Italy Real Estate: General Information
The Italian countryside is a wealth of opportunity for buyers wanting their own piece of the good life. Postcard-beautiful Tuscany and Umbria are the most desirable regions, offering centuries-old farmhouses rich with history and traditional features. Leave your property untouched or renovate to your desire - after purchase, this corner of Italy is yours to enjoy.
- A Notary (property lawyer) draws up the final contract. The fee, paid by the buyer, averages 2% but can be higher in complex cases
- Engaging a geometra (Italian property adviser and surveyor) is highly recommended; fees approximately 2%
- A letter of intent to secure the offer is usually required, with a small holding deposit
- A deposit of up to 30% may be required at the signing of the preliminary contract
- Taxes totaling 10% of the final contract price are applicable to foreign buyers unless they take up residence (when tax on non-luxury first houses is 3% + €336)
- Closing generally takes 8-12 weeks, but may be as little as four
- Financing may be available in Italy for qualifying purchasers
- Some further restoration costs usually necessary after purchase
- It is important to establish a bank account in Italy, to service regular household outgoings
This material is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. These offerings are subject to errors, omissions, changes, including price, or withdrawal without notice.