Episode Transcript
Welcome to Magic Towns, Italy. If you're dreaming of La Dolce Vita as an expat or retiree, well, you've, uh, come to the right place. Today we're unpacking a couple of key pieces First up, we're going to dive into those. Often talked about one euro homes in Italy. We'll try to look beyond the romantic idea and explore yeah, get into the reality of it. And then after that, we'll be setting our sights on a specific location, our featured city for this week. Trieste. We'll give you a good sense of what makes this Northeastern gem potentially worth considering. Okay. So these Euro homes, I mean, it sounds incredible, doesn't it? Well, it really got, going around 2017, it was basically a way for these severely depopulated villages, often quite rural to try and combat, you know, urban decay, right? You see what happened is a lot of younger Italians moved away for jobs leaving behind empty family homes, and sometimes these places were just abandoned maybe to avoid taxes and upkeep. Local authorities saw offering them for a symbolic price, like one Euro as a way to hopefully attract investment and bring in new residents. That makes sense. One of the towns that got a lot of press early on was Gangi in Sicily. A lot of foreigners actually bought properties there. Interesting. So if, if this idea has caught your eye. If you're listening, thinking about it, where are you most likely to find these opportunities today? Primarily, it's still in the South, in Sicily. That's where it all began and where many schemes are still active, but it has spread you can find towns participating in Sardinia, Calabria, Campania, Malise, Abruzzo, uh, Piedmont, even, uh, Puglia now. Wow. Quite a few regions then. Yeah. But they tend to be smaller, more rural communities. Uh, the ones facing population decline. Um, they often have fascinating histories. Beautiful landscapes, the economic opportunities might be pretty limited. That's the trade off, I guess. Exactly. And recently even, um, some mountain towns up in the Veneto region have shown some interest. You mentioned a few specific towns earlier. Could you give us a quick snapshot of maybe one or two, just so people get a clearer picture of the kind of places we're talking about? Sure. Take Sambuca in Sicily. It's got lovely views near vineyards, and there's a growing expat community there. Sounds nice, but it's pretty remote. You absolutely need a car and it gets very quiet outside the main summer months. Okay, another one, Mussomeli, also in Sicily. It has a. Really authentic historic character. The local government seems quite proactive and there's an engaged international community. downside. It's inland, no train station nearby and local job opportunities are quite scarce. right. And Gangi, the original success story. Yeah. Gangi Beautiful. Mountain setting, they really transformed the historic center, but it's um, very isolated. Think winding roads. Not many local services. Right there. Okay. So definitely different vibes. What about somewhere that isn't a tiny village? Well, Taranto in Puglia is an interesting case. It's more of a mid-size coastal city. But the Euro homes are often in the old town, which has faced significant neglect, and there is some historical pollution issues in the wider area. So that raises potential, you know, safety or livability questions. Different challenges. Then you've got Ollolai. Sardinia, a mountain village, very strong Sardinian traditions. They even offered incentives for families, but again, very rural, limited infrastructure. Takes a while to get anywhere and maybe Pratola Peligna in Abruzzo, it's near National Parks, relatively accessible compared to some others, but it's in a seismic zone. It's got a small town economy and the winters can be pretty cold. So yeah, these examples. Really highlight the variety and crucially the trade-offs you need to consider. That one Euro kind of price tag is clearly just the beginning. What are the main sort of strings attached that people absolutely need to be aware of? Right. That's the crucial part. The Euro is purely symbolic. The real commitment is the renovation. Buyers are almost always required to fully renovate the property, usually within a set time frame, often around three years. Three years. Wow. And they're off often interim deadlines too, like submitting your plans quickly, starting the work by a certain date. If you don't meet them, you could face penalties or, uh, maybe lose your deposit. But there's a deposit too. Yes. Usually a security deposit, uh, maybe somewhere between, say $1,000 to $5 depending on the town. You get it back if you complete the renovation on time. And of course, you, the buyer are responsible for footing the entire bill for the renovation. And I'm guessing these renovations are just, you know, a quick paint job and, and some new furniture. Not at all. We're, we're usually talking about properties that are derelict, sometimes structurally unsound. The renovations need to meet local building codes. And very often there are strict rules about preserving the historical look of the exterior. Right. Heritage considerations. Exactly. Plus, you have to get all the necessary permits, which can be a slow process In Italy, all the paperwork will be in Italian. You'll need an Italian tax code. And you absolutely have to use an Italian notary for the property transfer. That's a legal requirement. Lots of bureaucracy then definitely. And. One really important point. Buying one of these homes doesn't automatically grant you residency rights, especially if you're a non-EU citizen. That's a whole separate process. That's a critical distinction. Yeah. So weighing it all up, are these Euro home deals generally a good opportunity, or are they. Perhaps more trouble than they're worth for most people. Hmm. It really depends. There are certainly success stories. People have breathed new life into these old buildings and become part of a small community and ended up with a unique home. The initial purchase cost is obviously tiny, and sometimes you can access tax credits for renovation. So it can be a good fit if you're genuinely passionate about the project. You have sufficient funds set aside, and we're talking potentially $20,000, $30 minimum, but often much more. Yeah. Okay. That adds up fast. It does, yeah. And you need a flexible lifestyle. Patience for bureaucracy, and probably some hands-on skills or good project management abilities. On the downsides. Well, renovation costs can easily spiral way beyond initial estimates. People have reported spending six figures. You can uncover all sorts of unexpected problems in old houses, structural issues, damp, you name it. It happens everywhere. Navigating the red tape, especially with language barriers, can be incredibly frustrating and slow. And the lifestyle in a very remote village might just not suit everyone long term. Plus, don't expect to flip it for a quick profit. Resale in these areas can be difficult. So it sounds like for many people, maybe just looking at the broader market for affordable, perhaps already habitable properties might be a more practical route. Absolutely. I think that's often overlooked. Rural Italian real estate in general can be very affordable. You can frequently find perfectly livable homes, maybe needing some updating, but not a full rebuild for between say, 10,000 euro and 50,000 euro. That's still incredibly cheap compared to many places. And the benefits are significant. Likely less red tape. You can often move in much sooner. You have a vastly wider choice of locations, not just the specific towns running these schemes, and it's still very inexpensive overall. You might even be able to get a mortgage, which is usually impossible for one euro ruin. That makes a lot of sense. Yeah. For many expats, honestly, this offers a much smoother, less stressful transition into Italian life. You can settle in quicker, start integrating into the community. Good point. Are there any other financial incentives or schemes in Italy beyond the Euro houses that people looking to move there should maybe be aware of. Yes, definitely. It's worth looking into regional or local initiatives. Some areas offer grants or subsidies specifically to attract new residents or encourage property renovations separate from the Euro deals. Like what, for example? Well, Trentino in the North had a quite substantial renovation grant, though it came with a pretty long residency requirement and had age restrictions. Molise down south offered a monthly stipend for a few years if you moved there and started a business in a small town. Calabria also had relocation grants aimed at people under 40, willing to start a business, and Sardinia offered grants, I think, up to 15,000 euro for people moving to towns with fewer than 300 people and buying a, renovating a home. There can also be local tax breaks or sometimes properties offered for nominal rent. The key thing is these often have very specific criteria, maybe needing EU citizenship or existing long-term residency rights or strict business requirements. So you need to read the fine print carefully. Always the fine print. So wrapping up this part, what are maybe two or three. Key pieces of general advice for anyone listening. Who's dreaming of finding any home in Italy Top advice, first. Research locations thoroughly and visit them. Don't just rely on photos online. Go there. Ideally off season too. See what it's really like. Um, crucial. Second, think long-term logistics. Seriously consider things like work opportunities or reliable internet if you need it. Access to healthcare, schools, if relevant, how easy it is to get to an airport and yes, what the winters are actually like. Practical stuff. Very practical. And third. Budget realistically factor in not just the purchase price and renovation, but also notary fees, taxes, agent commissions, and ongoing costs. Maybe at a rough estimate, like 800 to one to 200 euro per square meter for decent renovation. As a starting point. Okay. Oh, and learns some Italian. It makes everything easier from dealing with bureaucracy to actually integrating and enjoying daily life. Local expat groups, they can be an invaluable source of practical advice. Great advice. That's a really helpful, deep dive into the Euro Homes phenomenon and finding a place in general. Thanks for that. Now let's shift gears and turn our attention to our featured city this week. Trieste. Right, Trieste, it's located way up in the northeastern corner of Italy in the Friuli Venezia Giulia region. It's right on the border with Slovenia and very close to Croatia as well. Okay, so very border region. And historically it was a really important port city for the Austro-Hungarian Empire. Um, you can still strongly feel that central European influence in its architecture, its cafes, this whole atmosphere really. It mixes italian and sort of middle European culture. Interesting blend. Yeah, it makes it quite unique in Italy. generally it's considered a mid-size city, relatively quiet compared to Rome or Florence, but it does have a growing international and expat community. Okay. And what about, uh, the day-to-day experience? How, how would you rate the quality of life in Trieste? Quality of life is generally rated quite highly. It seems to offer a nice balance. You get city amenities and culture, but you also have really easy access to nature. The Carso plateau behind the city, the sea in front. Public services are generally efficient. It seems particularly appealing perhaps to retirees or those looking for a calmer pace, but still wanting good connections. and how are those connections getting around? Getting in and out? Pretty good. Actually. It has its own airport, Trieste Airport, which is only about a 25, 30 minute drive from the city center. Convenient. Venice. Marco Polo isn't too far either. Maybe an hour and a half drive or train ride. The main train station has decent connections, including to Venice, about two hours. Udine Padua, maybe fewer high speed options compared to major hubs, but still well connected regionally. And within the city Public transport is reliable and covers the city and surrounding areas pretty well. A ticket's quite cheap. The city center itself is very walkable. A car can be useful, definitely if you wanna explore the region, those car, so trails I mentioned nearby. Mountains, maybe pop over to Slovenia or Croatia, but parking within the city center can be a challenge like in many Italian cities standard issue. What about the financial side? Is Trieste considered an expensive place to live? Compared to other major Italian cities like Milan or Rome? No, it's generally considered more affordable, both for cost of living and housing. Of course, prices vary a lot depending on the neighborhood, the city center. Especially the historic parts like Borgo Teresiano, or Città Vecchia, and the areas along the coast like Barcola or ano tend to be pricier, but areas just outside the immediate center like San Giacomo or Ano or even slightly further out, can offer much more budget friendly options for renting or buying. Demand does tend to pick up between July and November. Good to know. Now every place has its challenges. What are some of the things someone considering Trieste should definitely be aware of? Any downsides? Yes. There are a few specific things. One is the wind. Um, Trieste is famous. Or perhaps infamous for the Bora. Ah, yes, I've heard of the Bora. It's a strong cold, northeastern wind that can blow quite fiercely, especially in winter. And it can make the temperature feel much colder than it is, um, racing. Definitely. Summers, on the other hand, can be quite hot and humid because it's coastal, the humidity can make it feel sticky and sometimes nighttime temperatures don't drop much. Okay. Climate factors. Anything else? The job market can be a bit challenging, particularly maybe for younger professionals or those in very specific fields. The main opportunities tend to be in sectors like public administration, education, research, shipping, and logistics because of the port and insurance. And maybe social life, while it's a university city and has an active, albeit smaller expat community, I hear there's a regular weekly aperitivo meetup. The nightlife options are generally considered more limited compared to say Bologna or Florence. Okay. So maybe not a party city? Probably not. No more of a cafe culture enjoy the seafront kind of place. Got it. Yeah. But overall, pulling out the positives. What are the main reasons someone would choose Trieste? Well, on the data side, things look good, excellent air quality. Generally, healthcare is considered excellent. Part of the highly regarded Friuli Venezia Giulia Regional System. Internet speeds are generally fast Important these days. Very, and its location really is strategic, not just for travel, but for that cultural blend we talked about. It's seen as having a generally mild climate overall, despite the Bora and summer humidity. And the community is often described as welcoming. And just to recap the potential cons or things to weigh up. So besides the potentially limited nightlife, you might find less variety in international cuisine compared to really big cosmopolitan cities. The language barrier while manageable is still there, knowing Italian is definitely beneficial. That summer humidity we mentioned, the pace of life might feel a little bit slow. And yes, the expat community while growing and active is smaller than in places like Romer Milan. Oh, and it does get some tourists, especially cruise ships, which can make the main squares busy at times. Right. Puts it in perspective. So summing up who do you think might find it a particularly good fit? Who is it likely to appeal most to? I think Trieste that really shines for those seeking a calmer, more relaxed, community focused environment. It seems particularly attractive to retirees perhaps, who value high quality healthcare, good transport connections for exploring that easy access to both the sea and nature. And a generally high quality of life without the chaos of a huge metropolis. Maybe also remote workers who, who appreciate the infrastructure and affordability. That makes sense. A clear picture there. Well, we hope this deep dive, looking first at the realities of the one Euro homes concept and then giving you this overview of Trieste has provided some valuable insights for you as you explore your options for living in Italy. Yeah, the dream is definitely achievable, but as we've seen, it requires careful thought and research that goes beyond just the headlines or the romantic notions. Absolutely. And remember, for much more detailed information on Trieste. Specifically things like infrastructure breakdowns, local amenities, healthcare specifics, schools, plus a wealth of resources for expats, make sure you visit magic town That's right. You'll find really comprehensive data, tools and guides there to help you dig deeper and hopefully discover your perfect Italian town.
