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Here we would like to give you an overview of the costs and some information concerning the purchase of a house.If you have any questions we would be delighted to help you. Simply use our or give us a call.
| InfoLine:
| 089 89 22 33 00
| intl. +49 89 89 22 33 00
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| InfoFax:
| 089 89 22 04 22
| intl. +49 89 89 22 04 22
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| Purchase
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| Land transfer tax, Registration tax
| House, appartment about 11%, Land about 17% on the declared purchasing price.
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| Notary fee for purchase
| about 1,500 to 2,600Euro
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| Mortage
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| Mortage registration tax:
| 1 % of the mortage
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| Notary fee for mortage registration:
| about 800 Euro
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| Property period
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| Property tax per year:
| 4 to 7 thousandths of the land registry value
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| Financing
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| The Bank offers financing through the programme CASA EUROPA. The mortgage limit is a maximum of 64% of the market value. The processing time is about 2 months.
| The interest rate is 4.5% for a savings contract with a building society and 6.9% for an advanced credit till the allocation of the savings contract.
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| Estate agents fee
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| Fee for the purchaser
| depending on the region between 3 and 7%, with us it is a fixed 3%.
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The amount of property on offer on the Ligurian coast is enormous and also the number of estate agents. For someone who does not possess very good Italian they should be very wary of so-called bargains or when buying privately.
One should also be wary of one’s fellow countrymen who have lived there for a few years and think they know everything. It is better to use an estate agent. Take your time and don’t be fooled by the blue sky and holiday mood.
A good estate agent should never try to force you into a quick decision. First of all give yourself a budget and then choose properties to look at.
Never visit more than two properties on one day anything else results only in stress and leads to the wrong decision. The best time to buy is in the winter. At this time of year it is rainy and cold and faults in construction become conspicious.
The purchasing of property for private use is not bound by any restrictions and is possible for foreigners.
For members of the European Union there are no limitations on residing, and purchasing property, in Italy. Italy accepts only one domicile. If you want to become a “resident” in Italy and emigrate then you must de-register in Germany and then you will be seen as a resident of Italy.
For citizens of the European Union there are no problems with working in Italy.
Purchasing the property
Normally the purchase proceeds in two steps.
1st Step - The Advance Contract
Normally in Italy both parties agree on an advance contract (contratto preliminare) which gives you the time to complete the rest of the formalities. After this you sign a purchasing contract that is documented by the notary. The advance contract binds both parties legally to the purchase. This contract contains all the information and methods of payment that are also in the notary contract: price, location and exact condition of the property. Because of the importance of this information the content of the advance contract should be negotiated precisely and formulated very carefully. Later changes to your own benefit are extremely difficult to obtain. Normally at this stage the purchaser pays between 10% and 30% of the house price. Should the purchaser later decide for another house or not produce the required some of money on time then the seller is entitled to keep the aforementioned deposit unless it has been stated otherwise in the contract. If the seller pulls out of the purchase then the purchaser has the right to claim damages for double the amount of what was paid.
2nd Step - The Notary Title-Deed
The notary title-deed. When this contract is signed the property is then owned by the purchaser. Normally at this point the rest of the purchasing price is due. The notary has the obligation to ensure that before the contract is documented there is clarity concerning the legal situation and that the documentation of the property in the land register follows as quickly as possible.
The notary checks the legality and costs.
For a lay person it is impossible to check details concerning the property such as the mortage and personal circumstances of the seller. The purchaser should use the help of a specialist to make sure that the building conforms to the planning laws. The authorities hardly ever demolish an illegally built house but this can lead to a lot of costs and hassle. Houses built without planning permission often have defects in their construction. Anyone wishing to renovate a house or build an extension should recieve planning permission before the purchase or include it in the contract as a condition of the purchase.
Tax Number (Codice Fiscale)
For every legal transaction in Italy you need an Italian tax number (Codice fiscale). This number will be given in the title deed. You can apply for this tax number by going with an ID to the district tax office.
With this tax number you can also open a bank account in Italy.
Estate Agents Fees
The fees for the estate agent are due with the signature of the binding advance contract. The law states that buyer and seller both pay 3% of the selling price. In addition, there is about 1% for the notary and about 1% for arrangement of the mortgage.
Taxes
There are several taxes which are incured. There is 4% for a property which is your first home and up to 10% for a property which is a second home. Businessmen pay the normal level of VAT, while for those building a house it is 10%.
Inheritance
Death duties are not due in Italy when the inheritance is declared in Germany. The death duties which have been paid in Italy would then be deducted from the death duties which have to be paid in Germany. In contrast to France there is no problem in Italy with the succession.
Planning Permission
Before you agree to the purchase you should always ask to see the planning permission. If the building has been built without planning permission then it is possible for example that no permission would be given for the renovation of the illegal property. Moreover, the notary would normally refuse the documentation of the title-deed. In the worst case it could come to the demolition of the property.
If you have questions concerning properties you can use our .
You can reach us daily from 10.00 - 21.00 under the following numbers:
| InfoLine:
| 089 89 22 33 00
| intl. +49 89 89 22 33 00
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| InfoFax:
| 089 89 22 04 22
| intl. +49 89 89 22 04 22
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| InfoMail:
| please use our .
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