Since the most awful depression in the properties in Italy in the year 1975, several elderly Italians are selling their houses to foreigners at a reduction provided they will reside on until their demise. “Nude sales” is what the transactions in cash are labeled, because generally the title-holders are removed from their ownership while maintaining use of property until their death. Although they comprise for only 5% of sales, it correspond to only one among the few numbers of developing places while the sprawl expands. There were approximately more than 30,000 sales made in the year 2008 in contrast to the 18,000 figure in 2000; this is according to the Scenari Immobiliari, which is a research institute on properties based in Rome.

There are compelling reasons that brought this up and one has something to do with the increasingly impoverished and aging population, as well as the tendency for Italians to want to retire in their own homes and not in sequestration communities. In France, similar kinds of deals also take place and it is called en viager. A buyer is obligated a fee each month and the title-holder either stays in the home or steps on, using the monthly compensation as his complementary income. When the title-holder passes away, the property also transfers to the individual making the disbursements to him. According to government statistics, there are roughly more than 80% of Italian citizens above the age of 65 who own their houses, and as a result the promotion for such sales of properties is anticipated to continue increasing.

It is most likely that by the year 2040, out of ten Italians one is an octogenarian — one who is turning the nation’s population to one of the oldest in Europe. Furthermore, Italians earn €23,405 as the annual average gross salary, which is 25% lesser than the average gross salary in France, thus their pensions are lower. Italians are markedly rich for the house, but poor for cash. The head of the nonprofit association of Housing and the Elderly, Mario Corsini, advises pensioners in housing regards saying it is one means to reflect on thickening income and staying in their owned homes.