Why towns in Italy’s Salento are offering new residents up to €30,000
As if the sunny south-eastern tip of Italy wasn’t enticing enough, towns in Salento have now announced big cash incentives for people moving in. Why is this needed, and what’s the catch?
Another town in southern Italy has joined a long list of depopulated areas which are trying to offload old, unwanted houses at bargain prices and offering cash incentives to new residents.
The municipality of Presicce-Acquarica, which is made up of two adjoining villages, has announced it will soon offer grants worth up to €30,000 to those willing to relocate there.
READ ALSO: The cheap Italian properties buyers are choosing instead of one-euro homes
No doubt the offer will be tempting to anyone who has visited the sunny Salento area, in Italy's south-eastern Puglia region.
Salento sits right at the bottom of the peninsula that forms the heel of the Italian ‘boot’. It’s a highly popular summer tourist destination known for scorching temperatures, sprawling olive groves, whitewashed houses and long coastlines dotted with wild, pristine beaches.
With its famously abundant local produce, warm climate and authentic, traditional feel, Puglia (and Salento in particular) is an increasingly popular destination for foreign second-home buyers as well as holidaymakers.
The Italian region of Puglia is known for its unspoilt landscapes and agricultural traditions. Photo by Mathilde Ro on Unsplash
But the newly-announced incentives are aimed more at those who would become full-time residents, as the council hopes to attract young families and people planning to start a business.
Those moving to the villages of Presicce or Acquarica must be willing to invest in an older property in the area, and the council says it will subsidise 50 percent of the cost of a property purchase and any renovation work up to a maximum of €30,000.
READ ALSO: Why Italians aren’t snatching up their country’s one-euro homes
Houses for sale as part of the deal are reportedly priced from around 500 euros per square metre, meaning you could buy a 50-square-metre property at around €25,000.
Like other cheap or one-euro homes on sale across Italy, the eligible properties have long been abandoned and are likely to need significant renovation work.
The location of Presicce-Acquarica at the southern tip of the Puglia region. Image: Google Maps
To be eligible for the grant, the council says individuals or families must move their official residency to the town - which would require being a full-time resident in Italy, to begin with, something which could prove problematic for those who would need a visa, or who only want to spend part of the year in Italy.
And buyers would have to be sure about their decision, as the town hall is expecting them to stick around.
"The maximum sum of 30,000 euros is envisaged only if the buyer decides to move their residence for at least 10 years after the purchase," Mayor Paolo Rizzo said, according to newspaper Corriere della Sera.
The municipal council has already launched several incentives to attract new residents, including tax breaks for business start-ups and ‘baby bonuses’ for families with children.
After just 60 births compared to 150 deaths last year, the town hall says it will also grant new resident families €1,000 for every baby born there.
READ ALSO:
- Can second-home owners get an Italian residence permit?
- How to avoid hidden traps when buying an old property in Italy
- Charming or boring – What do Italians think of life in the old town?
The municipality now has around 9,000 residents, around half of whom live in the old town, where the properties for sale are located.
But attracting new families to this sleepy area may prove a considerable challenge: like many other parts of Italy trying to reverse population decline with generous-sounding incentives, Puglia’s villages often have little public transport infrastructure, scarce public services, and limited employment opportunities.
Many villages in rural Puglia have an older population and are struggling to retain younger residents. Photo: Rich Martello/Unsplash
Perhaps the council is relying on the area’s outstanding beauty to tempt new residents: Presicce-Acquarica is designated as one of Italy’s 'most beautiful' villages, with a historic centre filled with ornate churches and Baroque palazzi.
The town is nicknamed the “city of green gold” due to the high quality of the oil from the surrounding olive groves, and it’s only a short drive from the Ionian Sea and the popular tourist destinations of Gallipoli and Santa Maria di Leuca.
The full details of the scheme and application process have however not been finalised yet, and will be published on the town hall’s website in the coming weeks, according to Italian media reports.
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Another town in southern Italy has joined a long list of depopulated areas which are trying to offload old, unwanted houses at bargain prices and offering cash incentives to new residents.
The municipality of Presicce-Acquarica, which is made up of two adjoining villages, has announced it will soon offer grants worth up to €30,000 to those willing to relocate there.
READ ALSO: The cheap Italian properties buyers are choosing instead of one-euro homes
No doubt the offer will be tempting to anyone who has visited the sunny Salento area, in Italy's south-eastern Puglia region.
Salento sits right at the bottom of the peninsula that forms the heel of the Italian ‘boot’. It’s a highly popular summer tourist destination known for scorching temperatures, sprawling olive groves, whitewashed houses and long coastlines dotted with wild, pristine beaches.
With its famously abundant local produce, warm climate and authentic, traditional feel, Puglia (and Salento in particular) is an increasingly popular destination for foreign second-home buyers as well as holidaymakers.
But the newly-announced incentives are aimed more at those who would become full-time residents, as the council hopes to attract young families and people planning to start a business.
Those moving to the villages of Presicce or Acquarica must be willing to invest in an older property in the area, and the council says it will subsidise 50 percent of the cost of a property purchase and any renovation work up to a maximum of €30,000.
READ ALSO: Why Italians aren’t snatching up their country’s one-euro homes
Houses for sale as part of the deal are reportedly priced from around 500 euros per square metre, meaning you could buy a 50-square-metre property at around €25,000.
Like other cheap or one-euro homes on sale across Italy, the eligible properties have long been abandoned and are likely to need significant renovation work.
To be eligible for the grant, the council says individuals or families must move their official residency to the town - which would require being a full-time resident in Italy, to begin with, something which could prove problematic for those who would need a visa, or who only want to spend part of the year in Italy.
And buyers would have to be sure about their decision, as the town hall is expecting them to stick around.
"The maximum sum of 30,000 euros is envisaged only if the buyer decides to move their residence for at least 10 years after the purchase," Mayor Paolo Rizzo said, according to newspaper Corriere della Sera.
The municipal council has already launched several incentives to attract new residents, including tax breaks for business start-ups and ‘baby bonuses’ for families with children.
After just 60 births compared to 150 deaths last year, the town hall says it will also grant new resident families €1,000 for every baby born there.
READ ALSO:
- Can second-home owners get an Italian residence permit?
- How to avoid hidden traps when buying an old property in Italy
- Charming or boring – What do Italians think of life in the old town?
The municipality now has around 9,000 residents, around half of whom live in the old town, where the properties for sale are located.
But attracting new families to this sleepy area may prove a considerable challenge: like many other parts of Italy trying to reverse population decline with generous-sounding incentives, Puglia’s villages often have little public transport infrastructure, scarce public services, and limited employment opportunities.
Perhaps the council is relying on the area’s outstanding beauty to tempt new residents: Presicce-Acquarica is designated as one of Italy’s 'most beautiful' villages, with a historic centre filled with ornate churches and Baroque palazzi.
The town is nicknamed the “city of green gold” due to the high quality of the oil from the surrounding olive groves, and it’s only a short drive from the Ionian Sea and the popular tourist destinations of Gallipoli and Santa Maria di Leuca.
The full details of the scheme and application process have however not been finalised yet, and will be published on the town hall’s website in the coming weeks, according to Italian media reports.
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