To combat the depopulation in its villages, Trentino, an autonomous province in northern Italy has rolled out a tempting offer: relocate to its stunning Alpine region and receive a one-time grant of Rs 92 lakh (100,000 euros). Of this, Rs 74 lakh (80,000 euros) is earmarked for renovating the property, while Rs 18.5 lakh (20,000 euros) will go towards the cost of the purchase of the property.
While the idea seems wonderful on paper, there’s a catch.
Only residents of Italy or Italians living abroad are eligible for the offer and even they will have to live in the area for 10 years or rent the property out of that length of time. Failure to do so will result in paying back the grant, according to a report in CNN.
As many as 33 towns on the brink of extinction are being considered for the project, which is set to receive final approval in the coming weeks.
“The goal is to revitalise local communities and promote territorial cohesion,” said Maurizio Fugatti, president of Trento.
This is not the first instance when an Italian town has offered to pay money for people to come and live there. Last week, a town named Penne, located in Italy’s central region of Abruzzo, announced it was selling off abandoned homes for as low as one euro or little over a dollar.
“There are potentially over 40 empty buildings in town looking for new owners, and they’re all located in the historical center which has been declining since families started emigrating decades ago,” said Penne’s mayor Gilberto Petrucci.
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Italy’s demography challenge
Italy has been facing a severe demographic decline, perhaps the most severe in Europe. Scope Ratings has predicted that the European nation may witness an almost 19 per cent reduction in its working-age population by 2040 which exceeds the drop in countries such as Germany (14 per cent) and France (two per cent)
According to a report by the national statistics bureau ISTAT, there were more than 22,000 Italians in the age bracket between 100 and 104 in 2024, up from just over 17,000 in 2014.
The gradual aging of the population is causing problems for Italy, where the birth rate is among the lowest in Europe, with a heavy impact on public accounts because of huge spending on pensions and health care.