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What Is The Cost Of Buying A House In Italy

What Is The Cost Of Buying A House In Italy

What is the typical cost of buying a house in Italy? This a question I am asked time and again. So to help you understand better the average costs for foreigners buying property in Italy. These costs are in line with the laws put into place in January 2006:

Please note: the costs given below serve only as a guide to help people interested in buying a house or hotel in Italy. These costs may vary.

Main Residence – Definition:

1. The property will become a permanent resident within 18 months of purchase
2. The house is not a luxury home and must be less than 250 m² of living space
3. You do not own another property in the same district
4. You do not already have a main home in Europe

Costs for buying a house in Italy from a private owner:

Taxes will be calculated on the basis of the value of the property in the property register, and will no longer be calculated on the declared value.

  • 3% Imposte di Registro (Registration tax)
  • 168 € Imposte Catastali (Stamp duty)
  • 168 € Imposte Ipotecarie (Local tax))
  • 1 to 1,5 % Notary’s fee – (this is a guide – a quote must be asked)
  • 3%+VAT Estate agent’s Commission
  • (4% IVA (VAT) for a purchase within 4 years of the construction)

Costs for buying from a developer or constructor:

  • 3% IVA (VAT)
  • 168 € Imposte di Registro (Registration tax)
  • 168 € Imposte Catastali (Stamp duty)
  • 168 € Imposte Ipotecarie (Local tax))
  • 1 to 1,5 % Notary’s fee
  • 3%+VAT Estate agent’s Commission

A further 20% needs to be added if you are buying from a registered Company, which is neither a builder or a constructor, but this is a very rare occurrence

A holiday (vacation) home or second home

Costs for buying a vacation home in Italy from a private owner:

Taxes will be calculated on the basis of the value of the property in the property register, and will no longer be calculated on the declared value.

  • 7% Imposte di Registro (Registration tax)
  • 1% Imposte Catastali (Stamp duty)
  • 2% Imposte Ipotecarie (Local tax)
  • 1 to 1,5 % Notary
  • 3%+VAT Estate agent’s Commission

Costs for buying from a developer or constructor:

  • 10% IVA (VAT)
  • If the property is a luxury home offering more than 250 sqm the VAT is 20%
  • 168 € Imposte di Registro (Registration tax)
  • 168 € Imposte Catastali (Stamp duty)
  • 168 € Imposte Ipotecarie (Local tax))
  • 1 to 1,5 % Notary ‘s fee
  • 3%+VAT Estate agent’s Commission

A further 20% needs to be added if you are buying from a registered Company, which is neither a builder or a constructor, but this is a very rare occurrence.

You should also include in your calculations:

Geometra’s fees, which vary depending on what work is involved in the conveyance. And in case you ask for a mortgage: 1.25% for a second home and 0.5% for the main residence

Obtaining a mortgage in Italy:

If you know you are going to need a mortgage then this is something I am happy to help you with. I work closely with the main national banks and finance agencies and have helped many foreign buyers secure a mortgage. On average you can expect to obtain a loan of up to 60% (in some cases even 80%) of the value of the property you want to buy.

I will arrange a meeting with the lender so you can obtain a free estimate for financial aid at a more convenient rate at that moment.

An advisor will contact you directly to arrange a meeting and explain to you the most convenient type of loan according to your income so that you can calculate the monthly rate you can support to buy a house with a loan.

Thanks to agreements and direct relations with banks and finance agencies, you will find the most competitive loans, suitable for you whatever your job is, or whether you are resident, non-resident or non-EU-citizen.

Hopefully, this has answered some of your questions about the cost of buying a house in Italy. However, if you have any further questions or would like my assistance in buying or selling property in Tuscany then you can contact me here.

For our full list of property for sale in Tuscany click here.

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Mary Di Lanno

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