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Purchasing a property in Italy

Purchasing a property in Italy

Updated on Monday 18th April 2016

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The Italian real estate sector has always been attractive for international investors. Both the commercial and the residential real estate markets provide numerous investment opportunities to foreign citizens coming to Italy. The Government has also enabled programs for high net worth individuals who want to obtain Italian residency by purchasing a property in the country. However, before starting the purchase process it is best to verify the property about to buy. In order to help foreign citizens, our Italian lawyers offer real estate due diligence procedures which will secure their success.

Buying real estate in Italy

In both residential and commercial real estate purchases there are several steps to be followed. The first one is finding the suitable property and having it inspected. It is also advisable to have the Italian property evaluated in order to make sure the price is correct. Among the aspects that need to be taken into consideration when buying a property in Italy are:

  • -          making sure the property is not subject to any encumbrances or third party rights,
  • -          making sure the property is registered with the Land Register,
  • -          making sure all planning permits are in place,
  • -          making sure the property is suitable for certain activities, in the case of commercial real estate purchases.

Once the buyer has decided on a certain property, a contract will be drafted and a deposit must also be paid before the purchase is completed. If you need assistance with the sale-purchase agreement you can request the services of our law firm in Italy.

Steps to complete the purchase of an Italian property

The last steps to complete the purchase of a property in Italy are:

  • -          signing the title deed,
  • -          registering the property with the Italian Land Registry with the buyer as a new owner,
  • -          applying for a tax code.

The title deed must be signed by both seller and buyer before a public notary in Italy. Once the document is signed, the new owner will register the property with the Land Register and pay all the required fees related to the procedure. The buyer must also obtain an Italian tax code in order to be able to pay the taxes related to owning a property in this country.

If you need information about the taxation of real estate in Italy, do not hesitate to contact our attorneys.

 

Comments

  • Jackson 2015-02-10

    Hi, I'm interested in buying a house in the Liguria region of Italy. Could you tell me what documents I need to provide?

    Hello Jackson, you may send your request at office@lawyersitaly.eu and one of our lawyers will answer you as soon as possible.

  • Carla 2015-02-12

    Interesting to know how much it would costs to buy a property in Italy and all additional fees triggered by taxes.

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