Inside the beautiful town that's actually paying people £50,000 to move there

11 March 2023 , 13:27

472     0

The stunning village of Albinen sits 4,265ft above sea level in Valais, Switzerland (Image: Cyril Zingaro/EPA-EFE/REX/Shutterstock)

A town in Switzerland is offering new residents a tidy £50,000 for moving there.

The stunning mountain village of Albinen sits on at an elevation of 4,265ft in the Swiss region of Valais, which shares its southern borders with both France and Italy.

Despite the town's gorgeous surrounding, including a vast expanse of crisp snow-tipped peaks as far as the eye can see, it has faced extinction for several years as residents leave in droves in favour of nearby cities.

By the end of 2020, the economic exodus left just 243 residents in the village.

Since 2018, town officials have been trying to claw back numbers, with tasty financial incentives.

London flat for rent for £1,400 a month with bed tucked away in kitchen cupboard

The village is ideally located, being just four miles from the spa town of Leukerbad, 35 minutes from the Canton capital of Sion and city of Visp.

Officials have been trying to attract residents for five years (Cyril Zingaro/EPA-EFE/REX/Shutterstock)

But due to a lack of jobs, locals have been forced to up sticks.

In the hopes of attracting new house buyers, families of four are being offered £22,440 per adult, with each child getting £8,975.

But the attractive offer doesn't come without a catch or two, including that only under 45s can claim it.

Applicants also need to be Swiss citizens with a permit C residence - which can be obtained by living in the country for five years if you are a citizen of an EU of European Free Trade Association country, or from the US or Canada.

For other countries, including the UK, you would have to live in the country continuously for 10 years.

The house you buy must reach a valuation of £180,000, and you must stay in Albinen for at least a decade.

Should you decide to leave before, you'll have to repay the bumper sum.

Describing the village in 2017, municipality president Beat Jostin said it was quiet, with incredible views and good air quality. He added that the area gets massive amounts of sunshine per year.

He added: "Second homes and large residential complexes of investor groups are out of the question.

UK house prices fall again - down 3.2% from last year peak, says Nationwide

"Anyone who moves away again ten years after the start of construction or after buying the house must repay the money."

But the strict requirements might be worth working at, as Switzerland has one of the best education systems in the world, with a high life expectancy and low rates of violent crime.

Ryan Fahey