This City in Italy Will Pay Half Your Hire If You Transfer There

Italy’s smallest cities have an extended historical past of promoting deserted houses for unbelievable costs to draw newcomers to take up residence. However now, slightly than merely providing homes for 1 euro, the city of Radicondoli, which sits about an hour outdoors of Florence, desires to provide you a bit of startup capital to your property as a substitute. 

In October, CNN reported on the small city that has dwindled from 3,000 residents to simply 966. In 2023, Radicondoli started providing 20,000 euros (roughly $23,000) to individuals who bought houses within the city, together with an extra 6,000 euros homebuyers might use for bills like heating. And, in keeping with the city’s mayor, the plan labored. Since 2023, it has funded 23 property gross sales and attracted 60 new residents. However now they need extra. So, it is increasing its plan to draw new residents by promising to cowl half of the primary two years of lease for brand spanking new tenants by early 2026.

“We have earmarked over 400,000 euros ($465,000) this yr to help new residence purchases and leases, alongside different key measures like monetary support to college students, public transport commuters, and inexperienced vitality subscribers,” Mayor Francesco Guarguaglini shared in an announcement about this system. 

And this is the true worth in selecting Radicondoli: These houses are removed from the fixer-uppers you see on supply for 1 euro. 

“We distinguish ourselves from the sale of homes at 1 euro. Right here, our houses have a price,” Guarguaglini mentioned. “Sociality, hospitality, and quite a few cultural initiatives are the added worth alongside the strategic location of the village.”

There’s additionally a slightly wide selection of houses out there to buy within the city. A look at Idealista exhibits listings like this charming one-bedroom house, which was once an olive mill. Whereas in want of a facelift, it comes with loads of historic appeal, because of its vaulted brick ceilings. It is at present listed at 180,000 euros.

Then, there are behemoth estates like this 25-million-euro natural farm with panoramic views of Radicondoli. The primary residence clocks in at about 10,000 sq. ft, which feels small on the two,718 acres of land. There are additionally 23 ruins across the property and horse stables, which may all be renovated into tiny flats.

There may be—and we hope you noticed this coming—a catch. To qualify for the house scheme, residents should keep within the city for at the least 10 years, whereas renters are required to remain for 4. Nonetheless, a lifetime in an lovable Italian village would not sound like a lot of a compromise. 

Be taught extra concerning the city’s housing schemes and how one can apply to participate at wivoaradicondoli.it.