A retired couple from Brighton have purchased a four-bedroom holiday villa in southern Italy for just €30,000 (£26,000), a full €20,000 below the asking price. Brenda and Thomas Knight, both 75, acquired the property in the Basilicata region, complete with a garden, orchard, olive trees and a swimming pool.
Mrs Knight said the house was in excellent condition and required only a fresh coat of paint. 'A similar property would be more than £800,000 in Brighton,' she told i. The couple learned from friends that many ready-to-occupy homes in depopulated hamlets were available at low prices, with owners eager to sell to avoid maintenance costs and property taxes.
The Knights plan to use the house as a holiday retreat and are not considering a permanent move to Italy. 'We’re okay with the 90-day rule for Brits travelling to Europe – it doesn’t really bother us,' Mrs Knight said. The region is attracting other international buyers, such as American artist Bingwa Thomas, who recently bought a 250-square-metre property for €39,000 after negotiating down from €50,000.
Local estate agent Vincenzo Castellano noted that sellers are very open to negotiation, saying, '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.'
