Thinking of moving to Europe? This stunning Italian region will pay you over $100,000 to live there

Governments in many rural areas that are suffering from depopulation have implemented programs to subsidize people to move there in order to revitalize communities in decline. One that is in the works in the Autonomous Province of Trento, once approved, would offer over $100,000 to purchase and renovate a home.

However, the offer isn’t available to everyone, you have to be a resident of Italy or an Italian living abroad. Additionally, you’ll be signing onto living in one of the 33 towns under consideration for 10 years or renting the property out for that amount of time. Otherwise, you may have to pay the money back.

Over $100,000 to live in this scenic Italian Alpine region

Trentino is a region in northeastern Italy where the Dolomites meet with the Alps, which consists of 166 municipalities. The majority of them are small towns that have less than 2,000 inhabitants. All of the 33 municipalities currently included in the Trento government’s plan are on the brink of extinction reports CNN, that is the number of empty and abandoned houses outnumber those that are inhabited.

“The goal is to revitalize local communities and promote territorial cohesion,” said Trento President Maurizio Fugatti.

The €100,000 (roughly $109,000) is a grant that consists of two parts: €20,000 (about towards the cost of the purchase of the property and €80,000 towards renovation of the property.

Restriction to get the over $100,000 grant

The proposed plan stipulates a number of restrictions, like being an Italian living abroad or a resident of Italy. However, those under 45 already living in the region are not allowed to apply. Also, the funds will only be doled out to purchase and renovate abandoned homes that are in an advanced stage of disrepair.

There is a cap on how much can be spent on renovation of €200,000 to prevent the new owner building an outsized villa that would not keep with the local village. While the purchase price is not capped, the grant is expected to cover 35-40% of the cost, a single individual is limited to three real estate units to prevent one person buying up a whole village.

As mentioned, the person who buys and renovates the property must live there for 10 years, or they can rent it out, but only to one long-term tenant. Owners will be prohibited from creating short-term rentals.

La Voce del Trentino published the following is the list of municipalities currently under consideration: Altavalle, Bleggio Superiore, Bondone, Borgo Chiese, Bresimo, Canal San Bovo, Castel Condino, Castello Tesino, Cinte Tesino, Cis, Dambel, Frassilongo, Grigno, Livo, Luserna, Mezzano, Novella, Ospedaletto, Palù del Fersina, Peio, Pieve di Bono-Prezzo, Pieve Tesino, Rabbi, Rumo, Sagron Mis, Segonzano, Sover, Terragnolo, Tre Ville, Valdaone, Valfloriana, Vallarsa, Vermiglio.

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