A beautiful Italian region known for summer hiking and winter skiing is paying individuals €100,000 to move there — but there are some major catches including a 10-year stay minimum
A beautiful Italian region is paying people €100,000 (£83,565) to move there — but there is a catch.
The Trentino area in northern Italy is offering up to €100,000 for people willing to relocate to the region, but the catch is that you will need to renovate abandoned houses in the area.
Currently, abandoned properties outnumber those occupied in the 33 towns currently considered for the project. For those who participate, they will recieve €20,000 (£16,720) towards purchasing an empty property and a grant of €80,000 (£66,879) to renovate it.
Another catch of the scheme is that residents must promise to live in or rent the property for 10 years, or risk having to repay the grant. In addition, those who participate in the scheme can request contributions for a maximum of three properties in each village and must keep rental prices at a “moderate” rate.
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Renovations also are not allowed to exceed €200,000 (£167,197) in costs, meaning the new owners cannot spend more than €120,000 (£100,319.40) of their own funds upgrading a property. According to CNN, anyone under the age of 45 who already live in the area are prohibited from applying for the programme.
“It is a measure aimed at creating an identity community network in contexts of strong depopulation,” said the Trentino province in a statement. Maurizio Fugatti, president of Trento, said the “experimental action” is aimed at “strengthening social cohesion in the Trentino area”.
Immobiliare News reported that Trento’s local council has €10 million (£8.4 million) earmarked across two years to support the project. The full list of eligible municipalities is year to be announced, but towns such as Val di Non, where depopulation has exceeded 11 per cent, is expected to be included.
The Trentino region has an amazing landscape, featuring the Dolomites and several historical sites. Visitors enjoy experiencing nature and culture, and the many quaint villages that litter the region.
The region is located in the north-east of Italy, in the heart of the Italian Alps, between Lake Garda and the Dolomites. A few major cities are also close, with Milan just under three hours away, Venice just over two hours away and Verona just under an hour away via train.
The main city of the region is Trento, which is famous for hosting the historical Council of the Sixteenth century and for Trentodoc — a spumante, sparkling wine. The city is home to Renaissance frescoes that decorate the walls of the buildings in the historical centre. One amazing spot to explore is MUSE — the innovative museum of natural science — and the Castello del Buonconsiglio, which boasts the Gothic frescoes of Torre dell’Aquila.
In the winter, the region benefits from more than 800 kilometres of skiing slopes, while in summer visitors can enjoy hiking, mountain biking and climbing in the area.