HiI am intrigued and a bit confused about buying property

04/30/2020 - 14:02

I am intrigued and a bit confused about buying property in Italy. At the moment it is very much an idea in my head I’ve done nothing about it but just would like to get some advice and help really.

I currently rent in the UK I am British however at some point I do vision myself wanting to live in Italy which area I’m not sure yet I need to travel ( when able) but after reading the comments about the percentages and if I’m Italy it was a 2nd home but if I don’t own a home it would mean that I get taxed less.

Also the property prices seem cheap and some of them look lovely although needing some work I’m sure how difficult is it to find tradesmen and how reliable in the UK it can be difficult to find reliable tradesmen and it’s normally friend recommended as I don’t have anyone I know over in Italy it’s a bit more challenging but everyone on here is always so lovely and helpful.

As an idea I guess I would love somewhere near the sea but still able to get supplies and shopping fairly easily.

I would prefer not to be remote as it were. I guess I would use it for holidays firstly but even that it seems is complex I have no idea I just am reading lots of confusing things.

So if anyone who perhaps have done this or are doing this can help of course. I am learning the Italian language as I do not think it is fair to come over there and not speak the language.

anyhow I will stop writing and sign off and thank anyone in advance for any answers or help. Please forgive me if I don’t get back to you quickly I’m still working in UK ( school) so have a lot of things to sort out most of the time ) but I will check back here over the weekend I’m sure.

Grazie

Debs.

Topic

Property

Buying

Comment

You are doing the right thing reading up on it! Keep doing so…. To be taxed less when buying (on the purchase) you have to state you are going to be resident there, which leads to income tax and a very complex situation. Income tax is much higher in Italy, so you probably don’t really want to end up taxed over there on income.

Thank you! Yes I will definitely keep reading up about it all. To be honest I’ve no idea how I would make it happen and this is me planning my years ahead I’ve several things happening in the UK so it wouldn’t be likely to happen in near future. It is still something however I do want to do.

Ciao!

I can tell you that this seems to be the right moment to buy a property in Italy, even if the lockdown situation is very uncertain.

Price are actually slightly lower, and people from abroad are considering, same as you, to search for a property or, alternatively, a land where to build there house on.

Why do I know this? Because I frequently speak to foreign people who have the same doubts as yours, and to answer some of their questions I forward them this articles, which you might find interesting.

We have also interviewed a Realtor of our trust, and soon we will post an article about how the market is going in Italy during this difficult time. If you are interested, I will let you know once it will be online.

Regarding property taxes and residency, I confirm that property taxes are much lower when you move your residency to Italy. However you have 18 months time from the date of the completion to move it. Both costs for taxes when you buy and annual taxes will be lower, and if you are a first home owner some taxes such are IMU are not due.

If you have any specific query, please just write it here, and I will be pleased to answer them on a professional way, since this is my core business. I hope I can be of help!

Stay Safe!

Ok thank you for your comment. I am no position to buy at the moment or for even near future it’s literally something I’m just thinking about I have a lot of things to do in the UK first. I appreciate you taking the time to respond and it was very helpful.

kind regards

It is very straight forward buying in Italy , if you are going with an agent they will arrange everything from viewing to arranging a notary..I have bought and sold in Italy and have had no problems at all..When you decide to buy the agent will normally arrange a local notary and someone who can speak English to translate the contract,or there are notaries in the uk that can do it for you..Either way don’t worry I am more than happy to help if you need any help or tips..

Thank you.

Welcome to the forum Stan. Where did you buy and how long did it take? Oh, and are you prepared to tell us why you sold up and how the market changed ovr that time?

Hi Steve I bought an apartment in Basilicata about in 2008 the process didn’t take long at all, we had a goood agent in Italy who handled everything..The process is much like buying a house in England..When we sold it last year we had no problems either, I only sold it because our circumstances changed in England but we had good use out of it all the same..I think the market is slow in Italy as it is here and prices are not rising that quick..I think it depends on where you buy also the south is slower than the north but we found it not as commercialised and prettier..If you have any more question I’m happy to help..regards Stan.

As others have said, the buying process is straightforward and once a price is agreed there is a deposit paid and both parties cannot back out without a chunky cost, unlike the UK. Prices are good but i would advise looking beyond the headline price. We used to stay in a place in rural Southern Italy, beautiful countryside, great food, cheap, people as good as anywhere BUT a pain to get to which made short breaks impratical or expensive (always needing a hire car). We changed and settled on a place in small town with a shops, bus and train services all in walking distance and only one hour from airport. We now use it alot (current situation forcing a pause). I would also recommend a more modern place that is easy to maintain and ideally an appartment or terrace with garden but in a small building without or just a small or no condominium charge. Rustic and rural places are charming and cheap but require more maintenance and are not lock and forget.