A Guide to Buying a Property in Italy - bungee run for sale
Over the past 15 years, more and more foreigners have begun to buy real estate in Italy.With European integration into the EU, the number of foreign nationals buying real estate in Italy has increased.With the arrival of the EU, more and more foreigners are starting to buy different types of real estate in Italy.
This includes the purchase of commercial, residential and speculative investments by foreign nationals.The vast majority of foreigners who buy and own real estate in Italy come from one or another country in the EU.Nevertheless, over the past five to ten years, British investors have been particularly active in buying and investing in Italian real estate.
Like other EU member states, since the establishment of the EU, Italy has increased the number of foreign nationals buying real estate in the country.The common market formed with the development of the EU is considered to be the main reason why the real estate sales in EU countries are so active.The large flow of real estate in Italy involves buying and selling real estate for investment purposes.
In terms of investing in real estate, a large number of activities involve two main types of property: commercial or industrial property and a varietyFamily property for residential and holiday purposes.In addition to the higher purchase registration tax that will be discussed later, there is no real limit for foreign nationals to purchase real estate in Italy.In Italy, the same is true for investing in real estate and other types of real estate.
Residential property-In terms of residential properties, the biggest sales boom took place outside some of Rome's major cities.Many foreign nationals participated in this crazy purchase.In fact, people from the European Union in particular are actively buying houses and villas in rural Italy as a second home.
These people insist that they are attracted by a relaxed and enjoyable lifestyle in rural Italy.(In this environment maintained by many real estate experts in Italy in recent years, some films have further stimulated the sale of rural houses in Italy.Residential property-When looking for private homes in larger cities in Italy, apartments are still one of the most popular residential types sold and sold in the 21 st century.
Take Rome as an example.
Apartments are still one of the most common forms of real estate in the Italian capital.(Of course, Rome's limited living space is combined with the growing population to make apartments a valuable residential asset for the city.Over the past decade, many foreigners have invested in apartments in major cities in Rome for two main reasons.
First of all, these apartments allow these foreigners to live in one or another major city in Rome for their own purposes, usually more affordable.Second, many people from other countries are buying these apartments in big cities in Italy and renting them to others.Generally speaking, these investors who buy apartments in Italy will rent them to people who are on a long-term business trip in Italy.
On the other hand, they rent these apartments to individuals and families who choose to spend their holidays in one of Italy's major cities.Holiday property is still a popular property in Italy.Demand for real estate in major vacation communities in Italy has led to a sharp rise in the cost of real estate in these communities.
Nevertheless, many healed foreign nationals continue to try to buy well-located real estate in the Italian resort community.Another area where real estate sales are growing faster during the holidays is some rural areas in Italy.As mentioned earlier, many foreigners are buying real estate and elegant houses for their second home in rural Italy.
Similarly, many foreigners buy real estate in more remote and rural areas of Italy for family or other types of vacations and vacations.In addition to using these properties for personal vacations or vacations, many of these foreigners rent these properties to other foreign nationals at these times of the year, and these owners themselves do not possess them.As a result, many of these foreigners have been able to make their holiday properties pay for themselves.
In fact, some foreigners even buy more than one home in different parts of Italy.These people will use one or the other of these residences at different times of the year and rent them out to others for the rest of the time.These people find this investment profitable.
Specific steps to purchase a property in Italy.The real estate sales and procurement process in Italy is rather streamlined and not particularly complex.To a large extent, with one exception, foreign nationals stand in the same position as Italian citizens.
When purchasing real estate in Italy, foreign nationals must pay a 11% purchase registration tax upon completion of the sale.Italian citizens pay only 4% of the purchase registration tax.In Italy, the first step in buying real estate is a preliminary agreement between the two sides.
Once the initial agreement has been signed and executed, some of the main tasks must be completed by the parties.For example, the buyer must obtain appropriate and sufficient financing.The seller must endeavor to ensure that the ownership of the property is free and there is no and all burden of the property so that it can be communicated to the buyer.
When this initial agreement is signed, the seller will post a deposit on at least 10% of the total purchase price of the property sold.In Italy, it is not uncommon to deposit up to 50% of the total purchase price of the property.Deposits in Italy are often higher than in many other countries in the world.
In general, the deposit is non-refundable if the buyer simply decides that he or she does not want to purchase the property.In fact, the only real situation where the buyer can get a refund for the deposit is--Even a huge deposit of up to 50% of the purchase price ---Is it when the buyer withdraws from the transaction, or if it is not possible to obtain a clear ownership of the real estate within the time specified in the preliminary agreement between the parties.The real estate purchase process is supervised by a notary in Italy.
Notaries actually have more responsibility than notaries involved in real estate transactions in other countries of the world.For example, a notary in Italy is responsible for conducting a title search to ensure that ownership of the property is free and there are no obvious defects or liens.Many real estate experts in Italy advise buyers to take the time to hire so-called geometry.
The geometry RA will investigate the physical boundaries of the property for sale to ensure that it is actually consistent with what is listed in the legal description bound by the contract for sale.(These experts believe this is particularly important in terms of old properties in Italy.In Italy, it may take six months for the real estate purchase process to be completed.
Therefore, unlike many other countries in the world, it is common for buyers to move into residential properties after the initial agreement is signed.In most countries of the world, the buyer did not take possession of the property until the final agreement was signed and the property deed was transferred from the seller to the buyer