Are you between 18 and 40 years old? Is it one of your dreams to live in a picturesque country and perhaps in the region of Gran Sasso and Monti della Laga National Park? If this is the case keep reading this article as we will provide you with some useful pieces of information regarding investment opportunities in this part of Italy.
Santo Stefano di Sessanio is a medieval hill town in the province of L’Aquila in the southern region of Abruzzo. The town is well-known for Sextantio, its upscale “albergo diffuso” where rooms, wine bars and restaurants are scattered in separate buildings which were formerly used as stables, wine cellars and farmers’ lodging. In addition to this, together with Castel del Monte, Santo Stefano has been named one of Italy’s prettiest villages (“I Borghi Più Belli D’Italia”) and it has also been recognized by the Slow Food movement for its sustainable agriculture and in particular for its gourmet lentils.
So why is this small village trying to attract potential investors?
Due to the aging population and to many young people who are leaving the town to move to bigger cities where there are more job opportunities, Santo Stefano di Sessanio, as well as other villages in Italy, launched an unusual initiative, i.e. paying future residents to repopulate the village – currently there are only 115 residents, 41 of which are over the age of 65 while just 13 people are under 20 years old. The village decided to offer potential residents up to $40,000 (approx. €34.000) to move there. More specifically, the potential new residents would receive funds for three years and they would be given a property to live or to work in. They would only be required to pay a small amount of money for rent. What’s more, the local council also decided to offer a one-off grant of $18,000 (approx.€15.200) to individuals who wanted to set up their own business as long as the business aimed to develop key areas such as tourism or the food industry.
What are the requirements to apply?
- You need to be an EU citizen, an Italian resident or be entitled to acquire Italian citizenship (visit the page Italian Citizenship Assistance)
- You need to be between 18 and 40 years old
- You need to be willing to live in the village for a minimum of five years.
Despite the fact that the deadline for this project in Santo Stefano di Sessanio has recently passed (November 15, 2020), it is worth bearing the above-mentioned information in mind in order to look out for similar opportunities. For instance, in Locana, Piedmont, the mayor offered potential residents €9.000 ($10,600) to move to the town and help the community re-flourish. Similarly, in Candela, Apulia, the mayor offered future residents €2.000 ($2,350) to move there in 2017.
In conclusion, what do these quaint little villages have to offer?
Besides property prices being very affordable, there is a sense of peacefulness in these small villages which are immersed in nature. In other words, what better opportunity is there than one that combines physical and mental well-being with a real estate investment opportunity?
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