Why Italy?

There are compelling reasons why you might think about buying property in Italy and it would be easy to write a list of the wonderful properties that are available in Italy, but the reality is that without the Italian people, the country would be empty. The reason for looking for property in Italy is the combination of the houses and apartments that are on sale and the chance to live among such a vibrant, enthusiastic and energetic people.
 Italy boasts great food, great atmosphere, and, most importantly, great property too. As romantic as France and as laid-back as Spain, the country really is home to la dolce vita – and long-standing owners of Italian property well know it.

The Market

 Italian property prices have risen in recent years – it’s no use denying an obvious fact – but, in comparison to other countries, Italy remains pretty good value, especially in rural areas. Of course, anyone looking for a property overlooking the Piazza San Marco in the heart of Venice had better have a pretty deep purse, but it still remains good value, especially in the more rural areas. If you are thinking of buying a property in Italy, especially in a popular tourist area or one of the cities you will need to spend more and you will find it hard to find anything that could be described as a bargain; although if you are buying as an investment property, these areas will always be in high demand.
 Rental Market has great potential especially in the summer when all coastal area is very busy.Investors need to be aware that the rental market is develping and the lucrative UK and Irish markets are virtually untouched.

Popular Locations

  Calabria 
 Always popular with Italian holidaymakers, Italy’s sun-bathed Deep South is only now being discovered by the rest of us. With mile after mile of coastline, Calabria has a glut of sandy beaches, rocky coves and spectacular headlands. As befits a country with a variety of landscapes and environments, for every sun-bleached southern beach there is a mountainous inland, and the Italians love to ski as much as they love to sunbathe. From the Dolomites and Mont Blanc in the north to Abruzzo in the south, there is always a good ski resort within easy reach wherever you are in the country.
Our properties in Calabria are in the sun-drenched dip south of Italy, at the “toe” of the “boot” on the Mediterranean Coast.
 
 Italian Lakes
The three largest lakes of Garda, Maggiore and Como attract the most attention. Lake Maggiore is the second-largest lake after Lake Garda, and its extreme northern end lies within Switzerland. The whole region is a very popular tourist destination and as a place for buying property too.

 Tuscany
 Probably Italy's best known region, but also one of the most expensive. High demand from hungry British property seekers in this part of Italy seduced by the easy accessibility and stunning Tuscan scenery has pushed prices up. Charmed by picturesque small villages and quaint restaurants dotted throughout the area, the Tuscan market tends to attract business people or those on a good income who are looking to buy for investment or future retirement.

  Puglia
Right down on the south of Italy, Puglia is a great alternative to the current trends, with fantastic beaches and a great climate.

Buying a property

 There’s a lot of Italy to explore, and it’s well worth taking some time over it. The trick is to be sure of three things:
1) What sort of area should the property be located in? (Mountains, sea, country, in a town, in a village)
2) What is the property for? (Holidays, letting, retirement, skiing)
3) Does the available budget cover all the costs?
The first written step in the purchase process is the proposal of purchase (compromesso, or proposta d’acquisto), by which the buyer binds himself for a stipulated period (normally from five to 30 days) to buy the property at a named price. During this time, the vendor and his agent are free to consider other offers.
 When the offer is accepted, the buyer pays a deposit (usually 10 per cent), and the preliminary contract of sale (compromesso di vendita) is drawn up by a notary (notaio), who acts for both sides.
  At completion, the title to the property passes from the vendor to the buyer by a deed of sale (il rogito). There are two types of deed. One is a public document and the other a private contract. The former provides greater protection and is slightly more expensive. If a property bought by private deed is subsequently found to have a charge against it (such as a mortgage), the notary cannot be held responsible, whereas if a public instrument has been used, legal action can be taken against him.
 Following completion, the notary issues a certified copy of the deed of sale and registers the original document with the Land Registry.

Prices &Costs

Two bedroom apartments sell for about €112,000 (£76,000) and four bedroom villas for €200,000(£136,000).
The total fees for buying a property are approximately 13 per cent of the purchase price. Among the costs are:
• Registration fee
• Land Registry fees/stamp duty
• Notary fees (generally about 4 per cent of the declared price)
• Legal fees (for independent legal advice)
• Mortgage fee (if applicable)
• IVA (Italy’s equivalent of VAT), if buying from a company
• State tax, if buying from a private individual
 Mortgages are available at 70%-80% of the purchase price at the rate of 4% variable.

Getting There
Four-day inspection trips are available for about €299.
Flying time is about two hours from the UK to Italy. No-frills airline Ryanair has begun flying to several regional airports in recent years, including those in Puglia and Calabria. Italian airports include Milan for the city and lakes, Pisa for Florence/Tuscany, Rome for Rome/Lazio and Lamezia-Terme for Calabria.

This web site provides general advice for guidance purposes only. It is recommended to seek professional advice before making any purchase. Contact us for additional information or services.