An Italian Countryside Village That Offers 40 Million Won When You Move In

Puglia's Presicce with 9,000 Residents Offers 30,000 Euros to Newcomers
Condition: Buy Empty House and Live There... Money Left Even After Purchasing One Home

Freshche-Aquarica authorities Facebook capture. Photo by Yonhap News

[Asia Economy Reporter Kim Hyunjung] A rural village in Italy has introduced a groundbreaking incentive to pay up to 30,000 euros (about 40 million KRW) to new residents moving into the village.

According to a report by CNN on the 18th (local time), Presicce, a picturesque village in southern Italy's Puglia region, offers a support fund of up to 30,000 euros to new neighbors who purchase and reside in vacant houses in the village. The average price of houses in this area is about 25,000 euros (approximately 33.33 million KRW), so buyers can still have money left after purchasing a home with the support fund. Presicce is located in the heel of the boot-shaped Italian peninsula, very close to sandy beaches and turquoise clear seas.

The Presicce authorities hope that the support fund will breathe new life into this depopulating area, where the number of newborns each year is less than the number of deaths. Alfredo Palese, a local council member, said in an interview with CNN, "There are many vacant houses in the historic district of the village, and we want to see this place come alive again with new residents." He added, "It is heartbreaking to witness our village’s old town, full of history, beautiful architecture, and art, gradually emptying."

The authorities also offer tax benefits for new business activities and bonuses for families with children. To receive the 30,000 euros, one must purchase a house built before 1991 and reside in Presicce. The housing price here is 500 euros per square meter, so buying a 50㎡ house costs 25,000 euros.

Presicce was able to secure additional funds through a merger with the nearby village Acquarica in 2019. According to Italian law, it plans to receive about 1 million euros (approximately 1.33 billion KRW) annually in public funds for several years to invest in revitalizing the village, including paying support funds. Currently, about 9,000 residents live in Presicce and Acquarica, but only half of the population resides in the old town.

House Prices in Maenza Village Near Rome at 1 Euro

Italy has many rural villages struggling with population decline. Last year, houses priced at just 1 euro (about 1,330 KRW) were put on the market not in remote areas but in villages near the capital, Rome. Maenza village in Lazio, near Rome, began selling old stone houses for just over 1 euro in August last year. The local mayor stated, this village regeneration project was started to breathe new life into the quiet village. The Sicily regional government also offered 1-euro houses, but only those under 40 years old can purchase them, and remodeling must be completed within three years of purchase. Remodeling costs range from 10 million to 30 million KRW.

This content was produced with the assistance of AI translation services.