This Italian town will pay you US$30,000 to live there

From selling house lots for US$1.15 to paying people to lure them into becoming new residents, small Italian towns have tried many creative methods to combat depopulation.

Presicce-Acquarica, with around 10,500 inhabitants in the southern region of Apulia, is the latest to launch a campaign to boost population numbers.

The initiative, dubbed “Welcome to Presicce-Acquarica”, promises a donation of US$30,000 to anyone who buys a house and registers their residence in the town. But then, what’s the catch?

MOVE TO ONE OF THE MOST BEAUTIFUL VILLAGES IN ITALY

Presicce-Acquarica – technically the two towns of Presicce and Acquarica del Capo merged into one municipality – is at the boot end of Italy, in an area known as Salento.

The main square is graced by a white church adorned with a spiral and intricate sculptural decoration, while the streets are paved in luminous white marble, typical of the towns in the region.

It has been designated as one of Italy’s “most beautiful villages” for its extravagant baroque architecture and grand palaces of the historical nobility.

A white-adorned church graces the main square, and the streets are paved in luminous white marble typical of the towns in the region.

Step outside the historic center, and you will find yourself miles away from olive groves outlined by dry stone walls.

It may seem puzzling why so few people want to live there. But rural Italy has thousands of these impressive small towns that, due to a lack of job opportunities, especially for young people, are seeing their populations decline irrevocably.

HOW TO GET PAID TO MOVE TO A TOWN IN ITALY

Presicce-Acquarica is trying to fight its depopulation by attracting new residents with generous sums of money.

The exact details of the scheme are yet to be released, but here is what we know so far.

The campaign is aimed at individuals or families who want to move their official residence to the city of Salento.

The scheme requires them to invest in a house, the cost of which will be subsidized by a grant provided by the municipality of Presicce-Acquarica.

The financial aid will be available to cover 50% of the costs of buying a house, including renovations, up to a maximum of €30,000.

Around 30% of the city’s residential properties are eligible for the scheme.

To combat the aging population (the city had 60 births last year compared to 150 deaths), Presicce-Acquarica is also giving US$1,000 for each newborn baby.

Recently, the island of Sardinia launched a similar campaign to attract new residents with a donation of US$15,000.

With information from Forbes