Why are people buying Italy’s $1 homes? (ASL – 12.26.19)
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Some towns in Italy are willing to pay you to move there and have children.
The town of Borgomezzavalle is offering more than $100,000 to newcomers willing to start a family there.
That’s on top of selling abandoned mountain cottages for just over $1.
So far five houses have been sold, mainly to Italians and a group of monks.
Borgomezzavalle is just one of numerous Italian towns to offer incentives to prospective residents.
The offer was made to combat a falling population.
One in 4 small Italian communities have been classified as ghost towns in recent years.
Many Italians are moving to bigger cities for better opportunities.
Locana, a tiny Alpine village, is offering more than $10,000 for families to move there and take up residency.
Its population has fallen from 7,000 people in the 1900s to nearly 1,500 this year.
The Closed Caption version of this video can be found here:
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