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Italy will pay up to 32 thousand dollars to those who move to Tuscany

Natasha Kumar By Natasha Kumar Jul4,2024

>> People are encouraged to move to Tuscany/diana.grytsku

Have you ever imagined living under the Tuscan sun? If so, your dream could become a reality thanks to a new initiative in this picturesque region of Italy, which is offering financial incentives to people who want to move to its charming, less populated towns.

With the “Residenzialità in Montagna 2024” (“Residence in the Mountains 2024”) program, Tuscany is trying to attract new residents to its rural mountain communities by providing grants ranging from €10,000 (about US$10,715) to €30,000 (about $32,145) to help cover the costs of buying and renovating a home. Forbes writes about it.

There are 76 towns to choose from, and their locations are very attractive. Built on a steep rock, Castelnuovo di Val di Cecina – is a small medieval village in the Maremma foothills. The spa town of San Casciano dei Bagni, famous for its therapeutic thermal baths, is ideal for residents seeking relaxation and wellness. Art lovers may be attracted to Caprese Michelangelo, birthplace of the artist Michelangelo. The ancient castle of San Niccolò, in the province of Arezzo, is located near Florence. Or maybe you want to live on an island? The island of Capraia Isola is located in the heart of the Tuscan archipelago.

According to real estate website Idealista, the average price of buying a house in Tuscany's cheapest province, Pistoia, is €1,472 per square meter. That's about $163,200 for a 1,200 square foot home. Compare that to the U.S., where the average price per square foot is about $222, according to the Federal Reserve Bank of St. Louis, meaning the average price of a 1,200-square-foot home is $266,400.

This the initiative is aimed at rejuvenating and stabilizing the population in these areas, which has significantly decreased in recent years.

The goal of the intervention – to promote and encourage settlement and socio-economic revitalization of mountain areas, acting against the marginalization of these territories,
– the authors of the program note.

In 2016, the Italian Ministry of the Environment published a study that showed that almost 2,500 cities are so depopulated that they will not survive for more than 25 years. And last year, CNN reported that there are about 6,000 abandoned villages across the country.

A lot of effort has been made to save these dying towns: from millions in grants under the European Recovery Plan Union to grassroots efforts aimed at attracting new residents. Schemes used elsewhere in Italy include the island of Sardinia (which offered new residents around $15,000), the village of Prezicce (around $30,000), the Calabria region (around $33,000) and the village of Santo Stefano di Sessanio (up to $52,500 ).

With a total fund of €2,800,000 dedicated to the revival of these mountain communities, Tuscany aims to breathe new life into its beautiful landscapes.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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