You will get nearly P2 million if you move to this city in Italy

In recent years, many towns all around Italy have been competing to introduce new initiatives and ideas aimed at enticing people to come and live there.

In a bid to resuscitate their fortunes, there has been a frenzy of competition, with residences ranging from run-down structures going for less than a dollar to ready-to-move-in properties being sold for rock-bottom prices, according to CNN International. The most recent player to enter the game with a tempting offer is the charming town of Presicce in the sunny region of Puglia.

According to CNN, the officials have informed that the authorities have come up with quite a great deal as per which anyone wanting to move there will receive up to 30,000 euros, which is equivalent to nearly P2 million (current day conversion rate).

CNN has reported that the money is being given to purchase an empty home and take up residency.

Even better, the homes included in the agreement are available for sale for as little as 25,000 euros (P1.5 million). They were long abandoned by their original owners, just like other inexpensive houses for sale all around Italy.

Additionally, the location is fantastic, being close to Santa Maria di Leuca's powder beaches and crystal-clear waters while being surrounded by the Salento region's natural beauty in the heel of Italy.

CNN said the authorities in Presicce are hoping that the promise of a financial incentive will revitalize their depopulating town, where there are fewer newborns every year.

"There are many empty homes in the historical center built before 1991 which we would like to see alive again with new residents," local councilor Alfredo Palese told CNN.

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

"We will be offering up to 30,000 euros to people willing to move here and buy one of these abandoned dwellings," he added.

"The total funding will be split in two: it will go partly into buying an old home and partly into restyling it if needed."

CNN said the town hall had previously introduced several programs to entice inhabitants, such as tax incentives for starting new businesses and baby bonuses for families with children.

Buyers must move to Presicce and acquire one of the pre-1991 houses that have been identified by officials in order to be eligible for the 30,000 euro incentive.

Palese told CNN that the starting price for a home is 500 euros (almost P30,000) per square meter. You should be able to purchase a 50-square-meter home that needs some work for about 25,000 euros (P1.5 million). (ANI)