Naro, a medieval hill town in the province of Agrigento in southwestern Sicily, is taking part in Italy's well-known €1 house initiative, giving prospective homeowners the chance to buy neglected properties at an extraordinarily low starting price.

However, there is an important catch: these aren't ready-to-move-into holiday homes. Buyers should expect a substantial renovation project.

Why is Naro selling houses for €1?

The initiative is part of the Case a 1 Euro program, adopted by communities trying to breathe new life into empty buildings and historic neighborhoods affected by population decline.

The idea dates back to 2008, when the Sicilian town of Salemi pioneered a version of the scheme.

For Naro, the program aims to revive its historic center by bringing unused buildings back into use and attracting people willing to invest in their restoration.

And the location has plenty going for it.

Naro's historic surroundings include Chiaramontano Castle, while the countryside opens towards the San Giovanni Dam. Its position also makes the town an interesting base for visitors who want to experience Sicily beyond its best-known coastal resorts, combining history, rural landscapes, and access to the island's cultural and seaside attractions.

How does the €1 house scheme work?

Property owners in Naro who want to participate can put forward eligible homes through an expression-of-interest process. They must provide information about the building and at least one photograph.

Potential purchasers can then apply for a property that interests them and outline what they intend to do with it.

The €1 figure, however, should not be mistaken for the true cost of owning one of these houses.

Properties in schemes like this are typically abandoned, or in poor condition, so they may need significant renovation before they can be comfortably or safely occupied.

Current listings in Naro include detached properties with between three and six bedrooms, all requiring renovation.

For adventurous buyers, that can be part of the appeal. Instead of buying a finished property, they can restore an old Sicilian home and create something tailored to their own tastes.

But anyone attracted by the headline price should carefully consider renovation costs and other requirements before committing.

Naro isn't Sicily's only €1-home destination.

The concept has spread across Italy as smaller communities look for creative ways to restore abandoned buildings and attract new residents and investment.

Sicily has been particularly active in embracing the idea. Mussomeli, Sambuca di Sicilia and Caltagirone are among the other communities associated with €1 property initiatives.

These schemes have attracted international attention, especially from overseas buyers intrigued by the chance to restore a historic Italian property.

A €1 property can become a very expensive project.

American buyer Meredith Tabbone's experience shows how different the final cost can be from the eye-catching €1 headline.

Tabbone, a financial adviser from Chicago, became interested in the scheme after a friend sent her an article about it. What began as a spontaneous decision eventually developed into a major restoration project.

Over about five years, she spent around £384,000 transforming the property into a vacation home with amenities including an outdoor kitchen, spa, and entertainment space.

The original building was in extremely poor condition, but its historic character and architectural details convinced her the restoration was worthwhile.

Her experience highlights perhaps the most important thing prospective €1 homeowners need to understand: the bargain purchase price is only the beginning.

Could you really own a Sicilian home for €1?

Technically, schemes such as Naro's can make it possible to acquire a property for a symbolic price. In practical terms, however, prospective buyers need to think far beyond that initial euro.

Restoring an old building can involve construction work, professional fees, paperwork and considerable time, with the eventual investment potentially reaching many thousands of euros.

Still, for someone who has always imagined restoring a home in a historic Sicilian town, the attraction is easy to understand.

A €1 house might not be the bargain it first appears to be — but for the right buyer, it could be the starting point for an entirely different kind of Italian adventure.