Buying Italian Real Estate
Buying a property in Italy is no different to buying a property in any country. It is wise to have sound legal advice to hand at all times and using a local Solicitor or Lawyer resident and familiar with Italian Real Estate Law is highly recommended.
Our partners within Italy can provide independent advisers and legal counselling as well as providing their own services at the disposal of International Property Developer's clients.
A foreign national buying property in Italy should be aware that they have the same rights as and Italian citizen except that a foreign national pays a higherpurchase registration tax of 11% whereas an Italian citizen only pays a 4% purchase registration tax.
Buyers looking for Italian Properties for Sale should ensure they have sufficient finance in place.
The title to the property is to be checked to be sure that it is free and clear of any and all encumbrances - the seller should make preparations to ensure buyer confidence with all paperwork
Upon the the seller and buyer agreeing to the conditions of sale the buyer will be required to place a deposit - often the normal 10% of the total purchase price ir usual but it can run higher and it is wise to check the level of commitment at the outset and the normal procedure is for deposits to be non refundable.
An Italian Notary a has a good level of responsibility when it comes to overseeing the property transaction, which should be seen as added comfort for any buyer, including carrying out title searches to work to make certain that the title to the property is free and clear of any obvious defects or liens.
The Stable Italian Economy Helps Inspire Property Investor Confidence
Italy’s economy might not be booming, but it is very stable. It is considered the eighth largest economy in the industrialised world. The country enjoys a EUR 1,854 billion GDP with a steady annual growth rate of just under 2%. Unemployment and inflation are both rather low within the country. The overall Italian economy is driven by tourism, manufacturing and agriculture. When a stable climate for investment is desired, Italy tends to appeal.
The Italian Culture and Welcoming People Make Investing in Italian Real Estate Appeal to Many
Italians are no strangers to holidaymakers and investors. From the bigger cities to quaint countryside villages, the Italian people tend to be very warm and welcoming. When holidaymakers, expats and retirees endear themselves to the people, the reception is spectacular. The fabled culture and people combine to make investing in Italy very appealing. Investors with buy-to-let or resale strategies tend to favour Italy for its welcoming atmosphere.
The art, architecture, history and beautiful geography Italy has to offer appeals strongly to holidaymakers, retirees and expats. As people continue to pour into the country for visits and long-term stays, the property market here remains very attractive to investors with a number of strategies. From its relatively unexplored southern regions to the proven and strong markets of Rome, Milan and Venice, Italy continues to appeal.
