical plans and necessary approvals have already been prepared and work can proceed according to an agreed programme.
This is the range of situations in which we operate. With our own developments, our objective is to have the project properly assessed and documented before asking somebody else to become involved. Where a property is presented as ready for construction, the relevant approvals, outstanding requirements and scope of works need to be identifiable and verifiable. That preparation is one of the things in which we’ve already invested, and it allows the next participant to concentrate on understanding the project rather than discovering whether it is feasible in the first place.
Naturally, some people rather enjoy the idea of buying an abandoned farmhouse, arriving in Italy with a toolbox and spending the next three years negotiating with builders. Television has done a magnificent job of turning that experience into entertainment, and if that’s genuinely how you’d like to spend your time, we wish you every success. We’ve experienced enough of the less entertaining episodes ourselves to know that many people would prefer something rather different. Perhaps you have a business, a family, a demanding job or simply better things to do than devote every holiday to discussing plumbing, windows and the architectural mysteries of a bathroom wall. We live in the real world, where time is valuable and repeatedly solving problems that somebody else has already solved is not necessarily an admirable use of it.
There’s also the question of how to finance a project and how quickly to become involved. For selected developments planned for 2027, an initial reservation may begin with €5,000, subject to the property’s availability and the terms of the relevant agreement. Some opportunities may allow staged payments or, where appropriate, a rent-to-buy structure, enabling a prospective purchaser to approach ownership gradually under clearly documented conditions. Not every property lends itself to these arrangements, and we don’t believe people should commit money before understanding exactly what they’re agreeing to.
Nor does every potential participant necessarily want a home for themselves. Some may be interested in working with us on a property intended for somebody else, while others may wish to explore a wider regeneration initiative in a community where we’re already active. These possibilities require different contractual structures, risk assessments and, where relevant, regulatory checks. We’re not presenting them as universally available financial products or promising returns. We’re simply interested in exploring responsible ways for people to participate in projects that might otherwise remain beyond their immediate reach.
The practical relationship doesn’t necessarily end when a property is completed or transferred, either. Owning a home in Italy while living abroad can involve organising utilities, maintaining the property, arranging local services, supervising finishing works or dealing with administrative matters that are much easier when somebody familiar with the place can help. Where agreed, our local relationships and project activities can provide or coordinate practical assistance, while appropriately qualified independent professionals undertake legal, technical, fiscal and other regulated work. We don’t promise to eliminate every difficulty, but we do believe that working with people already established in the community is preferable to trying to manage everything from several thousand miles away.
4. Our ethos: investing in places before inviting other people to believe in them.
One of the most persistent misunderstandings about Italy’s smaller communities is that their problems can be solved simply by finding buyers for empty buildings. There are plenty of inexpensive houses throughout the country, and some are inexpensive for perfectly understandable reasons. A village with few services, limited economic opportunities and a steadily declining population doesn’t automatically become a thriving community because somebody from abroad purchases a second home there. Property transactions can be useful, but they’re not the same thing as regeneration, and we think the distinction deserves considerably more attention than it usually receives.
Our approach begins with the place rather than the individual building. We look for communities where we believe there are opportunities worth developing, perhaps because of their location, existing social fabric, entrepreneurial potential, underused buildings, local services or the possibility of attracting new residents who could contribute to everyday life. Sometimes our involvement begins with a residential renovation; sometimes the opportunity is a small business, a service, a productive use for an existing space or a combination of different activities. We believe housing, economic life and community relationships need to be considered together, particularly in villages where the disappearance of even one shop or essential service can have consequences far beyond the business itself.
We’ve put our own money into these places, but money is only part of the commitment. We’ve also invested time, work, relationships, professional expertise and reputation, accepting risks that are far easier to discuss in a presentation than to confront in practice. Not every idea works, not every project progresses exactly as expected and not every community will develop in the direction we hope. That’s precisely why we believe credibility begins with doing something ourselves rather than merely suggesting that somebody else should take the risk.
We aren’t particularly interested in creating places that look wonderful in August and fall silent for the remaining eleven months. Nor do we expect every person who joins one of our projects to relocate permanently from day one. People have commitments, families, careers and different ways of approaching major life changes. Someone might begin with a few months in Italy each year, perhaps while continuing to work remotely, and gradually discover whether a deeper connection makes sense. What matters is the possibility of becoming part of a community rather than simply consuming its appearance.
That’s what we stand for: real homes rather than property fantasies, communities rather than isolated transactions, investment accompanied by responsibility, realistic budgets and gradual participation rather than financial recklessness. We believe in professional competence, transparency about difficulties and relationships that continue beyond the completion of a contract. Above all, we believe the people involved matter more than the immediate transaction, because the future of a village depends on what happens after the property has been bought.
We’re not looking for everybody. We’re looking for people who recognise something in these places, who understand that village life isn’t a permanent holiday and who might want to contribute, in different ways and at different levels, to the future of communities in which we’ve already chosen to invest.
5. Buying a home is one thing. Moving to Italy is another.
There’s another subject we would rather discuss before somebody makes a major decision, especially if they’re arriving from the United States or the United Kingdom: the legal and fiscal realities of living across borders. Property ownership and immigration status are two entirely separate questions, and buying a home in Italy does not automatically confer the right to live here permanently. British citizens are now subject to the relevant rules applying to non-EU nationals, just as Americans are, and the requirements for somebody retiring, working remotely, operating a business or relocating with family members may be very different.
Taxation requires equally careful consideration. Depending on where you currently live, how long you intend to spend in Italy, the sources of your income and the way your personal or business affairs are organised, moving may create obligations in more than one jurisdiction. Foreign pensions, rental income, overseas employment, remote working, business ownership and the possible application of Italian tax provisions deserve individual analysis. Some immigration routes or fiscal arrangements may be attractive to particular people, but eligibility cannot be assumed, and there is no universal solution suitable for every prospective resident.
We don’t provide regulated immigration, legal, financial or tax advice ourselves, and we have no intention of pretending otherwise. Where appropriate, we facilitate introductions to independent, suitably qualified professionals who can assess the relevant questions, including conveyancing, notarial matters, tax planning, residence permits and other specialist requirements - and we coordinate them, because dealing with more than one could be even more confusing. We can also help identify the practical issues that need addressing in connection with a particular property or local project, without replacing the professional advice each person should obtain independently.
It might not sound quite as romantic as an afternoon spent imagining long lunches beneath an olive tree, but we believe understanding these matters before making a commitment is considerably more useful than discovering an unexpected problem six months later. Our objective is to help people approach an Italian life as something real and sustainable, rather than a beautiful idea that becomes unnecessarily complicated once the paperwork begins.
6. Perhaps the first step isn’t buying anything. It’s having a conversation.
If you’ve read this far, perhaps you’re interested in a particular region, a completed property, a home that could generate income before you relocate, or a development project where some of the more complicated work has already been undertaken. Perhaps you’d like to explore a rent-to-buy arrangement, understand whether a relatively modest initial commitment could allow you to plan a future purchase, or discuss a project that doesn’t yet exist within our current portfolio. Or perhaps the aspect that interests you most is participating in the wider regeneration of a community, rather than acquiring an Italian home for yourself.
We don’t expect everybody to arrive with the same budget, circumstances or ambitions, and we’re certainly not going to pretend that every opportunity is suitable for everybody. What we can offer is a conversation about the projects we’re actually working on, the communities where we’re involved and the possible ways of developing something together. Sometimes the right answer may be one of the properties we’ve already prepared; sometimes it may be an entirely different project, shaped around your objectives and the opportunities available in a particular place.
You can write to info@itsfor.it or simply leave a comment below this article, telling us what interests you. Perhaps mention the type of property or project you’re considering, whether you’re thinking about a future relocation, occasional use or something more entrepreneurial, and which aspects of Italian life appeal to you. We’ll respond with information about relevant activities and opportunities where available; detailed personal or financial matters can then be discussed privately rather than in a public comments section.
The exchange rate may have provided a useful reason to reconsider the idea of owning a home in Italy, but we hope it won’t be the only reason you get in touch. We’ve already invested our own resources in places where we believe something worthwhile can happen, and we’re interested in meeting people who might want to help shape that future. We’re not offering an imaginary postcard version of Italy; we’re inviting people to explore the real one, with its opportunities, imperfections and occasionally infuriating complications included.
7. We don’t just work on these questions. We research them.
Our involvement in housing, relocation and village regeneration isn’t limited to individual projects. Through ITS Journal, NOMAG Research Books and collaborations including We the Italians, we’re also interested in understanding the wider economic, demographic and social questions that shape the future of Italy’s smaller communities. Practical experience gives us a particular perspective, but it doesn’t automatically make our assumptions correct, and we believe research should challenge the ideas of practitioners just as practitioners should challenge assumptions that look convincing on paper.
In September 2026, we presented the first three volumes of NOMAG Research Books at the Centro Studi Americani in Rome. The collection addresses three related questions: who might come to Italy, what happens when international attention turns towards its housing, and how people’s relationships with the country change after they actually begin living here.
AT LAST, ITALY… AT LEAST TEMPORARILY examines digital nomads and internationally mobile professionals, drawing on 1,056 survey responses to investigate their expectations, professional circumstances and relationship with potential destinations.
DEBUNKING ITALY’S €1 HOUSE EFFECT explores one of the country’s most celebrated international property stories, looking beyond the headlines to examine transactions, renovations, housing markets and the actual arrival of new residents.
RELOCALS — PRELIMINARY FINDINGS, developed with ITS Italy and We the Italians, examines the experiences of people who have moved to Italy from abroad and the changes that occur when a temporary adventure gradually becomes a longer-term life.
Some of those preliminary findings deserve attention. Among respondents to RELOCALS, 64.1% hadn’t originally expected to remain in Italy for as long as they did, while 75.7% say living in the country has changed the way they describe it to other people. Perhaps most strikingly, 65% report never having been involved by an Italian organisation or institution. It’s an important reminder that attracting international attention is one thing; understanding, involving and retaining people who have already arrived is another.
These publications aren’t property brochures, and we don’t regard them as evidence that every initiative we undertake will succeed. They’re research projects intended to contribute to a wider discussion about mobility, housing, population change and the practical conditions required to make smaller communities viable. If you’re considering an Italian home, or simply interested in what might happen to the country beyond its major cities and tourist destinations, we think they’re worth reading.
A special ITS Journal offer: three research books and a year of discovery
To make the research more accessible, we’re proposing a special first-year subscription offer for new ITS Journal paid subscribers: £25 instead of the regular £50 annual price, a 50% discount. The subscription includes access to the available complete digital editions of all three NOMAG Research Books in English and Italian, together with ITS Journal premium articles and additional subscriber research published during the subscription period.
It’s a modest investment in understanding the Italy that exists beyond the clichés, the property headlines and the endless television programmes about restoring abandoned farmhouses. And, if you’re contemplating a significant decision involving your future in the country, perhaps not a bad place to begin.
Explore the books and subscriber benefits: https://www.itsjournal.com/perks
The £25 first-year subscription is a proposed limited-time promotion and must be activated through Substack before it can be purchased. Subsequent renewals would be charged at the applicable standard annual rate unless cancelled. Printed editions are not included.
[Image placement: official three-volume NOMAG Research Books mockup, followed by the £25 / £50 — 50% OFF subscription graphic.]
8. Corporate, legal and regulatory information
Corporate identity and nature of activities. ITS Italy is an initiative associated with ITS ITALY LTD and ITS for ITALY LTD, two private limited companies incorporated in England and Wales. Individual properties, development activities and regeneration initiatives may involve participated Italian companies, other identified project companies, property owners or contractual counterparties, whose precise legal interests and responsibilities must be established through the relevant transaction documentation. UK incorporation does not exempt any activity from applicable Italian law or the regulatory requirements of other relevant jurisdictions.
Real estate and development activities. ITS Italy does not hold itself out as a regulated estate agency or real estate brokerage. Its activities include selected proprietary property interests, property development, operational collaboration and community-regeneration projects. Where activities constitute regulated real estate mediation or require specific licences or authorisations, they must be undertaken by appropriately authorised persons. The legal characterisation of an activity depends on what is actually performed, irrespective of the terminology used in promotional or editorial materials.
Properties, availability and technical documentation. All references to properties, indicative budget ranges, habitability, rental income, occupancy arrangements, renovation status, planning approvals and expected completion dates are provided for general information and require individual verification. An approved project, a completed technical design and an immediately executable building programme are not necessarily equivalent. The specific legal, technical and administrative status of each property, including any outstanding approvals or formalities, must be verified from the relevant documentation. No guarantee is made concerning future rental income, appreciation, vacancy dates, completion schedules or the absence of unexpected construction costs.
Reservations, payments and alternative purchase arrangements. Any reservation deposit, including the illustrative €5,000 initial commitment mentioned in this article, is subject to the availability of the relevant project and the provisions of an appropriate written agreement. Purchase prices, payment schedules, refund and cancellation rights, consequences of withdrawal, taxes and additional transaction costs must be disclosed and reviewed before any payment. Staged-payment or rent-to-buy arrangements are considered individually and are not automatically available for all properties. Nothing in this article constitutes an offer of regulated consumer credit, mortgage finance or other financial services.
Investment participation and financial risks. References to investing alongside ITS Italy, collaborating on a development project, participating in property intended for other occupants or supporting wider community-regeneration initiatives are general descriptions of possible commercial relationships, not offers of securities, collective investment interests or other regulated investment products. Any specific arrangement requires independent legal and regulatory assessment, suitable contractual documentation, clear identification of risks and compliance with applicable laws in the relevant jurisdictions. Property development and associated activities can involve delays, additional expenses, illiquidity, market uncertainty and partial or total loss of invested capital. No return, income, capital protection or increase in property value is promised.
Practical assistance and professional services. Where specifically agreed, ITS Italy or the relevant project participants may provide or coordinate non-regulated practical assistance concerning local administration, property maintenance, project coordination and relationships with local service providers. Such services are not automatically included in a purchase or development arrangement, and their scope, availability, duration and cost must be confirmed separately. Legal advice, conveyancing, notarial services, architectural or engineering certification, regulated tax advice, financial advice, immigration advice or representation, and other reserved professional activities are provided, where required, by appropriately qualified and authorised independent professionals operating under their own professional responsibilities and engagement terms. Coordination or introduction to such professionals does not replace independent due diligence or guarantee particular outcomes.
Immigration and cross-border taxation. The acquisition or ownership of Italian real estate does not automatically confer a right of residence, permission to work, a visa, Italian citizenship or entitlement to favourable tax treatment. Non-EU citizens, including British and American purchasers, should seek independent advice concerning their immigration status, intended period of stay, work arrangements and personal circumstances. Tax obligations may arise in Italy and other jurisdictions depending on residence, foreign income, pensions, business activities, property holdings and applicable domestic law or international tax agreements. No specific immigration outcome, residence permit or fiscal benefit is represented as guaranteed.
Currency comparisons. Exchange-rate illustrations are based on euro reference rates for 9 April and 9 October 2026 and are provided for general information only. They exclude bank charges, conversion spreads, financial transaction costs and other expenses, and do not represent executable foreign-exchange quotations. Exchange rates can change materially, potentially increasing or reducing the amount required to complete a transaction.
Editorial relationships and commercial disclosure. ITS Journal is an editorial initiative associated with ITS Italy. NOMAG Research Books is published by Nomag Media Ltd, with the relevant partners and co-producers identified within the individual publications. This article combines editorial material, research references and promotional discussion of activities associated with ITS Italy and should be read accordingly. It is not independent financial or investment research, regulated professional advice or a guarantee of commercial outcomes. Digital book access, subscriber benefits, promotional prices and renewal arrangements are subject to the applicable ITS Journal and Substack subscription terms.
No binding offer. Nothing in this publication constitutes a binding property sale offer, investment solicitation, regulated financial promotion, financing commitment or agreement to supply professional services. Any transaction, collaboration or investment arrangement is subject to the relevant property’s availability, satisfactory due diligence, applicable legal requirements and formal written agreements between the appropriate parties. Readers should seek independent legal, financial, tax and technical advice before making significant commitments.