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How to buy a house in Italy?
We created this guide on buying property in Italy to ensure that you are fully prepared to embark on this wonderful Italian adventure, well-informed and able to avoid potential pitfalls. This project attracts many foreigners, and we want you to be well-equipped to navigate smoothly through the specificities of the Italian real estate market.
Our guide provides all the essential information, from administrative procedures to cultural nuances, so that your buying experience is successful and secure. With proper preparation, you’ll be able to fully enjoy your investment and life in Italy. Welcome to this exciting adventure!
Why buy property in Italy?
People from all over the world are increasingly drawn to buying a home in Italy. The breathtaking beauty of the landscapes, the exceptional cuisine, the rich culture, and the vast heritage captivate all the senses. The Italian quality of life, with its relaxed pace and warm relationships, is truly a joy.
Additionally, the attractive prices, diverse real estate options, and strong tourist demand present incredible investment opportunities. A true love at first sight!
Can Foreigners Buy Property in Italy?
As a general rule, Italian law allows foreigners to purchase real estate. However, there may be exceptions for individuals from certain "sensitive" countries or those that do not offer reciprocal rights to Italian citizens. These cases are assessed individually to determine eligibility.
Can you buy a house in Italy as an American?
As a US citizen, you can purchase property in Italy thanks to bilateral agreements between the two countries, commonly referred to as reciprocal agreements. This means that since Italians are allowed to buy property in the US without restrictions, Italy extends the same rights to US citizens, allowing them to purchase homes with equal privileges.
However, buying property does not alter the usual visa requirements for staying in Italy. As a US citizen, you can generally stay for up to 90 days without needing a visa, which makes Italy an ideal location for a vacation home.
Can You Buy a House in Italy Without Being a Citizen?
To purchase a house in Italy, non-Italian citizens must fulfill certain conditions:
- Residence permit: If the buyer is living in Italy, they need a valid residence permit, as do their family members.
- Non-resident foreigners: If the buyer is not residing in Italy, their country must have an international agreement with Italy that allows for property purchases based on reciprocity (i.e., Italians must also be allowed to buy property in the buyer’s home country). This can be verified on the Ministry of Foreign Affairs website.
- EU/EEA citizens or stateless individuals: If the buyer is from an EU or EEA country, or has been a resident for more than three years, there are no restrictions on buying property in Italy.
- Tax identification number: Both resident and non-resident foreigners must obtain an Italian tax code (Codice Fiscale) to finalize the property transaction.
- Passport: Required for travel to view the property, though the purchase can also be made remotely with a virtual tour.
- Bank account: Necessary to transfer funds for the purchase, as well as to cover taxes and other transaction-related costs. Opening an Italian bank account is advised for ease of payment.
How to Buy a House in Italy?
Before diving into buying property in Italy, it’s crucial to organize all your ideas and carefully plan your project. First, define your budget, taking into account all potential costs, including purchasing and maintenance fees.
Choose the location based on your personal preferences, proximity to amenities, and rental demand if you plan to rent the property. Finally, make sure you understand what types of properties are available in your chosen area, whether it’s countryside houses, city apartments, or seaside villas. This thorough preparation will help you make an informed decision and avoid unpleasant surprises.
With casa.it, immobiliare.it, and idealista.it, you have all the tools you need to find your dream home in Italy! But if you encounter any difficulties, we can help with the search, contacting agencies, organizing viewings, and providing reports after your visits, ensuring you receive full linguistic support!
Having trouble finding the right property for you? Contact our advisors, who will take care of calling the agencies, scheduling appointments for viewings, and giving you a detailed report on the properties!
The real estate sector study is a PDF document that compiles a range of information to help you choose the ideal location. It compares up to two areas of interest, taking into account your available budget, personal needs, the average B&B yield in the area, the trends in real estate prices (whether they are rising or falling), and local job opportunities.
1-price negotiation
It is possible to propose a price lower than the listed one, but the final decision always belongs to the seller. It's helpful to inquire with the real estate agency to understand the seller's position and identify useful points for negotiation, such as an old listing (indicating the property hasn't sold) or unreported repairs.
2-The purchase offer
Once the offer is made to the seller, the buyer commits to purchasing the property at a defined price. The buyer will know if the offer is accepted within 15 days.
It is important to include at this stage any clauses you deem necessary, for example, subject to financing approval. It may be helpful to seek advice from a lawyer during this phase.
3-Preliminary sale agreement
Between 1 to 3 months after the offer is accepted, if the seller agrees to the proposal, the preliminary sale agreement (il compromesso or contratto preliminare) is signed.
This document commits both parties to complete the sale and defines the terms. At this stage, the buyer pays 10 to 20% of the property's value as a deposit or Caparra confirmatoria. The real estate agency may sometimes request payment of its fees at this point.
Are you facing a complex situation? Do you feel that the real estate agency is not protecting your interests and that the property you're interested in has irregularities? Ask all your questions to an Italian lawyer who speaks English!
4-due diligence
. This phase involves urban, structural, cadastral, technical, and legal verification of the property to ensure its compliance with current regulations.
5-Finalizing the sale
The sale is finalized before a notary during the rogito. If the buyer does not speak Italian, it is mandatory to have an English interpreter or someone signing by proxy.
Another option is to find a notary who speaks English. For proxy services, we currently cover certain areas of Italy with people ready to assist you during the sale.
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If you want guidance for this Italian adventure but don’t know where to start, begin HERE!
To finance the purchase of a property in Italy, you have several options depending on your situation.
Mortgage from your bank
If you already own a property, you can apply for a mortgage from your bank by using your existing property as collateral.
Mortgage in Italy
If you don’t own property in your home country, getting a mortgage in Italy is the most common option. Italian banks can grant you a loan of up to 70% of the property’s value, allowing you to become a homeowner in Italy by contributing at least 30% of the property’s value yourself.
Consumer loan
Some foreign banks allow you to opt for a consumer loan to finance your property, especially if the price is very low.
Obtaining a mortgage in Italy
Getting a mortgage in Italy is not complicated if you have a solid profile. Italian banks are used to working with foreign investors
After an initial exploratory meeting, where you will be presented with the different options and the rates available, you will need to provide all financial documents. This includes pay slips, employment contracts, bank statements, and other supporting documents.
It’s important that these documents are sworn translations to allow for a complete and accurate review of your file. With this preparation, you will increase your chances of securing a favorable loan for your real estate investment in Italy.
Tips for foreign borrowers
If you are considering buying property in Italy, it is essential to be well-prepared to maximize your chances of success. First, make several trips to Italy to visit the area you are considering, at different times of the year, to get a good understanding of the atmosphere and living conditions throughout the seasons.
Our service of connecting with banks and brokers in Italy offers significant advantages, including easing communication through a local correspondent. Contacting financial institutions directly can often be complicated and time-consuming. With our option, you benefit from a contact in Italy who speaks the language and knows the local procedures perfectly. This allows you to save valuable time and avoid misunderstandings, while increasing your chances of success in obtaining a mortgage. Let us simplify your procedures and maximize your opportunities in Italy!
In Italy, the purchase of a property is officially completed after the notary signing, which can take several hours as the entire deed is read aloud. After signing, you will need to transfer the utilities for gas, water, and electricity to your name, as well as register with the local municipality to arrange payment for the TARI, the waste disposal tax.
Costs Involved in Buying Property in Italy
When buying a house in Italy, the costs will differ depending on whether the property is being purchased as a secondary residence or as a primary residence. Secondary homes are subject to higher taxes in Italy, with registration taxes amounting to 8%, compared to 4% for primary residences. On top of this, you can expect to pay around 4% in agency fees and another 2% for notary fees. All combined, including additional costs, the total can add up to 15% to 20% over the listed price of the property. It’s important to note that agency fees are not included in the sale price, so they will be charged separately on top of the purchase price.
How Much Does It Cost to Buy a House in Italy?
Buying property in Italy is an exciting adventure, but it’s important to fully understand the costs involved. According to the June 2024 report from Idealista.it, the average property price in Italy is €2,072 per square meter. Prices vary greatly by region: the beautiful Calabria, with its picturesque landscapes, offers the lowest prices at €950 per square meter, while the stunning Liguria, with its enchanting coastline, has the highest prices at €2,673 per square meter. However, remember that the purchase price is only part of the equation.
Notary fees, agency fees, and taxes add around 15% to 20% to the listed price, especially for a holiday home. These additional expenses ensure that all legal and administrative aspects of your purchase are covered. By taking these factors into account, you can realistically plan your budget and fully enjoy the exciting experience of becoming a homeowner in Italy!
Real Estate in Italy
Living in Italy
Property taxes in Italy
Property taxes in Italy are determined based on the cadastral value of the property and the specific municipality where it is located. Generally, these taxes range from €500 to €3,000 annually, depending on factors such as the property's size, location, and usage. Each municipality sets its own tax rate, so the exact amount may vary, but this range gives a good estimate of what homeowners can expect to pay in property taxes in Italy. Local taxes like the TARI (waste disposal tax) and the canone RAI (TV license fee) remain reasonable. This lighter taxation makes Italy an attractive destination for real estate purchases, offering not only an exceptional living environment but also more affordable ownership costs.
What documents are needed to buy a house in Italy?
To buy a house in Italy, you need to prepare several essential documents. First, an identification document with your updated address is required. You will also need to provide your tax code (codice fiscale), a necessary document for all transactions in Italy.
If you are married, a marriage certificate or other documentation proving your marital status will be required.
For non-EU foreigners, a residence permit is also required
Although it is not mandatory, it is highly recommended to open an Italian bank account to facilitate transactions and manage your real estate purchase.
Having a remote assistant who can contact banks, inquire whether they open accounts for non-residents, schedule appointments, and provide language support during the meeting is invaluable during this important step!
Our administrative partner will assist you in obtaining your Italian tax code by filling out the necessary form, following up with the relevant authorities if needed, and ensuring the application process proceeds smoothly.
Real Estate in Italy
Support and Resources
Best Places to Buy a House in Italy
Depending on your preferences (whether it’s easy accessibility, price, or the type of location like the sea, mountains, countryside, or lake) there’s a perfect spot in Italy for everyone. We will explore the different regions of Italy to help you find the ideal location that meets your needs and lifestyle
Northern Italy
There are several regions in Northern Italy that are attractive for investment. Lombardy, with Milan as its economic hub and a global fashion capital, is particularly notable. The Lake District offers great opportunities, with charming towns like Como, highly appreciated by foreigners worldwide. Venice and Verona stand out as two of the most romantic cities in Northern Italy, providing incredible experiences. Liguria, a popular tourist region, boasts stunning views of colorful fishing villages and is a favorite weekend getaway for Milanese and French visitors alike. The Cinque Terre also presents a truly unique setting.
Central Italy
Central Italy offers some of the most captivating opportunities for property investment. Tuscany is a favorite among both foreigners and Italians, who dream of combining thermal baths, nature, medieval villages, exquisite food, world-renowned wines, and undeniable charm. The region embodies the essence of Italian beauty and lifestyle. Lazio, home to Rome, Italy's capital, is a vibrant and historical destination, full of life and endless things to do. For those seeking a less touristy location near the sea, Marche, with its beautiful Riviera del Conero, is an ideal choice, offering tranquility and stunning coastal views.
Southern Italy
The South of Italy is often seen as the most authentic and characteristic part of the country, offering unique experiences that capture the heart of Italian culture. In Campania, places like Naples and the Amalfi Coast allow you to breathe in the essence of Italy, with postcard-perfect landscapes, vibrant street food, and the warmth of southern hospitality. Puglia, famous for its cuisine, iconic "trulli" houses, and whitewashed buildings, is a true gem. Sicily, known for its rich cuisine, historical sites, and deep cultural heritage, offers a captivating journey through time. Sardinia, an underrated yet breathtaking land, continues to grow in popularity, boasting unparalleled beauty and a paradise-like setting that is truly worth discovering.
Coastal Areas
In Italy, there are a variety of seaside destinations that offer great opportunities for property purchases. Some areas are more touristy, while others are more secluded, offering a range of options to suit different preferences. You'll find sandy beaches, including fine white sands, as well as pebbled shores, catering to all tastes and budgets. Whether you're looking for a lively beach town or a quiet coastal retreat, Italy has a wide range of coastal locations that can match your dream of owning a property by the sea.
Are you facing a complex situation? Do you feel that the real estate agency is not protecting your interests and that the property you're interested in has irregularities? Ask all your questions to an Italian lawyer who speaks English!
Pierre's history
Pierre is one of our French clients living in Switzerland, whom we had the pleasure of meeting from the very beginning of his search for the perfect vacation home on Lake Como. This place held a special meaning for him and his wife, as they dreamed of spending their weekends and holidays there, enjoying the proximity and beauty of the location. Their journey began by attending one of our webinars on property buying, and they quickly found their dream home on their own. For their first meeting with the bank, they requested our linguistic support, which helped them overcome language barriers and better understand the process. Once all the necessary information was gathered, Pierre consulted with our accountant to assess the profitability of the project and later contacted our partner lawyer to protect their interests and secure the sale remotely. A few months ago, Pierre and his wife finally signed the papers and received the keys to their lakeside home. Today, we are delighted to assist them in their renovation journey and to see their dream come to life.
News
Houses to Buy in Italy
Depending on the region, Italy offers a wide variety of property types to choose from. You can find luxury villas by the sea or lakes, charming apartments in historic city centers, and country homes nestled in the rolling hills of Tuscany. For those seeking a more modern lifestyle, there are also apartments in residential complexes with pools and other amenities. With so many options available, buyers are truly spoiled for choice when it comes to finding the perfect property in Italy, no matter their lifestyle or preferences
Buy Apartment in Italy
Italy offers a wealth of cities that are highly attractive for real estate investment, each blending charm, history, culture, and countless activities. Milan, for example, stands out as a vibrant economic hub with modern flair, while Rome, the capital, boasts ancient ruins and timeless beauty. Florence, the cradle of the Renaissance, mesmerizes with its art and architecture, and Venice captivates with its canals and unique atmosphere. These cities, rich in heritage and lifestyle, are often in high demand, making them popular choices for those seeking to invest in Italy’s thriving real estate market.
Reviews from our customers
Thank you, Jessica, for your help with our property purchase project in Apulia. We thank Jessica for her availability, enthusiasm, and professionalism. Thanks to her, her advice, and the contacts she provided, our project to buy a second home is progressing well. Thank you again.
Beouche Family
Jessica brilliantly led a webinar on real estate purchases in Italy. She provided a comprehensive and detailed overview for those looking to acquire a primary or secondary residence. Her guide covered essential documents to prepare, common mistakes to avoid, and key steps for a successful purchase. I highly recommend her to any real estate investor in Italy!
Pierre
We are a couple from Brittany eager to discover this country that we don't yet know, and so we are just at the beginning of the adventure. We were lucky enough to discover the allerenItalie website. Thank you, Jessica, for the information and advice that will be invaluable in helping us carry out our purchase project. You are helping us understand the process and reassuring us about the next steps. Thank you for your good mood, enthusiasm, and smile. We will have the opportunity to speak again. I highly recommend her+++ See you soon!
Isabelle and Alain
Can I buy a house in Italy as a non-resident?
Yes, it is possible to buy a house in Italy without being a resident, but you need to ensure that your country has signed a reciprocity agreement with Italy, allowing you to purchase property.
What are the additional costs when buying property in Italy?
Property tax is only due on secondary residences, and local taxes like the TARI (waste disposal tax) and the canone RAI (TV license fee) remain reasonable. This lighter taxation makes Italy an attractive destination for real estate purchases, offering not only an exceptional living environment but also more affordable ownership costs.
How long does the buying process take?
The process of buying a house in Italy typically takes around 3 to 6 months, depending on the complexity of the case and whether you need to apply for a mortgage.
What are the best places to buy property in Italy?
The most sought-after regions in Italy include Liguria, Lombardy, Veneto, Sicily, Tuscany, and Apulia, but depending on what you're looking for (sea, mountains, lakes, or city), there will be an ideal spot for you. There is truly something for everyone.