There’s been quite a few beautiful Italian towns selling houses for just €1 recently, including Bisaccia in the south of the Campania region, just two hours from Naples, and Sambuca and Mussomeli in Sicily.
Now another stunning Italian town is offering something a little bit different, but just as good if you’re struggling for cash and want a new life in the sun.
Teora sits at the base of Mount Cresta del Gallo in southern Italy’s Campania region, a stone’s throw from Naples, the Amalfi coast and the hill towns of Puglia.
Sounds good, right? Well in even better news the local government will actually pay your rent if you move over and live in the town.
Local mayor Stefano Farina thinks offering free rent rather than cheap houses that need doing up will have a longer-lasting impact on the local community.
There is a catch, however, and to qualify you need to live in Teora for a minimum of three years, and already have at least one kid when you apply.
Mayor Farina told CNN Travel: “I don’t believe in selling empty houses for 1 euro, that doesn’t incentivise people to stay in town… They just come a few months a year as holiday-makers. That’s not the solution. But taking up residency and enrolling kids at the local school, that does breathe new life.”
If you’re accepted onto the scheme you’ll get approximately £125 a month towards your rent over the course of two years, or a lump sum of £4,150 that you can put towards buying a house. To put that into perspective, houses can cost as little as £150 to rent, and can sell for as low as £23,000 in Teora, and according to CNN the available properties are all in good condition, with some even furnished – all in all, it’ll cost a lot less than the €1 houses you have to renovate.
Farina says the town’s population issues started in 1980, after a massive earthquake killed 157 residents and destroyed many of the local historical and cultural buildings.