Alex and Emma, a British couple, have paused renovations on their six-room house on the island of Sicily after costs began mounting, Express reported.
The couple purchased the property two years ago for £35,000, or about $47,000. They originally planned to spend £45,000, about $60,000, on repairs but now fear total expenses could exceed £100,000 including the purchase price.
Their planned updates included building a second bathroom, making minor improvements, and renovating a roof terrace overlooking the Mediterranean Sea. However, friends currently renovating another home poured cold water on their plans, Alex said.
Emma said every pound spent in Sicily postpones their dream of owning British property, adding that they are deciding how to spend their next £50,000 or £60,000 at this stage of life.
She added that the purchase was deliberate because they sought non-standard housing, loved Sicily for its measured lifestyle, and wanted to build family memories while their children were young.
Property in Japan
In a separate case, a Romanian citizen purchased a traditional 300-square-meter home in Japan for 10,000 euros. The property sits on a 3,000-square-meter plot and includes five outbuildings.
He pays about 300 euros a year in property taxes, an amount he described as small given the size of the land and buildings.
