Current Listings: 545
Average List Price: 2,155,502

Currency: euro
Population: 57,680,000
Capital: Rome

Italy

Real Estate Practices in Italy

Italy Real Estate Licensing Requirements


In Italy it is the law for every Real Estate Agency to be empowered with authorization from the Chamber of Commerce, and each agent must be registered with the Chamber of Commerce, be licensed and have the moral and ethical requirements necessary for the position.


Types of Housing Available in Italy


We offer a wide range of properties to meet the needs of those who want to buy villas, hotels, cottages, farms, ancient buildings, villages, castles, apartments, wine estates, but also new constructions, Spas located in areas of known interest and health and beauty farms.


The Italian Real Estate Commission


Commission   4% + VAT for buyer

Commission   2%- 4%+ VAT for seller


Financing Options Are Available to Foreign Investors looking to buy in Italy


The banks offer mortgages for the purchase of real estate of 5, 10 or 15 years' duration. In order for a foreign buyer to obtain a mortgage from an Italian bank, the buyer should have at least 40% - 50% of the value of the property in equity, and proof of a stable income that will allow the buyer to pay for the loan installments. Each customer should be analyzed by the bank.  The local banks and international banks offer these mortgages.


Property Taxes in Italy


Properties are either classified as:


Buildings for residential use carry a total of 9% Registration Tax (Fixed charges Cadastral and Transcription varying between €200 and €50 a reduction from the total of 3%) on the updated Registry Office value (Catasto) on purchase.

Main residence or "Prima Casa" and listed buildings carry a reduced Purchase tax of 2% Cadastral and Transcription charges of €50 on the updated Registry

If, however the property is purchased from a Company these taxes will not be applied but instead there will be IVA (Vat.), currently 10% of the sale price (though there are reductions under some circumstances)

Purchase tax on agricultural land is set at a total of 12% on the value given for tax purposes in the Sale Contract.


Acquisition Costs for The Buyer Purchasing in Italy


The buyer has to pay for the purchase:  


The notary (and the fee is calculated by them according to the purchase of the property)

Agency commission 4%+VAT


Italian Disposition Costs for The Seller


On the transfer of property in Italy, the seller generally has to pay the bill of the Surveyor for their report of the property.  The seller is required to produce some certificates for the property necessary to the notary, (but the fees are generally low). While owning a property in Italy, there are annual costs for the services that the municipality where the property is situated charges. These charges are still low and vary from town to town agency commission 2% -4% + VAT.


Italian Real Estate Title Practices:  


1) You will need to get a Codice Fiscale, which is a personal code everyone needs in order to do any financial transactions in Italy.  We can help you with this and it can be done in the space of a day.


2) THE PRELIMINARE DI VENDITA OR COMPROMESSO:


Is a private, legally binding, Contract between the Vendor and the Purchaser (or representative of the Purchaser) in which the Vendor is bound and obliged to sell to the Purchaser (or his representative) who is bound and obliged to purchase the property for an agreed sum at a future date which is specified.


A 20% deposit or “Caparra” is normally required at the signing of the Compromesso.  Balance of payment is required at the signing of the Final Contract. A clause in the Compromesso will contain the final date for completion and this is legally binding. Before signing any Compromesso it is therefore imperative that the purchaser is not only certain of his choice of property but also sure that his finances are in order to meet the completion date.

The Vendor must guarantee ownership of the property and that it is free from any charges etc. He must be prepared to produce, at his expense, any documents required by the Notary for completion.

There should be a complete description of the property, listing its location, Commune (Local council), on which Sheet No. it is found and a list of the Particelle (Land Parcel nos.). These are all shown on a Cadastral (Land or Building Registry) map and can be verified in the Cadastral Office. The Register which was set up with fiscal purposes in mind holds the records of all properties with details of ownership, classification of the buildings and land and sets the "rendita catastale" (unearned income value) which, adding 5% and multiplied by 160 to take account of the latest revaluation, gives the registered taxable value of buildings, akin to rateable value of the property.

Ownership however cannot be guaranteed from these searches in the Catasto but rather in the Conservatoria dei Registri Immobiliari (Public Registry of Property Deeds), recently incorporated into the Inland Revenue offices where it can also be ascertained if there is a mortgage or any other charges on the property. Normally the Notary will conduct this search, however we also conduct searches when we market any new property. The money laundering Act requires all Estate agents to keep a very detailed record of all transactions, including all the movements of funds, their origin, and the form they took. There are extremely heavy penalties for not maintaining the records correctly. The property must be guaranteed from charges, liens etc., it must be certified that it conforms to all the building regulations with the relevant documentation to back this up.


Italian Property Closing Procedures:  


THE PUBLIC CONTRACT AND TRANSFER OF DEEDS


The period between the Compromesso and final contract is negotiated through us between seller and Purchaser, one to three months is normal and it may take up to three months to prepare all the paperwork, however it should be pointed out that sellers do like to complete within a reasonable time. Possession of the property takes place on the signing of the Contract of Purchase and Sale, unless specifically agreed otherwise by the parties. The transfer of ownership must be registered in the appropriate Registration Office within 20 days of the Contract. It is part of the Notary’s official duty to see that this is carried out so he makes the arrangements. Please do not be worried if you come away from the sale with nothing in your hands, you will be given a copy of the Contract and its registration as soon as this has been completed. This normally takes approximately one month. Italian law requires, understandably, that the participants understand what they are signing. If your Italian is not fluent it will be necessary to conduct a dual language Contract. This requires three witnesses one of whom must be bi-lingual and one of whom must act as Interpreter and write the English version beside the original Italian. Brokerages can take care of this service, if it is needed.


Arezzo

Asolo

Avetrana

Bagno A Ripoli

Baia del Pevero, Sardinia

Baia Santa Reparata, Sardinia

Baia, Sardinia

Barberino di Mugello

Baveno

Belgirate

Belgirate (Vb)

Bellagio

Bernareggio

Bibbona

Borgo San Lorenzo

Brescia

Camaiore

Campi Salentina

Cannigione, Sardinia

Capo Coda Cavallo

Capri

Capriccioli, Sardinia

Carate Urio

Casciana Terme

Castagneto Po, Turin

Castel Gandolfo

Castellaneta Marina

Castellina in Chianti

Castiglioncello

Castrignano del Capo

Cavallo Island

Ceglie Messapica

Cernobbio

Cetona Siena, Tuscany

Chianti, Tuscany

Cividale del Friuli

Como

Conca Verde

Conca Verde, Sardinia

Corella - Dicomano

Cortina D'Ampezzo

Costa Paradiso, Sardinia

Costa Smeralda

Costa Smeralda, Sardinia

Cugnana, Costa Smeralda

Deruta

Fauglia - Pisa

Fiesole

Firenze

Florence

Forte Dei Marmi

Francavilla Fontana

Gagliano del Capo

Gaiole In Chianti

Gignese

Golfo Aranci

Golfo Aranci, Sardinia

Impruneta

Isola del Giglio

Isola Santa Maria, Sardinia

Jesolo

La Filetta, Sardinia

La Maddalena, Sardinia

La Valletta

Laglio

Lari

Lastra a Signa

Latiano

Lecce

Lenno

Lesa

Lesmo

Lido di Venezia

Lido of Venice

Livorno

Lucca

Lucca - Gragnano

Manduria

Mantova

Marcialla - Barberino Val d'Elsa

Marina Di Ostuni

Marina di Pietrasanta

Martina Franca

Maruggio

Massa Marittima

Meina

Merate

Mesagne

Mezzago

Milan

Milano

Mogliano Veneto

Moltrasio

Monte Argentario

Montepulciano

Montescudaio

Montespertoli

Monticello Brianza

Montorfano

Monza

Morciano di Leuca

Nardo

Near San Gimignano / Volterra

Oria

Ortgnano - Arezzo

Ostuni

Palau, Sardinia

Parrana San Giusto

Perugia

Pienza

Pienza Siena Tuscany

Pienza Val d'Orcia Siena Tuscany

Pienza Val d'Orcia Siena, Tuscany

Pomaia

Pontassieve

Porto Cervo, Costa Smeralda

Porto Cervo, Sardinia

Porto Istana, Sardinia

Porto Pollo, Sardinia

Porto Rafael, Sardinia

Porto Rotondo, Sardinia

Porto Santo Stefano

Portobello Di Gallura

Portobello di Gallura, Sardinia

Portofino, Liguria

Prato

Punta Molara, Porto San Paolo

Quercianella Livorno

Rigoli

Roccastrada

Romazzino, Costa Smeralda

Rome

Rufina

Sabaudia

Salina

San Cataldo

San Donà

San Felice Circeo

San Fermo della Battaglia

San Gimignano, Siena Tuscany

San Miniato

San Pancrazio Salentino

San Teodoro, Sardinia

Sanremo

Santa Brigida - Pontassieve

Santa Caterina

Santa Teresa di Gallura, Sardinia

Sarteano

Saturnia

Sesto Fiorentino

Siena

SIENA CASTIGLION D'ORCIA

Siena Cetona Val d'Orcia Tuscany

Siena Crete Senesi, Tuscany

Siena Val d'Orcia Tuscany

Sorrento

Stintino, Sardinia

Stresa

Tavarnelle Val di Pesa

Terravecchia, Sardinia

Todi

Torre Suda

Treviso

Tuscany

Udine

Ugento

Venice

Verbania

Verona

Versilia

Vicenza

Volterra

Paolo del Chicca Immobiliare

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Giorgio Viganò Real Estate

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Meani Real Estate and Business

Serving 7 areas In Italy

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Atlante Properties S.r.l.

Serving 1 area In Italy

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Francesco Papurello Luxury Real Estate

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Rolling Hills snc

Serving 1 area In Italy

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FORMICOLA Servizi Immobiliari

Serving 1 area In Italy

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La Commerciale SRL

Serving 12 areas In Italy

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Carratelli Real Estate

Serving 5 areas In Italy

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Cofim-Immobiliare VR

Serving 4 areas In Italy

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Immobilsarda SRL

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Studio 18

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Marco Badalla - Property At Lake Como

Serving 51 areas In Italy

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Oikos Immobiliare

Serving 4 areas In Italy

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TAMAGNINI LUXURY ESTATE

Serving 3 areas In Italy

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