European Nation Will Pay You $140k To Move There

A European nation is offering expats $140,000 if they’re willing to pack up and relax into remote island life.

A European nation is offering expats $140,000 if they’re willing to pack up and relax into remote island life. As of July 1, the Republic of Ireland will begin handing out grants of up to €84,000 (A$137,000) for those looking to settle on one of the country’s coastal islands.

The 30 islands are lush, green and remote, with 300,000 visitors a year flocking to admire their fishing lakes, scenic vistas and ancient ruins.

It sounds as though people would be rushing to live there, but in fact, the islands are close to being uninhabited. Some have just two year-round inhabitants, while the largest has more than 700. In total, about 3000 people live across the 30 small isles.

Declining population levels, particularly a lack of young people, has caused concern for the central government, which released plans for the grants earlier this month. Between 1996 and 2016, the population of the islands fell by 12.8 per cent — and it’s prompted the Irish government to take action.

So, what’s the catch?

The islands included in the policy are cut off from the mainland daily by the tide and are not connected to it by bridges or causeways.

The grants are part of an existing scheme that runs across Ireland. Buying an existing, vacant property will get you €60,000 (A$98,000) if it’s on a remote island — just €10,000 more than if you bought on the mainland.

The largest amount — €84,000 (A$140,000) — goes to those choosing to buy derelict properties. Moving into a similar property on the mainland comes with an €70,000 (A$114,000) grant.

Further, the money is designed to help people to refurbish old properties that may otherwise decay — and it has to be used for that purpose.

The properties also have to have been built before 1993 and have been unoccupied for at least two years.

Other initiatives included in the 10-year plan are designed to improve the liveability of the islands by adding infrastructure and increasing job opportunities, including options for remote work.

“‘Our Living Islands’ contains 80 actions which are designed to support and empower our island communities and the people living there,” said Ireland’s minister for rural and community development, Heather Humphreys.

“It’s all about improving housing, better access to essential services in health and education, delivering high speed broadband, and further developing our outdoor amenities, which will in turn increase tourism and support sustainable island communities.”

Ireland’s remote island payment is one of several launched worldwide as countries vie for immigrants to relocate to their most remote regions.

Last year, the Italian island of Sardinia offered people €15,000 (A$25,000) to move there if they used the money to renovate a property, while several towns have sold homes for just €1 or given them away for free.

In Australia, an outback Queensland town is so keen to grow it’s offering people $20,000 to move in. The scheme aims to grow the population of the Quilpie Shire, 1000 km west of Brisbane and close to the Northern Territory border, by 20 per cent to 1000.

With some parcels of land in the shire worth less than $20,000, it effectively means you could pick up a property for free.

– Agency

Source : News.Com.Au