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Moving to this small Italian town will cost you $30,000 only!

Several Italian small towns are developing enticing plans to draw in more inhabitants as they attempt to turn around their ailing economies. There has been a frenzy of competition, with residences going for as little as $1 and being offered at throwaway prices. CNN reports that residents of the Puglia region’s Presicce town would get 30,000 euros (about $30,000) from the town’s government in exchange for purchasing a vacant plot and settling down.

According to Alfredo Palese, a local Presicce councilman from the Middle Ages, there are a lot of vacant properties in the historical centre that were built before 1991 and that we would want to see come life once again with new tenants. Officials are hoping that the monetary incentive would be successful in luring prospective people to settle in the town, which has been seeing a decline in the birth rate.

‘It’s sad to see how our historic neighbourhoods, which are full with beautiful architecture and artwork, are gradually becoming abandoned’.  The specifics of the agreement are still being worked out, but according to Palese, the authorities want to accept applications in the coming weeks, and everyone will be able to access all the necessary information on the town hall website. For individuals ready to relocate and purchase one of these vacant homes, ‘We will be providing up to 30,000 euros,’ he says.

One of the key requirements for receiving this incentive is that potential purchasers must move to Prescott and purchase a home that was constructed before 1991. The whole amount of money will be divided in two halves and used to purchase an older property and, if necessary, renovate it. The 2019 merger with a neighbouring town will finance the offer. Due to the merger of Presicce and Acquarica, the state coffers received more funding, enabling the offer to last for years.

Palese was cited as stating, ‘After the merger, in accordance with Italian legislation, our expanded territory will be blessed with extra public funding, around [1 million] euros per year for several years forward, which we aim to deploy to rejuvenate the old district’.


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