Luckily for Americans still tempted by the challenge, non-EU citizens are all free to take part—and some have already gone as far as to purchase multiple €1 properties.
Americans and all non-EU citizens can snatch up the scenic properties in Sicily and Saint-Amand-Montrond in France. Policies for purchase are dependent on the country and local town, but there are blanket requirements to consider.
Fortunately, Visas and permanent residency are not required to buy these €1 houses. Americans can enter these countries as tourists to visit the site of the homes before deciding to buy—which is required in some of these housing schemes—and don’t need this documentation to purchase. However, U.S. tourists are typically only allowed to stay for up to 90 days within a 180-day period before needing a Visa, which is common in travel to most countries. So if American buyers want to sit back and lounge on the terrace of their French pad all year round, they’ll need to look into a residency permit or Visa to stay.
But here’s the catch: Applicants need to demonstrate that they have the funds to renovate the property in advance, and even then, the new owners are required to begin fixing up the property within one to three years of purchase.
