Properties in Italy
Few could doubt the wealth of natural and man-made beauty in Italy, a country which combines magnificent unspoilt countryside with cultural and architectural treasures in a way that most other countries can only imitate. In many of the more established tourist areas, like Venice, Liguria and the ‘Chianti-shire’ area of Tuscany, the property prices reflect this; but on the plus side, there is an awful lot of Italy yet to be heavily marketed to tourists, which means prices can be surprisingly affordable.
Why buy in Tuscany? It is a stunning region: stone farmhouses sit atop rolling green hills, gazing down upon a land cultivated since Roman times. Tuscany continues to be a favourite location with non Italian buyers which is reflected in the strength of property prices that continue to rise, thus making the region ideal for an investment.
Future new development in Tuscany is limited - as a result, real estate growth in Tuscany has been booming – no other sector is delivering such a good return on an investment.
Frequently Asked Questions
Will I pay taxes?
Yes there are municipal taxes to pay on every property, and also owning a property in Italy it is necessary to fill in a personal tax return.
How much money does one have to put down immediately?
As a rule, one third of the asking price.
What is a notaio (notary official)?
Someone who represents the state and oversees the sale, to make sure both parties rights are protected.
What is the process in signing a contract?
In Italy only a notary (notario) can officiate, create and validate a contract, whether it be for buying or selling a property, establishing a company or partnership etc.
Can I have a lawyer instead or a notary official?
No, but should you wish your lawyer be present at the contract signing, I'm sure that would be fine. Your lawyer can advise you re. the contract, but he cannot substitute the notary official.
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