Italian Region Passes Law Banning Outsiders From Buying Holiday Homes

Officials said holiday home purchases drove up home prices beyond what locals could afford.

Hospitality has screeched to a near halt in Italy’s breathtaking South Tyrol region, as officials move to strictly regulate property purchases by “outsiders.”

According to The Telegraph, the country’s northeast province of Bolzano has banned both foreigners and Italians from buying holiday homes in the area, after concluding the effect on the real estate market was driving up house prices beyond what locals could afford.

The largely German-speaking region’s new mandate states second homes can only be purchased by residents who have spent five years living in the region, or those who work locally.

Provincial Governor, Arno Kompatscher, reportedly said the action was taken “for the defence of the Heimat” (defense of the homeland).

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