Purchasing a Property in Italy

 

It should be noted that the preferences of the persons who want to buy a home in Italy relate to the detached properties that also provide an outdoor space, as presented by the Bank of Italy.  

 

Below, our Italian real estate lawyers have gathered some of the highlights of the property market in this country, referring to the current prices at which properties are sold in various Italian cities and regions, the top foreign nationals interested in purchasing properties here and other relevant matters: 

 

What are the basic documents for buying a property in Italy? 

 

The right of buying land or buying a property in Italy is available for most of the categories of foreigners, which are divided based on the nationality. Italy does not impose restrictions on owning a property as a foreigner, but the manner in which one can purchase properties here can vary based on the nationality of the foreigner. 

 

For example, persons who are citizens of the European Union (EU) or of the European Economic Area (EEA) can buy a home in Italy following the same procedures addressed to Italian citizens. The same right is granted to persons who are stateless or to those who are refugees, but the possibility of purchasing a property can take place only if these categories of persons have lived in Italy for at least three years. Our property lawyer in Italy can offer more information on the process addressed to this category of possible buyers.  

 

For other categories of citizens, Italy allows the right to buy a home if there is an international treaty which agreed on a reciprocity condition between the Italian institutions and the institutions of the other country. This means that if a foreigner who is not a EU or a EEA citizen wants to buy a home in Italy, he or she will be able to do so as long as an international treaty stipulates that an Italian citizen is allowed to purchase a property in the country where the foreigner is a national. 

 

In the case in which there isn’t a reciprocity condition, then the foreigner will not be able to buy a house in Italy, as the Italian notaries are not entitled to draft and sign property contracts with persons who are from non-reciprocity countries. There are certain exemptions from this rule and you can address to our Italian real estate lawyers for in-depth information regarding this matter.  

 

 

Purchasing a house might seem a simple transaction for some, however, there are a few tips to consider before any acquisition. It is recommended to see the property before purchase and solicit information about the documents of the house. It is best to meet the seller in person and see if he/she is the real owner of the property. Then, with the help of our Italian real estate lawyers, you can decide on the purchase. Here are other interesting aspects that you should consider if you want to buy a property in Italy:

 

 

How to buy a house in Italy as a foreigner

1. Choosing a house - The first natural step is to look for a house in Italy, and here you can benefit from specialist help. There are various platforms with which you can view the properties available for sale, and a real estate agent can be of use to you.
2. Property inspection - Real estate due diligence is the process by which you can find out a lot of information about the house you have chosen. Legal problems can also be discovered, if they exist. You can thus get an idea about the respective property before purchasing it, by contacting our property lawyer in Italy.
3. Drafting the contract – An important step is the preparation of the sale-purchase contract. It must include the entire history of the respective property, the name of the owner, as well as the amount proposed for sale. In this stage, you have the chance to negotiate the price of the house in question.
4. Making a deposit - Once the amount has been determined, you proceed to pay a sum of money from the total price of the house. This guarantees that the property will pass in your name and that it will be removed from the sale on this occasion. Our lawyers can help you buy a house in Italy by managing the formalities from a legal point of view.
5. Signing the title deed - The sale-purchase contract is signed by the seller and the comparator in front of the public notary. Before signing, this document will be checked once more.
6. Registering the property - After signing the sale-purchase contract of the house in Italy, registration with the Italian Land Registry follows. This step is important, and the new owner receives a tax code to pay the relevant fees imposed.
7. Owning the house in Italy - Paying the taxes for the newly owned property is the last step in this process. Foreigners can delegate a property lawyer in Italy, with a power of attorney for such a purchase, without being obliged to travel to this country.

What you need to take into account when buying a property in Italy

• It is recommended to choose a licensed real estate agent, to ensure that you benefit from the desired services.
• In terms of documents, a property lawyer in Italy can be of use to you. He/she can do the necessary checks, including real estate due diligence. This procedure is essential before purchasing a property in Italy.
• You must consider checking the price of a property, to reflect the existing value on the market. Otherwise, you can change your mind and choose something else.
• The registration of the purchased property with the Land Registry is mandatory, and the new owners have the obligation to pay the related taxes.

 

1. Who can buy a house in Italy?

There are no restrictions for foreigners who want to buy properties in Italy. However, the Italian authorities have the power of making some verifications of criminal records and other aspects. 

 

2. What types of documents are necessary for property purchase in Italy?

Besides the ownership title of the property, the cadastral document, the energy certificate, the plan of the property, building permits and the identification documents are necessary for a sale and purchase transaction of a house. One of our Italian lawyers can offer the required support.

 

3. Is it necessary to have a pre-sale agreement before the final transaction of a property?

Yes, once the buyer agrees on the price of the property and wants to make the acquisition, a pre-sale agreement must be drafted. Also, a specific amount from the property price must be deposited in a bank account.

 

4. Is a real estate due diligence necessary before a property purchase in Italy?

Yes, most commercial real estate properties require due diligence and specific verifications that can be managed by one of our lawyers in Italy. This kind of procedure is also recommended for natural persons who want to buy a property in Italy and need to know if there are any problems.

 

5. Is the property price verified before the transaction?

Yes, it is quite recommended to verify the price of a property before purchasing it. This way the future buyer can be sure that the value of the house aligns with the prices on the market. This is another aspect that can be handled from a legal point of view by our attorneys in Italy.

 

6. Where does the property transaction takes place?

All the property documents will be presented in front of the public notary. He or she will verify the papers and accept them before the final transaction. We remind you that you can be represented from a legal point of view by our Italian lawyers.

 

7. What are the main steps for buying a property in Italy as a foreigner?

If you have a specific budget and already arranged for a property purchase, hire a lawyer for real estate due diligence, contract verifications, and representation. Once the documents are ready and the taxes paid, the property can be yours.

 

8. Can an Italian lawyer help me find the right property to buy in Italy?

You can request the legal advice of our Italian lawyers if you want to buy a property in Italy. This way you have the guarantee that the property you choose does not have legal problems or is subject to hidden issues. A complete evaluation will be offered.

 

9. What are the best cities for buying a property in Italy?

Rome, Milan, Naples, Tuscany, Cagliari, and Sicily are only a few of the cities and regions of Italy where foreigners can buy excellent properties at affordable prices. If you need legal advice for buying a property in Italy, feel free to get in touch with our experts.

 

10. How is the property registration made in Italy?

All properties must be registered with the Italian Land Registry. This means that if you purchased a house in Italy you need to register with this institution.