An Italian town is offering to pay most of your rent if you move there, but you have to have a kid and be willing to commit to 3 years
- The Italian town of Teora hopes to encourage more people to move in by helping to pay rent.
- CNN reports the local government will pay newcomers €150 ($162) per month for two years towards the cost of renting a house, or a €5,000 ($5,400) lump sum to buy a home, while also offering to waive local taxes and school meal fees.
- Rent in Teora can be as low as €200 ($216) per month, according to CNN, while a 100 sq. meter (1,076 sq. ft.) home can be bought for €30,000 ($32,385). Some of the homes even have furniture.
- However, potential residents need to have at least one child and commit to living in Teora for at least three years to be eligible.
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If the many Italian towns selling homes for as little as €1 aren't enough to lure you in, consider this: the town of Teora, about 90 km east of Naples, is actually paying people to move there.
In order to help attract new residents, the local government will pay newcomers €150 ($162) per month for two years towards the cost of renting a house, or a €5,000 ($5,400) lump sum to buy a home, according to CNN.
The outlet also reports rent in Teora can be as low as €200 ($216) per month, while a 100 sq. meter (1,076 sq. ft.) home can be bought for €30,000 ($32,385).
With the saving, this means you could potentially rent a house for €50 ($54) a month, or buy a house for €25,000 ($26,986).
According to CNN, Teora's government is also offering to waive school meal fees and local taxes. About 100 homes are available, and the homes are all said to be in good condition, with some of them even already having furniture.
Teora mayor Stefano Farina told the outlet the town's population declined after an earthquake in 1980, and has not recovered.
"Two babies are born [in Teora] each year versus 20 elders who die," he said. "We're down to barely 1,500 residents."
There are a couple catches for people who want to move to Teora to take advantage of the offer, however. To be eligible, prospective residents need to commit to living in Teora for at least three years. It's also a requirement to already have at least one child.
Farina told CNN the reason for the rules is to convince people to actually move to Teora, instead of just buying homes and not living in them.
"I don't believe in selling empty houses for €1 ($1.08), that doesn't incentivize people to stay in town," he said. "But taking up residency and enrolling kids at the local school, that does breathe new life."
People interested in Teora's offer can visit the town's website for more information, and email staff@comune.teora.av.it.
Teora is not the only Italian town to offer incentives for new residents.
The town of Locana has offered residents €9,000 ($9,724), paid out over three years, to people who move there. However, like Teora, new residents in Locana, located in northern Italy, need to already have a kid to be eligible, and need a salary of at least €6,000 ($6,483).
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