Treasury Today Country Profiles in association with Citi

Picturesque Swiss village to pay people to live there

Winter landscape with an old wooden cottage in the swiss alps

A declining population is forcing residents to take drastic measures.

Residents of Albinen, near Leukerbad in Valais, Switzerland are soon to take a vote on whether they should pay outsiders £19,000 per adult to move to their quaint town.

The action comes off the back of an exodus of locals from the town over recent years, meaning that most of the properties are now holiday homes.

The disappearance of full-time residents has had some negative impacts on the town, such as the local school being forced to close.

There are certain conditions attached to the payment, however. For instance, prospective residents must be under the age of 45 and must stay for at least ten years. The house they buy or build has to be worth at least 200,000 francs (£152,000) and must be their primary residence.

According to the local village newsletter, the report is being billed as “an investment in the village’s future”.