Across Europe, prospective homeowners are bypassing conventional housing markets, opting instead for €1 abandoned Italian properties or multi-million-euro historic castles—both extremes drawing global buyer interest.
A €1 home in Sicily
In a bid to revitalize dwindling populations, some Italian villages are selling abandoned houses for a token amount, hoping to attract new inhabitants. The scheme is straightforward: buyers pay just €1 for a property, but they must commit to renovating it within a set period and adhere to local council rules.
Zungoli, a historic village in Italy’s south, mandates that buyers submit renovation plans and finish the work within three years. However, the €1 price tag is deceptive. Additional costs, including legal fees, administrative charges, and potentially extensive repairs, can quickly escalate, turning a seemingly cheap purchase into a costly endeavor.
Australian TV personalities Shaynna Blaze and Darren Palmer, known for their roles on The Block, embarked on a similar project in Castronovo di Sicilia. They renovated an abandoned property as part of their Channel Nine show, 1 Euro House with Shaynna and Darren.
The property, featured on their Instagram page 1eurohouse.au, had been vacant for approximately 40 years, with foundations dating back 400 years. Despite their experience with high-value Australian renovations, the pair found restoring a dilapidated Sicilian home to be a unique challenge.
As reported by Homes To Love, the renovation required Blaze and Palmer to handle unfamiliar building codes, language barriers, local work practices, and the complexities of preserving a centuries-old structure. They spent around four months in Sicily, collaborating with local craftsmen to blend historical preservation with modern interiors.
The renovation incorporated traditional plastering, local materials, and restored architectural details, while the designers adapted to the slower pace of village life. Now complete, the property is listed for around €190,000 (A$300,000). The transformed home includes two bedrooms, two living areas, a modern kitchen, outdoor space, and parking, offering a Mediterranean retreat.
Shaynna Blaze announced the decision to sell in a video shared on social media.
“But I think it’s time for a new adventure for me, so I’m going to put it on the market.”
Palmer highlighted the property as an ideal option for those seeking a Sicilian lifestyle without the renovation hassle.
“It’s a great holiday place, a place to have guests or family, and where you can live that brilliant Sicilian lifestyle,” he said.
The significant price increase from €1 to €190,000 doesn’t account for the substantial restoration costs, materials, labor, and other expenses incurred during the project.
Castles for millions
For those with larger budgets, Europe’s historic property market presents another unique option. Castle Collector, a specialized platform, lists over 3,500 castles, palaces, and historic estates across 25 countries, sourced from more than 1,200 agents.
According to Castle Collector’s 2026 report, the median price for a European castle is about €1.7 million (A$2.8 million). France dominates the market, offering everything from smaller restoration projects to grand estates priced in the millions.
In Italy, the median castle asking price is approximately €2.83 million (A$4.7 million), while Spain sits at around €2.2 million (A$3.6 million). There are also comparatively affordable options, with some castles advertised for less than €500,000 (A$825,000), although restoration requirements, heritage protections and ongoing maintenance can add considerably to the overall cost.
Despite the enormous difference in asking prices, Italy’s €1 homes and Europe’s multimillion-dollar castles have something in common: the purchase price rarely tells the full story. Both can involve complicated restoration projects, heritage restrictions and maintenance costs that extend well beyond the initial transaction. Italy’s village housing schemes also come with conditions designed to ensure properties are restored rather than simply acquired and left vacant. If buyers are willing to take on the work, however, the opportunities are certainly unusual. And while a €1 Sicilian home might require a substantial renovation budget, it is still considerably cheaper to get through the front door than a €2 million French château.
Defining the market
Castle Collector operates as an aggregation platform rather than a developer or auctioneer. The marketplace connects interested parties with the specific agents responsible for each listing. This approach allows the platform to showcase a vast array of properties without assuming ownership of the inventory. Users can browse through medieval fortresses, vineyard estates and historic châteaux that have been converted into hotels or wedding venues.
Regional price points
There are also comparatively affordable options available to those with different budgets. Some castles are advertised for less than €500,000. However, these lower price points often come with specific conditions. The purchase price is rarely the final figure a buyer needs to consider.
