Written by Roseanne Bradley,
3rd January 2023

Grand piazzas, trattorias, olive mills and traditional Italian bakeries… all of this could be on your doorstep with a move to Presicce Acquarica, and you could get a grant of up to €30,000 for moving there.

Presicce-Acquarica is a southern Italian town of around 10,500 inhabitants in the region of Puglia has recently launched a financial incentive campaign to boost population numbers.

Said initiative, titled “Welcome to Preccice-Acquarica,” promises a grant of €30,000 for those who buy a home there and register residency in the town.

Acquarica del Capo, Presicce, Salento, Puglia, Italy

Picturesque Preccice-Acquarica

Presicce-Acquarica is a desirable spot, it’s a wonder why it has seen a lack in popularity in recent years. If you’re interested in living in a small town with a historic background, small-town lifestyle, and friendly atmosphere, this could be a shout for you.

Presicce used to be a thriving centre for merchants and master craftsman but has seen a decline in population in recent years. When ruled by Barons, the town was decorated with palazzi and monuments that add appeal to the historic centre. Here you’ll find pretty, winding streets that long to be explored, plus, the Baroque church of Sant’Andrea Apotolo.

Acquarica del Capo merged with Preccice in 2019. Developed in the Middle Ages, the town grew around a Medieval castle. Located just 10km from the Ionian Sea and 60km from Lecce, it’s a wonderful southern town in Italy’s famous boot.

If you’re interested in starting a family in Italy, Preccice-Acquarica is also presenting €1,000 for every newborn in the region, as a lure to combat its aging population.

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The incentive

Speaking to CNN, local Preccice-Acquarica councillor Alfredo Palese told CNN, “There are many empty homes in the historical centre built before 1991 which we would like to see alive again with new residents.

“It is a pity witnessing how our old districts full of history, wonderful architecture and art are slowly emptying.”

The financial grant is designed to attract individuals and families looking to move their official residency to Southern Italy, officially the Salento town. To qualify, the scheme requires an investment in a house and the cost of said home will be subsidized by a grant from the Municipality of Presicce-Acquarica. The aid is available to cover 50% of a home purchase cost, including renovations, up to a maximum of €30,000 (£26,464*)

*Correct as of 03.01.23

Traditional Wheat Sculpture at wheat festival in Acquarica del Capo
I Image: DinoPh via Shutterstock

What is available in the incentive?

According to Forbes, up to 30% of the housing stock is eligible for the incentive. Most properties are under €100,000 and would largely benefit from a renovation.

To find out the specifics of the scheme and where to look for properties, head to the town’s website.

Financial aid in Italy is quite a common incentive to drive newcomers to small towns

Other Italian incentives

In September 2022, the idyllic island of Sardinia offered up to €15,000 each for those who moved to a Sardinian town with a population of less than 3,000. To qualify for the financial aid, you had to put the full amount towards home renovation, live there full-time and register as a Sardinian resident within 18 months.

If living La Dolce Vita is on your bucket list but you have financial concerns, keep an eye out for governmental incentives like these ones, and you could be in Italy sooner than you think.

For advice on managing your money abroad or financing a move overseas, why not speak to our trusted partner Smart Currency Exchange today? Click here to find out what services they offer.

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