A Guide to Buying Property in Italy
Italy is a beautiful country and is renowned for the wonderful history which can be found throughout the large cities of this amazing place. Italy’s climate is somewhat Mediterranean which bodes well for holiday goers and holiday home buyers.
The coastal areas of Italy are the most popular and beach homes and ocean view properties are extremely popular. Italy is known for its beautiful sunny weather and wonderful historic towns and cities. It is no surprise that Italy is one of the most visited countries in the world.
Italy has beautiful beaches, a warm climate and a blue sky for most of the year and this makes it the ideal place to live and visit all year round.
The Italian Property Buying Process
In terms of a deposit you are looking at paying about 10 – 50 percent and if you pull out it is non refundable. Property registration tax for a non resident is about 11 percent and a permanent resident will pay about 4 percent.
Fees on top of the deposit and tax are usually around 2.5 percent of the purchase price of the property, so make sure you are aware of what you will need to pay. You will be using a notary when purchasing property in Italy and the entire process is dealt with through him or her.
You will be looking at about one to six months time for processing of all the required documents in order to close the sale – of course, this depends on the circumstances of your particular purchase and is not set in stone. Surveys and searches on properties in Italy can take some time, especially if you are purchasing an older property.