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You Can Buy This Beautiful Island in Italy for $1.1 Million

March 29, 2019
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3 min read
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You Can Buy This Beautiful Island in Italy for $1.1 Million
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Ever daydreamed about having your own private island paradise? For less than the price of a Manhattan apartment, your dream can become a reality. Isola delle Femmine, a protected island off the coast of the Sicilian city of Palermo, is for sale.

The aristocratic Bacci family has owned the 15-hectare island since the 1600s, but like many of Italy's old aristocratic families, they can no longer afford to maintain the property. Fifteen hectares works out to about 37 acres, or the equivalent of approximately 30 football fields.

"This fiefdom has always been a family jewel but there's no sense in hanging onto something we no longer use," the countess Paola Pilo Bacci told CNN Travel. "A new owner could breathe new life into the isle and tower, which was majestic and deserves to be rebuilt."

The ruins of an ancient tower are the only structure on the island. Photo courtesy of Romolini Immobiliare.

The ancient tower was built to protect Sicily — once a kingdom of its own — from raids by Saracen pirates, but it was bombed by the Allied Forces during World War II. During Antiquity, the Romans used to produce a gourmet fish sauce called garum on the island, and the ruins of the basins they once used remain. There are no other structures on the island, making it an unspoiled natural paradise with over 120 plant species, including irises, mallow and mandrakes.

"The tower was used as a house and there are some features, like an external loggia, so with this you could go directly on the first floor," real estate agent Riccardo Romolini of Romolini Immobiliare, who's selling Isola delle Femmine, told TPG. "Around the island is a national marine park, so it's also very beautiful underwater."

Photo courtesy of Romolini Immobiliare.

But before you start making plans to buy the island and build a resort on it, think again.

"The island is protected, so of course you can restore the tower but you can't make any expansion of the tower or new buildings," Romolini explained. Initially, he had listed the island for €3.5 million (about $3.9 million by the current exchange rate), but since nobody made an offer, he lowered the asking price to €1 million, though he's still hoping to get somewhere between €1 million and €3 million.

"We had a lot of interest," Romolini said. "We had an offer, but it was very low, so it is still for sale."

Isola delle Femmine is far from Italy's only real estate proposition that seems too good to be true. Rural Italian villages suffering from depopulation have advertised houses for €1 and even tried to lure people to move there by by offering to pay them.

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Photo courtesy of Romolini Immobiliare.

In the case of Isole delle Femmine, whoever buys it likely won't get much of a return on his or her investment. Still, the chance to buy an island in the Mediterranean doesn't exactly come around everyday.

"There are not really islands for sale in Italy, Romolini said. "There was one in the Amalfi Coast years ago, a beautiful island, but not at the moment. "

Featured image by Riccardo Romolini 2013

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  • Intro Offer

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  • Annual Fee

    $325

  • Recommended Credit

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Why We Chose It

There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)

Pros

  • 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
  • 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
  • Packed with credits foodies will enjoy
  • Solid welcome bonus

Cons

  • Not as useful for those living outside the U.S.
  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
  • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
  • Terms Apply.