Italy is a dream country, but if you are planning to move there or invest in local real estate, it will be useful to know how such transactions happen.
The Best Place to Buy Property in Italy
Choosing a region is the first thing to pay attention to.
You need to determine what is important to you and decide what budget you intend to spend.
For example, if you decide to buy a cottage by the sea, but still want to travel, real estate on the islands of Italy – Sardinia, Isca, Sicily - will not suit you. These are good resort regions, but they have serious restrictions in terms of movement. Real estate on the coast of Liguria, Tuscany, the Adriatic, or other coastal regions is more suitable for you. For example, you can check out property for sale in Scalea, since it is an affordable sea resort.
If you are going to rent out an object, please note that the rental market on the coast and the lakes are mainly seasonal. To conclude long-term contracts, consider large cities with universities, and offices of large companies, such as Milan, Turin, etc. They have a constant demand for rent, which does not depend on the season, as well as higher prices.
In Italy, equal rights to purchase real estate in the country for foreigners and locals are even at the legislative level. Foreign buyers do not need to request permission from the local authorities or obtain a residence permit in Italy to purchase real estate.
Owning real estate in Italy is a sufficient basis for obtaining a multiple-entry Schengen visa. You can stay in the country for up to 90 days in 6 months and travel to other Schengen states. If you want to stay in Italy longer than the visa allows, you need to get a residence permit.
You can get a permit by declaring your intention to live in Italy and proving that you have enough funds for this (the basis of "Chosen place of residence"/ residenza elettiva). When considering an application for a residence permit, the presence of real estate in the property will be considered an advantage.
Buying a Property in Italy Step-by-Step
Step 1. Prepare for the Deal
The first thing you need to start with is to get an Italian fiscal code (codice fiscale) to conduct many kinds of transactions involving local authorities such as getting medical insurance, getting hired, conducting business, signing contracts, etc.
Potential buyers usually open an account in an Italian back for subsequent payments. They transfer the necessary amount of money from an already existing account in their country. In the future, it can be used for utility payments.
Another option is to pay straight from international accounts, but there is always a risk of delay. Money must be in the seller’s account before signing the sale contract.
Step 2. Reserve the Property
Bargaining is a traditional element of the Italian real estate market. But all negotiations are conducted in writing. You can consider it as a local feature.
The buyer transfers the deposit for the property when the seller accepts the buyer’s offer. Usually, it is 5-10% of the total cost.
If one of the parties decides to sabotage the deal, they have to face serious financial consequences.
Step 3. Conclude a Contract
It is common to start with a preliminary agreement, but not necessarily. Generally, such an agreement is needed if the deal takes a long time. The final contract can be signed, if the buyer is ready to pay the whole sum at once.
The preliminary agreement must be notarized and contain the following information:
personal data of a buyer and a seller;
the price of a property, the payment procedure, and the number of deposits made;
description of a property, inventory data.
The notary begins to check the property documents provided by the seller after signing the agreement.
The seller does not have a right to backtrack the deal after signing the preliminary agreement. The transaction is considered completely irreversible. At this stage, the buyer pays the real estate agent.
The main sale contract (Contratto notarile di compravendita) is signed by the seller and the buyer and has to be notarized. But a notary has to read the contract out loud and exclude variability in the understanding of its points.
It is very important to remember that the buyer also has to pay for the notary’s service and necessary taxes beforehand. Only after covering these expenses, the contract can be signed. The property must be paid for at the same stage of the deal and confirmed with checks or pre-payment bank transfers.
Step 4. Final Settlement
Payment in Italy is made by bank checks. The buyer must give the bank check to the seller on the same day when the contract is signed.
Another common type of transaction is a payment straight to the seller’s account or a notary's trust account (which is even safer). The notary passes the money when every term of the sale contract is met.
The transaction must be paid in euros.
It is forbidden to pay for real estate in cash.
Step 5. Register the Property
The transaction is officially registered after signing the main sale contract. The notary transmits all information to the relevant state authorities.
Registration of ownership takes up to 3 months, depending on
the cadastral office’s municipality. But the transfer of title is given with keys at the moment of signing the main contract.
The notary issues a certificate of the transaction immediately after signing the contract.
What you can buy in Italy right now?
500 000 €
Penthouse on Lake Garda, Italy
120 sq.m321
In an ideal location near the lake, this apartment has one of the most beautiful views on the entire western coast of Lake Garda and is located just 1.5 km from the beach. On the contrary, on the other side of the lake you can see the towns of Torri del Benaco, Garda, Lazise, Peschiera, Sirmione and Desenzano del Garda.
The apartment consists...
GH Estate
760 000 €
Flat on Lake Garda, Italy
180 sq.m323
description
Between the towns of Garda and Bardolino, in a hilly area and in a unique and unusual place, close to all infrastructure, we offer for sale a comfortable duplex located on the second floor,
A private garden of over 3,000 m, belonging to this villa consisting of only two apartments. The property was completely renovated in 2008...
GH Estate
1 390 000 €
Villa on Lake Garda, Italy
300 sq.m22
Manerba del Garda,
villa with a garden of about 2800 sq.m and a magnificent view of the lake from every corner of this prestigious house.
Garda swimming pool, on a plot of about 2800 sq.m. in one of the most sought-after areas of Manerba del Garda.
The property consists of: ground floor: large living/dining room, study, kitchen and portico...
GH Estate
3 000 000 €
Apartment in Capri, Italy
120 sq.m56
On the spectacular Island of Capri, in the centre of the renowned and awe-inspiring Piazzetta, there is this marvelous penthouse with sea view up for sale. This estate sprawls over roughly 150 m² and is currently being used as a luxury tourist accommodation facility. This apartment is made up of a spacious hall, a dining room, an eat-in kitchen,...
Lionard Luxury Real Estate
2 300 000 €
Farm in Rieti, Italy
600 sq.m77
This estate is just a few kilometres from Rome, on a high position with a stunning view an it is currently used as an agritourism. This three-storey villa has a total surface area of 600m2. In the main body there are 7 en-suite bedrooms, a kitchen that can serve up to 90 people, a dining room, a hobby area and some large cellars. This estate is...
Lionard Luxury Real Estate
5 800 000 €
House in Assisi, Italy
1000 sq.m34
This outstanding palace for sale is in the province of Perugia, embedded inside Assisi's historical centre and just 200 metres from the Basilica of Saint Clare. This structure of absolute exclusiveness had once been built as an ancient Roman settlement dating all the way back to 75 BC. This palace's staggering cellar encompasses more than one...
Lionard Luxury Real Estate
Price on request
Villa in Arezzo, Italy
1150 sq.m99
Immersed in the green countryside of Arezzo, in the town of Loro Ciuffenna in the province of Arezzo, this luxury property is for sale. The property consists of a main villa and an outbuilding which have a total area of 1150 m2. On the ground floor of the villa, it consists of a first living area with a large double living room, a bright kitchen...
Lionard Luxury Real Estate
400 000 €
Apartment in Montepulciano, Italy
275 sq.m1252
Charming and bright apartment of 275 sqm in the historical centre of Montepulciano (SI), with a wonderful view over the historical village, with a total of 5 bedrooms and 2 bathrooms.
In the center of the famous village of Montepulciano, for sale this bright apartment of approximately 275 sq.m., accessible both from the main street and from the...
Great Estate
Price on request
Villa in Rome, Italy
450 sq.m66
This stunning luxury villa with a big, planted park and a pool is for sale in Rome's exclusive Olgiata residential area. Located a few kilometers from the city center, the enchanting complex that houses this estate is equipped with 24-hour surveillance and is particularly renowned for hosting a Golf Club, a Country Club and a horse-riding...
Lionard Luxury Real Estate
330 000 €
Apartment in Bevagna, Italy
381 sq.m821
The apartment is accessible by entering through the wooden door on the ground floor. You enter a hallway with eighteenth-century stone stairs, to get to the landing on the first floor. Currently the conformation of the apartment includes 2 large double bedrooms, a dining room, a study with a small terrace, two lounges and a small room, as well...
Great Estate
680 000 €
House in Collazzone, Italy
241 sq.m1033
Casale Santa Barbara is a splendid countryhouse set in a highly panoramic position in the rolling hills of central Umbria, halfway between Perugia and Todi.
The countryhouse is set on 3 levels for a covered surface area of approximately 250 square metres, plus porticoes and terraces; the dimensions are therefore ideal for a family, easily...
Great Estate
Price on request
Apartment in Rome, Italy
460 sq.m89
In one of the most renowned streets of Rome's city centre, just a short walk from the Spanish Steps and Piazza del Popolo, there is this luxurious estate for sale. Finely recently renovated with great attention to detail, this spacious apartment welcomes a Luxury Boutique Hotel, the ideal starting point to visit the main historical monuments of...
Lionard Luxury Real Estate
Price on request
Villa in Bonassola, Italy
400 sq.m44
In the Cinque Terre area, there is this 19th-century farmhouse for sale in a nice panoramic position by the sea, perfect for those who want to spend a holiday immersed in nature, ideal for hiking enthusiasts and for those who want to relax in absolute peace, between the big panoramic terrace and the garden. Preserved in perfect condition with...
Lionard Luxury Real Estate
3 900 000 €
House in Montepulciano, Italy
650 sq.m88
This fantastic luxury agritourism resort with a pool is for sale a few km from Montepulciano, surrounded by Tuscany's leafy countryside and its typical olive trees. Its 3-hectare private park houses a wonderful swimming pool with a sunbathing area. The property is made up of three residential bodies for a total of 650 sqm. The main villa has two...
Lionard Luxury Real Estate
269 000 €
House in Giove, Italy
141 sq.m1243
Beautiful villa in the open countryside with panoramic views, built in 1975 with olive grove, vineyard, orchard between Giove and Attigliano, less than an hour from Rome. Possibility to build a swimming pool. The two-story villa of approximately 100 sqm, with on the ground floor, entrance hall, three bedrooms and two bathrooms, on the first...
Great Estate
59 000 €
Apartment in Scalea, Italy
84 sq.m532
Online ViewingRemote Transaction
Scalea, Via Po': In a residential tourist complex, a comfortable apartment of 84 m2 is offered for sale, on the fourth floor, consisting of: a large living room with a kitchen, a balcony of 6.68 m2 with sea views, a double bedroom, a bathroom, an entrance hall, a double bedroom and a balcony of 3.93 m2, a second bathroom and a double bedroom and...
L'ARCO IMMOBILIARE
1 290 000 €
House in Italy
702 sq.m18106
In the beautiful and lush countryside of Bucine, located in a panoramic area in a small and charming village overlooking the valley, stands this beautiful farm consisting of 3 stone farmhouses typical of the area. The main farmhouse is on 3 levels. On the first level we have the cellars for winemaking and a part currently used as a warehouse, on...
Great Estate
49 000 €
Flat in Scalea, Italy
60 sq.m421
Online ViewingRemote Transaction
A view apartment for sale in the city of Scalea. The apartment is located on the second central street of Fiume lao, in one of the best condominiums of Scalea - Parco Silvestri, 5th floor. The territory of the condominium is closed to unauthorized persons, entry is allowed only to owners - there are always Parking spaces and you can not worry...
Scalea Realty
930 000 €
House in San Remo, Italy
190 sq.m
Residence
Italy
OOO "Sanremo"
3 500 000 €
Villa in Olbia, Italy
500 sq.m1413
Exclusive modern luxury villa is in the heart of Sardinia with a view of the Porto Gulf. With a total area of 500 square meters and plot 5400 square meters, the villa was carefully restored in 2023, introducing energy -efficient systems such as solar panels and recharge stations. The previously ancient Gallura Stazzo, the mansion combines...
When buying a real estate object as an individual, the law in Italy allows tax benefits:
2% (instead of 9%) of the cadastral value when buying on the secondary market,
VAT in the amount of 4% (instead of 10%) of the commercial value of the object stated in the contract when buying a new building.
There are only three conditions for using tax benefits in Italy:
the property should not belong to the luxury category;
the buyer hasn't used the tax benefits in Italy before;
the buyer must register the place of residence at the property address within 18 months from the conclusion of the purchase and sale agreement.
If you are not a citizen of a country belonging to the EU, then the first step to registering your place of residence is to obtain a residence permit in Italy.
The use of tax benefits, but failure to comply with the requirements of the law in the future entails an obligation to pay the difference in tax rates with a 30% fine.
Another striking feature of the Italian market was not formed in 2020 but has been known for several years – One-Euro Houses. At first glance, they are very attractive: you can buy a whole house for the price of a cup of coffee. However, there is always a catch: dilapidated houses are offered in almost abandoned villages on the outskirts of the country, far from tourist routes, and the buyer is obliged to restore the object in a limited time. It is unrealistic to get investment income from such real estate, and not always pleasant to live by yourself. Even the pandemic with its trend of secluded housing does not change the situation everywhere: good transport accessibility and fast Internet are needed in such places.
FAQs
Is it wise to buy property in Italy?
The answer depends on your goals, your budget, and the regions of Italy that you like.
Is it safe to buy property in Italy?
Buying real estate in Italy is a safe investment.
How long can you stay in Italy if you own property?
Up to 3 months if you have a visa, and up to 5 years with a residence permit.
Is it hard to sell a house in Italy?
The process is complexed. But you can do it with the help of professionals.
