Choose the best properties in Italy according to your needs
Italy has a very rich and diverse past and has contributed a lot to the world culture. The country has a versatile geographical relief and climate and therefore the real estate market offers a great diversity of properties in Italy as well. You can choose between recreational villas near the Mediterranean or in the mountains or luxury flats in the heart of the capital Rome. You can even pick up the region of your dream home according to your temper – if you are, say, more business-like, then perhaps Milan is your city.
Purchasing properties in Italy – what does it involve?
There are no restrictions for foreigners to buy
property in Italy but the requirement is to show an official document for the money origin if they come outside of the country. The actual purchasing process is not very complicated, however you should be patient because it may take more than a year from first choosing your dream home to actually getting it. The main procedures include making an offer to the seller, signing a preliminary contract, once they accept it, closing the deal before a notary public and then an official registration of the sale.
Is it worthy to get an investment property in Italy?
Property prices in Italy are falling down in recent years – dropping about 16% from 2008 to 2015, with the highest decline of more than 10% in cities like Pordenone and Barletta, while Milan and Naples remained stable even with an increase of about 0.5%. So the idea to buy an apartment to rent out may seem quite appealing, however you shall have a closer look at the market. The figures show that rental returns in Italy are actually quite low. Buying a flat in the historic centre of Rome can cost something like EUR 6000 per sq. m., while renting the same property is for about EUR 16 to EUR 20 per sq. m. This makes an annual return of about 3-4%, so it is good to consider your options before making an investment.
What kind of a property in Italy do you want?
In Italy you can find almost all kind of properties and you just need to choose which one is yours. There is a variety of 2 or 3-bedroom townhouses, holiday villas, cosy flats or buy-to-let properties. Just be advised that if you choose a farmhouse with some land you might need to double check if all farm buildings are legally built and then proceed further.
