Have you considered buying property in Italy, but are intimidated by the lack of knowledge about the procedures, rules, and expenses that await you? The internet is full of conflicting information - from scary stories about long and painful struggles on the way to your dream, to bold tales of how everything can be easily and simply done on your own.
The Buyer's Guide will guide you through every stage of buying property in Italy, explaining the role of the realtor, notary, necessary documents, the notarial deed, procedures, nuances, taxes, and fees.
The Buyer's Guide is based on knowledge of laws, rules, over a decade of experience in the real estate industry, and numerous successful deals concluded with our clients from around the world, rather than random people's stories and unverified internet resources.
After studying the articles in this section, you will have complete information on how to become a homeowner in Italy. However, it is important to remember that each property purchase in Italy is unique - each house has its own story, each buyer and seller is unique. Considering these facts, it is obvious that each deal will have its own nuances and differ from all others.
The Buyer's Guide will guide you through every stage of buying property in Italy, explaining the role of the realtor, notary, necessary documents, the notarial deed, procedures, nuances, taxes, and fees.
The Buyer's Guide is based on knowledge of laws, rules, over a decade of experience in the real estate industry, and numerous successful deals concluded with our clients from around the world, rather than random people's stories and unverified internet resources.
After studying the articles in this section, you will have complete information on how to become a homeowner in Italy. However, it is important to remember that each property purchase in Italy is unique - each house has its own story, each buyer and seller is unique. Considering these facts, it is obvious that each deal will have its own nuances and differ from all others.
Buyer's guide
Residence permits cannot be obtained automatically upon the purchase of property. In addition to ownership, other grounds are required. The simplest, in terms of obtaining a residence permit, are: education, starting a commercial activity (establishing a company / representation), or proving a sufficiently high income and having funds in an Italian bank account to apply for "chosen place of residence" status.
Anyone who wishes can buy. To make a purchase, you will need a passport and an Italian tax code – "codice fiscale."
The codice fiscale is a tax identification code, equivalent to TIN (Taxpayer Identification Number). You can obtain it in Italy at any office of the tax authority Agenzia Delle Entrate. Alternatively, you can also obtain the fiscal code in your country of residence by contacting the social department of the Consulate where you are registered.
Some people make decisions quickly, while others need time to ponder, but there are recommendations that apply to everyone: it's better to allocate at least one week for the trip and plan it in such a way that you have at least 2-3 working days available during your stay. This will help you avoid stress and rush.
After the properties have been selected for viewing and the trip is planned with dates coordinated by the agency, you independently arrive at the agreed location, where our representative will meet you on the scheduled day. In most cases, we can offer you Russian-speaking assistance. The realtor will guide you through the properties, assist in negotiations with the owners, and in the event of a decision to purchase, help with obtaining the tax code and opening a bank account. All these services are free for you. If you travel in our car, you only need to pay separately for gasoline (for trips over 60 km) and toll roads.
A bank account is necessary if you plan to make payments to the sellers during the transaction. In addition to payments during the purchase, the account will be used for paying utility bills in the future. However, if for various reasons you do not plan to open an account in Italy, you can use the option of depositing funds into the notary's account, who will conduct the transaction. In this case, all necessary funds must be deposited BEFORE the date of signing the contract.
N.B. This is a paid service. The cost is determined by the notary - around €200 - €500.
N.B. This is a paid service. The cost is determined by the notary - around €200 - €500.
Utility rates vary by region in Italy and depend on many factors such as the supplier, energy efficiency class, property size, number of occupants, water, gas, and electricity consumption habits of the occupants, and more. It's impossible to provide an exact amount, but with reasonable usage, utility expenses typically range from €1000 to €2000 per year.
For example, in a 60 sqm apartment in a new building with one permanent resident, the breakdown for 2023 was approximately:
- Electricity: €321,48 (including television antenna fee of €216)
- Gas: €597.00
- Water: €150.00
Total for the year 2023: €1068.48
For example, in a 60 sqm apartment in a new building with one permanent resident, the breakdown for 2023 was approximately:
- Electricity: €321,48 (including television antenna fee of €216)
- Gas: €597.00
- Water: €150.00
Total for the year 2023: €1068.48
The annual property tax is calculated based on the cadastral value of the property. It's usually paid in two equal installments: the first one before June 16th, and the second one before December 16th. It's possible to pay the entire amount in June, but in December, it's necessary to check if the tax rate (aliquota) has changed. The local authorities of the municipality where the property is located approve it twice a year.
To give you an idea of the approximate amounts of the annual tax:
Apartments and economy-class houses: €300.00 – €500.00
Apartments and houses of higher classes: €500.00 – €1000.00
Villas: from €1000.00 and above.
To give you an idea of the approximate amounts of the annual tax:
Apartments and economy-class houses: €300.00 – €500.00
Apartments and houses of higher classes: €500.00 – €1000.00
Villas: from €1000.00 and above.
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