Houses to renovate for barely 1 euro, we already had that in Italy. But the deflation in the countryside is so dramatic that some villages go even further. Families receive thousands of encouragement euros or a birth premium of one thousand euros for their baby. The town of Teora, more than 100 km east of Naples, does it even differently: it pays the rent of new residents.
It is undoubtedly idyllic there, in that hilly, green landscape in the southern Italian region of Campania with the local capital of Naples. Amalfi is also there, and the picturesque coastal city can be found there too. And so is Teora. They have come up with a different plan than meager prices because in that case, it is mainly people looking for a country residence that seems to come over and no new permanent residents are added.
“I don’t believe in selling empty houses for 1 euro,” explains Stefano Farina, mayor of Teora, to CNN. “That doesn’t encourage people to really stay in the municipality.” As an alternative, Teora offers newcomers a monthly rent of 150 euros for two years. And for 200 euros per month, you can already rent something in Teora.
At least 1 child
Anyone who prefers to buy a house there – a new 100 m² property costs around 30,000 euros – receives a subsidy of 5,000 euros. Buyers pay barely 25,000 euros, which usually amounts to a lower amount than what someone else has to pay in other places in Italy for the renovation of their acquisition of 1 euro.
Conditions for the deal in Teora? Interested parties must commit to a stay of at least three years, and they must already have at least one child. The mayor only believes in a revival of his village if there are also school-aged children. “They are our future,” says Farina.
After the 1980 earthquake, the population fell dramatically in Teora, young people fleeing. The mayor tells CNN that barely two babies are born each year, while twenty older people die each year. Teora currently has only 1,500 inhabitants.
Two Italian families and one Brazilian family with Italian roots have already joined the project. “They even brought their grandparents,” Farina proudly says. He hopes that many more will follow.