An Australian family from the Gold Coast is relocating to Italy to escape mounting cost-of-living pressures and the burden of their mortgage. Krysti-Glory Gallo and her husband Ricardo Parata, along with their two children, plan to move to a three-bedroom property in Lucca, Tuscany in February 2027, which will allow them to own their home completely mortgage-free. The move represents a fundamental shift in their financial priorities, driven by the realisation that rising living costs have made their current situation unsustainable despite earning a combined $150,000–$160,000 annually.

The couple purchased their Gold Coast home in 2023 for AUD $525,000 and expect to sell it for approximately AUD $1 million, leaving them with roughly AUD $450,000 in equity after paying off the remaining AUD $600,000 mortgage. They will use this equity to purchase the Italian property for €205,000 (approximately AUD $330,500), acquiring a comparable three-bedroom home with additional garden space. In Australia, they currently spend a minimum of AUD $120,000 annually whilst managing two jobs; they estimate that moving to Italy will reduce their annual living costs to just €45,000 (approximately AUD $72,500), significantly improving their quality of life and financial security.