The stunning area of Trentino in northern Italy offers attractive €100,000 (£83,565) to individuals looking to relocate there, but there's a catch. An attractive offer is the requirement that newcomers have to renovate abandoned homes in the area. Currently, in the 33 towns allocated to the project, the abandoned properties outweigh the occupied.
Participants will receive 20,000 Euro (16,720 pounds) to purchase empty property and a grant of 80,000 Euro (66,879 pounds) for its renovation. However, another provision in the scheme is that residents must either have lived in the property for 10 years, have to commit to renting, or face repayment of the grant. Additionally, participants can apply for donations for up to three properties in each village, but they must maintain rental prices at a “medium” rate.
The renovation costs close at 200,000 euros (£167,197). This means that new owners cannot exceed 120,000 euros (£100,319.40) of their money to upgrade their property.
According to CNN, people under the age of 45 who are already resident in the area are not eligible for the program.
“This is a measure aimed at creating identity community networks in the context of strong depopulation,” Trentino said in a statement.
Trent President Maurizio Fugatti described the initiative as “experimental action” designed to “strengthen social cohesion in the Trentino region,” Mirror reports.
Immobiliare News has revealed that the local council of Trento will invest 10 million euros (£8.4 million) over two years in a project aimed at revitalizing the region.
The full list of towns set up to benefit from this fund has not yet been released, but it is expected to include places like Val DIN, where depopulation has exceeded 11%.
The Trentino region is famous for its stunning scenery, including dolomite and numerous historic sites.
Visitors will be drawn to local blends of natural beauty and cultural heritage, as well as charming villages scattered throughout the region.
Located in the heart of the Italian Alps in the northeastern part of Italy, this region is conveniently located between Lake Garda and Dolomite.
Major cities such as Milan, Venice and Verona are all easily reached, providing an ideal foundation for exploring larger areas.
Trent, the region's major city, is known for its rich history, including holding a 16th century council.
The city includes Renaissance frescoes that adorn the walls of buildings in the historic centre, as well as attractions such as muse – an innovative museum of natural sciences – Castello del Bunconciglio, home to Torre del Achira's Gothic frescoes.
In addition to its cultural offerings, the area also offers ample opportunities for outdoor activities. Over 800km of ski slopes are available in winter, while summer visitors can enjoy hiking, mountain biking and climbing in the area.
