A picturesque Italian island is offering £13,000 to anyone who moves there, with houses sold for as little as one euro.
Sardinia is the latest Italian region to be hit by a declining population due to an exodus of young Italians moving to larger cities or overseas for work, meaning the towns from which they hail are somewhat left behind.
In a bid to repopulate the area, officials are offering couples up to 15,000 euros (£13,000) to buy or renovate a home and up to 20,000 euros (£17,400) to start a business.
They will also receive 600 euros (£522.46) for their first child, plus 400 euros (£348.31) for each subsequent child until they turn five.
However, there is a catch for those choosing to move to the Mediterranean island.
The offer is only for people willing to move to certain areas of Sardinia – including regions with fewer than 3,000 residents.
Residents must also live in Sardinia full-time and register as permanent residents within 18 months.
Sardinia is a large, rugged island known for its stunning beaches and clear turquoise waters.
Sardinia is the latest Italian region to be hit by a declining population due to an exodus of young Italians moving to larger cities or overseas for work. Pictured: The town of Buggerru in Sardinia, Italy
As the second largest island in the Mediterranean, the area boasts sandy beaches and breathtaking mountain views.
In 2023, a similar scheme was introduced, which Sardinian President Christian Solinas explained was all about creating new opportunities for locals, according to The Sun.
He said: ‘We have created the conditions for young people to decide to stay and (develop) the economic fabric of the most fragile territories.
‘Thanks to the contributions to their first houses, this is strengthened and becomes fertile ground for those who will move there or decide to build a family.
‘There can be no growth without a real enhancement of the territories, of the interior and most disadvantaged areas, which must pass through new policies for their repopulation.’
In 2023, Sicily began auctioning off abandoned houses with a one-euro starting bid to regenerate the village.
A host of plucky Americans decided to take the plunge and move out there, and one, Meredith Tabbone, 43, from Chicago, bought a property that had no electricity or running water and had a roof thick with asbestos.
Although bids started at just one euro, she threw in a random offer of £4,400 – and found out she was the successful buyer months later.
As the second largest island in the Mediterranean, the area boasts sandy beaches and breathtaking mountain views
It cost Meredith 750 euros (£661) to hire a team to remove the roof in an environmentally safe way.
Meredith then bought the empty home next door for £27,000 – and spent 46 months and £210,000 knocking them together to build a 3,000sqft four-bed getaway.
She plans to stay in the house part-time – and calls it her ‘extended vacation home’.
Since then, Meredith has bought two guest houses in the same village for £28,000 in total, and a disused building for £58,000, which she’s turning into a gallery and café.
Italy isn’t the only European country offering financial incentives in an effort to boost dwindling populations and breathe new life into abandoned villages.
Ambert, located in the southeast of France, recently adopted the tactic in the hopes of stopping its population of 6,500 from shrinking any further.
The move is part of a wider five-year plan to attract new residents and rejuvenate local life.
In one area of the town, property vacancy rates have reached up to 60 per cent, prompting authorities to put two empty homes on the market for just one euro each – the equivalent of 85p.
Ambert, located in the southeast of France, recently adopted the tactic in the hopes of stopping its population of 6,500 from shrinking any further
But, like many similar schemes, such as those seen in Italy, the offer comes with its fair share of terms and conditions.
While the initial cost is an indisputable bargain, buyers are expected to invest significantly in renovations and meet strict requirements if they want the keys.
To begin with, second-home buyers are prohibited from buying into the scheme.
According to The Local, those who purchase a 1 euro house in Ambert must commit to living in the property full-time for at least three years once it’s been made habitable.
If they fail to do so, they risk financial penalties, including the repayment of any government grants given for refurbishment works.
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