FAQs

If you want to buy property in Italy, you need to appoint a notary. You cannot buy a property in Italy without one.

Employed by the Italian government, a notary is a qualified lawyer who conducts the legal transfer from the seller to the buyer.

The buyer decides which notary to use as they are the party who pays the purchase taxes and notary fees.

The notary has a range of responsibilities – including:

• Ensuring the property conforms to planning laws
• Checking for property charges
• Dealing with title issues
• Preparing the deed of sale

In most cases, a notary will charge between 1 and 2% for their services. For a lower priced property, it will be more due to some fixed taxes which are payable.

If you need help finding a notary you can trust, we’ll be happy to recommend some experienced practitioners.

In order for a notary to draw up a preliminary contract (Compromesso), you must pay a fixed registration fee of €168, plus 2 bolli or stamps at a cost of €14,62 each, along with a 0.5% fee of the deposit.

Once the Compromesso is complete, stating the full sale price and any other conditions which need to be met, the buyer usually pays a 30% deposit to the seller, based on the total sale price.

The buyer and seller both pay the Italian agent a 3% fee, based on the sale price, plus VAT at a rate of 22%.

The amount of tax you pay depends on whether you’re buying as a resident or non-resident. It is also influenced by who you are buying from, such as a company or private individual. However, there are minimum tax rates to pay, depending on the market value of the property.

When buying from a private individual, you pay taxes based on what is known as the ‘cadastral’ value. This is a nominal value which has nothing to do with its current market value.

Each property has a designated ‘cadastral’ value which depends on its location, size and its original standard of construction.

When buying as a non-resident, you are obliged to pay a 9% tax on its cadastral value.

If you intend to move in and buy as a resident, you’ll only pay a 2% tax on its cadastral value – as long as you don’t own another Italian property.

Beautiful landscapes, art, architecture, history, food and wine.

Italy is well known for its relaxing Mediterranean lifestyle.

Buy a home in Tuscany and you could bask in another 500 hours of sunshine every year, compared to the UK average of 1,500 hours.

You’ll also enjoy the pleasure of strolling through cobbled streets and walking in the footsteps of Michelangelo and Botticelli.

With historically low prices and lots of cheap property in idyllic countryside locations, it’s no wonder people are looking to live in Italy.

Whether you love modern apartments or converted country barns with olive groves, there’s something to suit every taste and budget.

Stay away from the tourist areas and Italy is a very affordable country to live in.

Due to the vast amount of locally-grown produce, food is around 15 per cent cheaper. Eating out is also about 40 per cent less than the UK average.

If you want to enjoy a healthy lifestyle for less, shop at local markets and haggle for great deals.

Yes, it is possible to complete a sale with a mortgage. If you want to buy in this way, we would advise speaking to an independent financial advisor or an Italian lender.

If you have a property in the UK, you might be able to use it to release funds for a mortgage. Consult with your lawyer to make sure the mortgage takes into account consumer protection legislation.

The contract of sale and mortgage signing usually happen at the same time, in the presence of a staff member from the lender, when signing the deeds in the notary’s office. This is to ensure the right amount of money is forwarded on to the seller.

When buying a property from a company as a non-resident, you will be obliged to pay a 10% VAT tax rate against the property’s full market value.

If you intend to become a resident and are buying from a company, you’ll owe a tax rate of 4% VAT on the current market value.

If your dream property comes with a substantial amount of land, rather than just a garden, you will be obliged to pay a 15% tax rate on the value attributed to the land. Typically, this will be low but the notary will tell you how much before any contracts are signed.

Imposta municipale unica (IMU) tax applies to anyone who lives in Italy and owns a property. The basic rate of IMU tax, formerly known as ICI, ranges from 0.4% to 0.76%. In some case, it can be as high as 1.06%.

You will not be sent a bill for this and must settle what you owe at the post office, twice a year. You can calculate the amount yourself, but it most people use a local accountant or property manager to do it for them.

In some areas, you will also have to pay an additional refuse tax (TARI) and mountain community tax.

It’s a bit of a myth that you must have an Italian bank account to buy a property in Italy. You don’t. But it definitely does make things a bit easier!

When buying the property, money can be sent by bank transfer – from any account in any country. It doesn’t have to be from an Italian provider.

But without an Italian bank account, you may find it difficult to pay for basic utilities (water, electricity & gas) as some companies will not arrange direct debits for non-residents. Some notaries also insist that payments are made from an Italian account.

As with most property transactions, it depends on the individual circumstances surrounding the agreement between the buyer and seller.

If the property is empty and the buyer is ready (with their Codice Fiscale and finances in place), it can take as little as six to eight weeks.

The preparation of paperwork, obtaining a survey (if required) and resolving planning issues can delay the process, so occasionally it may take a little longer.

Stretching just under 23,000 km² from rural areas to the coast, Tuscany is a large and diverse region with properties of every kind.

Prices vary massively. Usually this depends on the property’s location, its condition, available land and its closeness to amenities.

If you’re working to a lower budget, rural areas tend to deliver the best value for money. As a general rule, the more isolated and further away from a main city or town, the cheaper it will be.

Expect to pay more for property in more popular the area, such as cities and the coast.

This is completely up to you. But it might be wise to get a survey done so you know exactly what you’re buying.

This is always a sensible move if you’re buying a property that needs renovating.

If you want to factor repairs into your overall budget, it’s a good idea to get quotes for labour and materials.

If possible, chat to the neighbours and ask them what the local area is like – it might influence how much you’re prepared to offer for the property.

We would strongly recommend appointing a geometra to represent you when buying a property in Italy. We can recommend one or you can choose your own.

A geometra is a bit like a cross between a surveyor and a project manager. It is their role to prepare all the paperwork for property sales, proposed improvements or planning applications. There is no similar role in the UK.

The vendor will appoint a geometra to ensure all paperwork is up to date and correct for the sale to go through.

If an Italian property has a lot of land, it MUST first be offered to the neighbouring farmers at the price you have agreed to buy. If the farmers do not want it, they must sign a legal declaration so you can prove it.

Other matters you need to check include:

• Are there any debts, mortgages or loans against the property?
• Who owns the property?
• Do they have the right to sell it?
• Does anyone else have an interest in the property?
• Does anyone have rights over it?
• Can neighbours access it? Do they have a right of way across it?
• Does any recent renovation work comply with building permission?

If you want to enjoy a property in Italy that can also earn you an income, it is possible to find Italian investment properties that will fit the bill.

As you would expect, the main holiday rental season runs for around 20 weeks from May to September. There are a number of websites which will market your property, recommending a suitable rate to ensure you achieve maximum revenue.

If you can find suitable clients, you can also rent outside of this period. For assist with any aspect of rental or property management, just ask and we’ll be happy to explain. We have more than 30 years’ experience of buying and selling investment properties in the UK and Italy.