Here we would like to give you an overview of the costs as well as some information concerning the purchase of a house.If you have any questions, we would be delighted to help you. Simply use our contact form

Purchase
Land transfer tax, Registration tax	House, appartment about 11%, Land about 17% on the declared purchasing price.
Notary fee for purchase	about 1,500 to 2,600Euro
Mortage
Mortage registration tax:	1 % of the mortage
Notary fee for mortage registration:	about 800 Euro
Property period
Property tax per year:	4 to 7 thousandths of the land registry value
Financing
The Bank offers financing through the programme CASA EUROPA. The mortgage limit is a maximum of 64% of the market value. The processing time is about 2 months.	The interest rate is 4.5% for a savings contract with a building society and 6.9% for an advanced credit till the allocation of the savings contract.
Estate agents fee
Fee for the purchaser	depending on the region between 3 and 7%.

The amount of property on offer on the Ligurian coast is enormous, as is the number of estate agents. Those who do not possess very good Italian should be very wary of so-called bargains, or when buying privately.

You should also be wary of any fellow countrymen who have lived there for some years and think they know everything. It is better to use an estate agent. Take your time and don’t be fooled by the blue sky and the holiday mood.

A good estate agent should never try to force you into a quick decision. First of all give yourself a budget and then choose properties to look at.

Never visit more than two properties on one day, as anything more will only result in stress and is likely to lead to the wrong decision. The best time to buy is winter.

At that time of year it is cold and rainy and any faults in construction become conspicious.

The purchasing of property for private use is not bound by any restrictions and is possible for foreigners.

For members of the European Union there are no limitations on residing or purchasing property in Italy. Italy accepts only one domicile. If you want to become a “resident” in Italy and emigrate then you must de-register in Germany (or your home country) and then you will be seen as a resident of Italy.

Citizens of the European Union will experience no problems with working in Italy.

Purchasing the property: Normally the purchase proceeds in two steps.

1st Step - The Advance Contract

Normally in Italy both parties agree on an advance contract (contratto preliminare), which gives you the time to complete the rest of the formalities. After this you sign a purchasing contract that is documented by the notary. The advance contract binds both parties legally to the purchase and contains all the information and methods of payment that are also in the notary contract: price, location and exact condition of the property. Because of the importance of this information the content of the advance contract should be negotiated precisely and formulated very carefully. Later changes to your own terms are extremely difficult to obtain. Normally at this stage the purchaser pays between 10% and 30% of the house price. Should the purchaser later decide to purchase another house or fail to produce the required some of money on time, then the seller is entitled to keep the aforementioned deposit, unless stated otherwise in the contract. If the seller withdraws from the transaction, then the purchaser has the right to claim damages for double the amount of the sum paid.

2nd Step - The Notary Title-Deed

The notary title-deed. When this contract is signed the property is then owned by the purchaser. Normally at this point the rest of the purchasing price is due. The notary has an obligation to ensure that before the contract is documented, there is clarity concerning the legal situation and that the documentation of the property in the land register follows as quickly as possible.

The notary checks the legality and costs
For a lay person it is impossible to check details concerning the property, such as the mortgage and personal circumstances of the seller. The purchaser should avail themselves of the help of a specialist to make sure that the building conforms to the planning laws. The authorities will very rarely demolish an illegally built house, but this can lead to sunstantial costs and troublesome complications. Houses built without planning permission often have construction defects. Anyone wishing to renovate a house or to build an extension should recieve planning permission before the purchase is concluded, or include such planning permission in the contract as a condition of the purchase.

Tax Number (Codice Fiscale)
For every legal transaction in Italy you need an Italian tax number (Codice fiscale). This number will be given in the title deed. You can apply for this tax number by going with an ID to the district tax office.

With this tax number you can also open a bank account in Italy.

Estate Agents Fees
The fees for the estate agent are due with the signature of the binding advance contract. The law states that buyer and seller both pay 3% of the selling price. In addition, there is about 1% for the notary and about 1% for arrangement of the mortgage.

Taxes
There are several taxes which are incurred. There is 4% for a property which is your first home and up to 10% for a property which is a second home. Businessmen pay the normal level of VAT, while for those building a house it is 10%.

Inheritance
Death duties are not due in Italy when the inheritance is declared in Germany. The death duties which have been paid in Italy would then be deducted from the death duties which have to be paid in Germany. In contrast to France, there is no inherent difficulty in Italy with the succession.

Planning Permission
Before you agree to the purchase you should always ask to examine any documents relating to planning permission. If the building has been built without planning permission then it is possible, for example, that no permission would be given for any renovation of the illegaly built property. Moreover, the notary would normally refuse the documentation of the title-deed. In the worst conjectured case, it could result in the demolition of the property.


If you have questions concerning properties you can use our contact form.