Italians are getting an opportunity to
move to a charming and tranquil area of the nation
– And they might receive an enormous amount of money for doing this.
Famous for its stunning mountain landscapes, the northern Italian area of Trentino has experienced a decrease in population in recent times.
However, with the new national budget law enacted in 2024,
Italy
, residents might receive up to €100,000 as payment.
move to the area where the Dolomites converge with the Alps
.
The funding is part of an initiative to revitalize and restore over 30 Italian towns that are at risk of disappearing. Many of these communities have more vacant buildings than occupied ones.
To encourage the acquisition of dilapidated or neglected properties, Trentino has set aside over €10 million for this initiative over the coming two years.
Residents of Italy and those residing overseas who are keen on this type of investment will have access to a grant totaling approximately €80,000 for renovations and an additional €20,000 to assist with buying the property.
It sounds too good to be true, doesn’t it? There’s a catch though.
Individuals opting to register for a grant are required to reside in Trentino for at least ten years or, alternatively, they must promise to lease the property for this duration.
Individuals who get a grant but do not follow these regulations might have to repay the money they received.
The president of Trento, the capital of Trentino, stated: “Our aim is to rejuvenate local communities and enhance territorial cohesion.”
In recent years, several charming Italian towns have come under scrutiny from the government.
backed
a scheme where properties have been sold for less than the price of a pint of lager.
Launched in 2017, the ‘one euro’ initiative aimed to stimulate local economies and draw new inhabitants to communities experiencing shrinking populations. Under this program, purchasers must refurbish the homes within a set period.
Thus, home seekers got the chance to acquire quaint houses in idyllic settings for a mere euro.
From the lush hills of Sicily to the quaint villages of Calabria, more than 100 houses have been purchased through this program until now.
Trentino’s initiative might also enable up to 100 locals to receive financial support for relocating and refurbishing dilapidated properties in areas like Val di Non, Val di Sole, or Castello Tesino—villages that risk becoming completely abandoned otherwise.
“These are regions that, despite retaining a distinct cultural and scenic character, have experienced a steady decline in population,” writes Nicola Teofilo, a real estate journalist for
Immobiliaire News
reported.
‘A number of these communities are situated amidst mountains or valleys, making everyday living more intricate because of their remoteness from primary amenities.’
Individuals who are below 45 years old and currently residing in the northern area are not eligible to apply for the grant. Moreover, participants in the program can only buy up to three properties.
Trentino authorities aim to complete the plan within the next few weeks, anticipating that approximately 33 municipalities will participate.
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