Italy has 20 regions with varying climates, landscapes, and lifestyle activities. If you are unsure where to buy your property, start with deciding what you want by completing a Perfect Property Checklist. Then when you are ready to begin your search, we can help.
Only a tiny percentage of real estate agents in Italy speak a language other than Italian. Unlike other countries, many do not assist buyers with finding a property unless it is one of their own properties. Buyers quickly discover that they often have to work with several listing agents. However, our in-country partners are familiar with Italy’s territories and real estate markets, often speak several languages to accommodate clients and can coordinate interactions with multiple real estate agents.
It is also necessary to have a budget in mind and know the level of renovation you’re willing to take on. With municipalities dating back centuries ago, houses in Italy are comprised of everything from 1-euro homes to move-in ready properties. If you require finance, it is possible for non-residents to get a mortgage if they meet certain conditions. A mortgage specialist is essential in helping you secure a mortgage.
Before you place an offer on a property, you must have a “Codice Fiscale”, a tax identification number. It does not imply tax duties; you can get one free from your local Italian embassy or consulate.
An independent lawyer working to protect your interests will ensure your property purchase dreams become a reality, not a nightmare.
A currency specialist will help you get the maximum value from your currency transfer and help protect the cost of your property against currency market volatility by providing the ability to lock in a favourable exchange rate. A small change in the exchange rates could increase the cost of your property by thousands. You should open an account with a currency specialist at the beginning of your property search, and you will be ready to secure your dream property when you find it.
Yes, foreigners can obtain a mortgage. The typical loan-to-value (LTV) is generally 60%. We can help secure financing with competitive terms for foreign buyers. Contact us for details.
The total costs paid by the buyer range from 7% to 18% of the property cost. Below is a breakdown of those costs.
• Registration Tax – 2% – 9% (Private Sellers) or 200 Euros (Construction Company)
• VAT on Deed Registration (Construction Company) 4% – 10% – 22%
• Land Registry Tax (Ipotecaria & Catastale) 50 euros (private sellers), 200 euros (construction company)
• Notary Fee 1% – 2.50%
• Legal Fees 1% – 3% (+ 22% VAT)
• Real Estate Fees 1.5% – 4% (+ 22% VAT)
With so much choice in Italy, finding your dream property can be overwhelming. Help is available from the team at Overseas Property Forum and our network of experts. Let us help make your dream of a place in Italy a reality.