Underpopulated mountain towns in Tuscany are offering incentives of up to $32,000 to attract new residents: What you need to know.

You may be able to turn your dream of living under the Tuscan sun into a reality.

The Italian region of Tuscany launched the "Residenzialità in Montagna 2024" program, which provides a financial incentive for individuals to relocate to rural communities in the area.

The Italian government is providing grants ranging from €10,000 to €30,000 or approximately $10,720 to $32,161 to assist individuals with the expenses of purchasing and renovating a home, as stated on the translated website.

The intervention aims to promote and support the growth of mountain communities, in contrast to their marginalization.

A total of €2,800,000 or approximately $3,001,712 has been allocated by Tuscany for grants that will cover up to 50% of the costs associated with purchasing and renovating a home in towns with a population of less than 5,000 residents.

To be eligible for the property, applicants must be either Italian citizens, EU citizens, or non-EU citizens with a long-term residency of at least 10 years. They must also make the property their permanent residence, register as residents in an Italian town, and not currently reside in another mountain town.

The application closes on July 27 at 1 p.m. local Tuscan time.

For several years, Italy has been implementing strategies to revitalize the population of rural towns across the country.

In 2022, the Sardinian government paid €15,000 to each of the 3,000 people who moved to the island, with the condition of settling in a town with a population of less than 3,000 people. The government allocated €45 million for these grants.

In Santo Stefano di Sessanio, people were offered up to $52,022 in grants to move and work there, while in the region of Calabria, new residents were promised $33,000 each.

Gianluca Gallo, a regional councilor, stated in 2021 that the objective is to revitalize small-scale communities and stimulate the local economy.

Using the OANDA conversion rate of 1 euro to 1.07 USD on June 27, 2024, all amounts were rounded to the nearest dollar.

To become a successful and confident communicator, enroll in CNBC's online course, "Become an Effective Communicator: Master Public Speaking." Our program will teach you how to speak clearly and confidently, manage your nerves, choose the right words and body language, and make a great first impression. Sign up now and use code EARLYBIRD for a 30% discount through July 10, 2024.

Sign up for CNBC Make It's newsletter to receive expert advice on work, money, and life.