After the purchase of a property in Italy
, the person who has bought the property must register it with the local Land Registry
, which will testify the transfer of ownership. This legal obligation may be performed by the public notary who handled the buying/selling procedures. After a foreign person has purchased a property in Italy
, he or she should obtain a certified copy of the title deed. Another copy will be kept by the public notary. The seller will notify the local police about the sale through a form.
Before concluding the purchasing contract of a property
, the notary obtains information from the Land Registry
that is required for signing the contract. The Land Registry
will offer a certificate on the property
regarding the real owner and it will also testify if there are any other parties involved that may have rights on that property
. Information on an Italian property
can be found at the local Cadaster
that has a specific database; our team of Italian lawyers
can provide you with more information on this matter.
Registering a property with the Italian Land Register
After a property
has been registered with the Land Registry
, the legal deed is enforceable towards all third parties. Before registration, the deed is enforceable only for the parties involved. The contracts for buying/selling a property
are public after they are registered, according to the Italian law
At the Land Registry
, you can find out technical information about a property
. The properties
may be private homes, public buildings, commercial or industrial spaces; they are located in different types of zones in a city: residential areas, old town, agricultural zones
etc. The Land Registry
provides information on the value of the property
as well, which is divided into 11 classes; amongst them, the authorities refer to exclusive or civil buildings, to rural or detached properties
or to offices and studios.
Persons who need information about a property
they want to buy can ask for information on the matter from the Land Registry
. The officials from this institution are required, according to the Italian law
, to offer public information about a certain property
, and our lawyers
in Italy can offer you more details on the matter.
As mentioned earlier in this article, the public notary is the main entity that is in charge with the transfer of ownership. It is necessary to know that the buyers of Italian properties are free to select any public notary in Italy; the buyer is the only person that is entitled to address to a specific public notary.
The public notary is also the place where the deed of sale
(atto di vendita
) is drafted and signed, and the document must follow the provisions included in the preliminary sale contract
, which can be presented by our team of Italian lawyers
. Only after the document is signed, the buyer has to pay the purchase price of the property
The new buyers are also entitled to receive a copy of the deed of sale, and this document can be issued in a period of approximately one month after the transaction was completed. In the case of foreigners purchasing a property in Italy, the deed of sale must be drafted in Italian, as well as in English.
What should one know on the Italian Land Registry?
The Italian Land Registry
is maintained by the Agenzia del Territorio
, an institution which operates under the Ministry of Economy and Finance
. The institution stores and provides information on all the properties
available in this country and it can also provide information on mortgage-related matters.
Those who are interested in obtaining information from the Italian Land Registry must know that the data available here refers to all the properties in Italy, with the exception of the Province of Trento and Bolzano, which maintains its own land register; the latter can provide information that is mostly related to cadastral matters.
The Land Registry in Italy can be accessed online and in this case, the person requesting information on local properties must create an account. Please note that obtaining information from the Italian Land Registry is not free of charge. Once the person has created an account, the institution’s database can be verified based on the title deed, the estate in which the buyer is interested or by the owner of the property.
Taxation of properties in Italy
The Italian authorities
have introduced in 2016 new regulations in terms of taxation
of Italian properties
. As such, persons buying a principal residency
) will no longer be required to pay two taxes: Imposta Principale Propria
and Tassa sui Servizi Indivisibili
The regulation is applicable to persons who have Italian residency
. Individuals interested in purchasing a property in Italy
should know that the registration
with the Land Registry
also consists of paying a tax of 1% of the value of the transaction, to which the buyer is liable to. Our law firm in Italy
can also offer legal advice on the regulations available for commercial properties that can be purchased here; companies can request any information regarding the incorporation of a business, including the steps that must be concluded for EORI registration
in this country.
How can foreigners purchase properties in Italy?
The manner in which foreigners can purchase a property in Italy is determined based on their nationality. As a member of the European Union (EU), Italy allows EU citizens to freely purchase properties here. For other types of foreigners, a valid residence permit issued by the Italian authorities is required; another regulation available in this sense is the reciprocity principle.
The reciprocity principle refers to the right to purchase a property in Italy
as a foreigner who is not a EU citizen and who does not have a residence permit, as long as the respective country where the person is a citizen allows Italian citizens
to purchase properties
as well; our team of lawyers in Italy
can present more information regarding this law.
What is the value of Italian real estate properties?
The value of the Italian real estate properties
differs based on the type of property available for sale
, but also on the Italian region
where the property
is located. Thus, real estate properties
located in well-known cities in Italy
, such as Milan
, will have a higher value compared to those located in other Italian regions
. At the level of October 2019, the following data in available:
- in the region of Naples, the highest price per square meter is of EUR 5,388, in the areas of Posillipo and Marechiaro;
- the lowest price per square meter for the same region is of EUR 1,308, in the areas of Barra or Ponticelli;
- in Milan, the highest value per square meter is registered in the center of the city, where the price of a residential property is of EUR 9,434;
- the lowest price per square meter in the region of Milan can be found in areas such as Sarpi or Isola (of EUR 5,140);
- the number of properties transactions increased in 2018 in the regions of Naples (increase of 11.8%, on a year-to-year basis), Turin (3.9%), Milan (0.9%) and Palermo (1.7%).
With regards to the demand for residential real estate property, it is necessary to know that the increase was observed in the case of properties with a surface of up to 50 square meters, but also in the case of those with a surface of 85-115 square meters.
According to the data gathered by the National Institute of Statistics (ISTAT), on a year-to-year basis, measured at the level of the third quarter of 2018, the price of new houses increased by 1.41%; generally speaking, the price of a new property is higher compared to the one of older properties and in Italy, for the same period of time, the price of new houses was 24% higher compared to the ones of older properties.
If you need more information about the Land Registry in Italy
or you intend to buy a property
in this country, you may contact our Italian law firm
. Our lawyers in Italy
will offer legal assistance to foreign entrepreneurs and natural persons interested in purchasing buildings or lands here for investments or housing purposes.