The town of Teora in the southern region of Avellino, Campania has a plan to tackle its ageing population by offering to pay the rent of new residents to the area.
Following a devastating earthquake in 1980, which destroyed much of the town and caused residents to flee, the population has seen a steady decrease that has left many of its dwellings unoccupied.
For the two new babies born in the town each year, around 20 elder locals pass on, and now, only around 1,500 residents remain in the picturesque town.
But the local government is working to quite literally breathe new life into the town by offering a cash incentive for new families who agree to move in, CNN reports.
Should you wish to rent of the dwellings in Teora, you will receive €150 per month (AU $250) for the cost of your rent over two years. Those who opt to buy, however, will be given €5,000 (AU $8,150), as a contribution to the sale price.
It’s a cracking deal when you take into account that many of the rentals cost as little as €200 per month, while homes listed for sale start at around €30,000. What’s more, many of the homes are in good condition having been rebuilt after the earthquake — some even come furnished.
But of course, there are a couple of small catches. Any new resident must stay the course of three years, and at this stage, only families with at least one child will be considered to move into the 100 or so homes available.
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Though the incentive is designed to revitalise the forgotten town in the same ways the Italian homes being sold for €1 have done, the mayor of Teora believes this scheme to be more successful in the long run.
“I don’t believe in selling empty houses for €1, that doesn’t incentivise people to stay in town,” mayor Stefano Farina tells CNN.
“They just come a few months a year as holidaymakers. That’s not the solution. But taking up residency and enrolling kids at the local school, that does breathe new life.”
Since first being announced, it’s reported that three families have already taken the town up on the offer and more are expected to apply.
Teora is surrounded by lush greenery and with its cobbled pathways and colourful balconies makes for a beautiful place to raise a family. While quaint and certainly quiet, Teora is just a short driving distance to the Amalfi coast and Puglia.
Considering buying a cheap Italian home or taking the major or Teora up on this offer? We spoke to someone who actually bought an Italian home for €1.