I love to describe Italy as a living postcard. There are historical landmarks, breathtaking scenery, and architectural feats at almost every turn. So it doesn’t surprise me that many Brits have brought property in Italy. In fact, I even predict that this trend will only grow stronger in the advent of low-cost airfares and cheap houses for sale.
If you’re dreaming to live “la dolce vita”, better read the following tips right now:
Who can buy property in Italy?
Brits encounter little to no problem when buying property in Italy, because visas and working permits are not required from British buyers.
However, those who have declared themselves as residents in one area have a leg up compared to others with no such status, since residents can enjoy lower tax rates on their purchase. Aside from that, residents also enjoy reduced charges on their bank accounts including vehicle registration and insurance in Italy.
Where can you find Italian properties for sale?
If you don’t have the time or a big budget to fly abroad and scout for Italian properties for sale- rightmoveoverseas.co.uk is a good place to start your search. This website is part of Rightmove – a trusted property search portal and it also hosts a vast catalogue of cottages, houses, villas and apartments available throughout Italy.
How much will it cost to buy a property in Italy?
Buyers shouldn’t only prepare for the purchase price. You should also save up for agency fees, notary fees, registration tax, and other costs like surveyor, architect, or solicitor fees; installation or connection costs of water, electricity, or gas; currency conversion costs; and moving costs.
Do you need to seek the help of an Italian solicitor before you can buy properties in Italy?
Locals normally don’t seek the help of a lawyer when buying or selling property. Usually, the entire transaction is conducted between the estate agent and a notary public only.
The notary acts as the representative of the government and they are in charge of registering the sale, making sure that the process follows legal standards, and collecting the proper amount of taxes. An estate agent, on the other hand, takes care of the needs of both buyer and seller and ensures the success of the deal.
Even if the intervention of lawyers is not mandatory, some foreigners still choose to hire the services of Italian lawyers so someone can explain to them how the Italian laws on property work. Italian planning regulations vary for each province, hence it’s very easy to get confused with the rules if you don’t have somebody to tell you what you the dos and don’ts.
Due to varying laws, it’s also advisable to hire a lawyer who practices in the area where your prospective property is located rather than seeking the help of either UK solicitors with Italian expertise or even Anglo-Italian solicitors based elsewhere in Italy.
For further info on legalities for buying property in Italy, you may check Italy Buying Guide