Buying property in Italy
Buying a property in Italy as a foreign buyer is an exciting, but sometimes confusing, process.
Italy Property Guides have helped thousands of people, just like you, to find and purchase a property in Italy safely.
Our experience tells us that the key to a successful property purchase in Italy is good planning and connecting with the right professionals.
This page will give you an introduction to buying a property in Italy as an international buyer.
Who can buy a property in Italy?
Anyone can buy property in Italy. You don’t have to be a resident or have Italian citizenship. But there are limitations on how you can use your property.
Non-European Union (EU) citizens can stay in the property for up to 90 days in every 180. However, if you wish to reside in Italy long-term you will have to consider your residency and visa options.
Should you wish to buy a property and rent it out, it’s important to check local legislation around short-term lets.
For guidance on buying an investment property in Italy, speak to an expert in property law today
The professionals who will help you buy in Italy
Unless you’ve already bought a property in Italy or have connections there who can help you navigate the buying process, we advise you to put together a trusted team of professionals to assist you on your buying journey. The following three professionals are recommended for a safe and successful property purchase for a foreign buyer in Italy.
Estate agent
Selecting the right real estate agent in Italy will significantly help your property search. A competent agent will not only help you find your ideal home but also streamline the entire buying process. They will ensure you make the most of your time in Italy during viewing trips and assist with necessary paperwork.
Make sure your chosen agent is well-qualified. Personalised assistance is key when purchasing in Italy, so your agent should be dedicated to meeting your needs.
Look for an agent who:
- Is proactive and provides excellent service.
- Responds to enquiries promptly – test their responsiveness by sending a brief before your visit.
- Has a deep understanding of the market, local regulations and the intricacies of international property transactions.
- A good estate agent will also help you settle in, advising on utilities, recommending local services, like doctors, and more.
In Italy, the real estate sector is strictly regulated. Agents must complete training, register with the government, and display an official registration number. You can verify their credentials through the Italian Chamber of Commerce.
Property lawyer
Given the fact that you are spending a significant amount of money in a foreign country with a foreign currency and language, hiring an independent lawyer with expertise in Italian property law seems like a wise investment. They should have local knowledge, speak your language and have experience assisting international clients.
The key is to ensure your lawyer is solely focused on your interests. Therefore, it’s advisable to choose an independent lawyer rather than one recommended by the agent or developer.
Your lawyer will be able to manage the entire purchase process and provide advice on taxes, inheritance issues and any additional fees.
Please note, all legal documents in Italy are naturally drawn up in Italian, therefore it’s important to hire a property lawyer who speaks your language to ensure you’re 100% confident in the documents that you’re signing. Most law firms in Italy have multi-lingual staff and offer translation services.
Currency specialist
When purchasing property in Italy, the price will be in euros. If your funds are in another currency, a currency specialist can help facilitate the transfer.
Unlike high-street banks or app-only services, a currency specialist will help property buyers manage their exposure to volatile exchange rates.
This is a key contact for international buyers as homes in Italy will be priced in euros. If your home currency differs, then the price that you agree to pay in euros will continue to fluctuate with the markets not just daily, but by the minute.
You may also require the services of a visa & residency specialist, a mortgage advisor, an independent financial advisor and a removals company.
To be put in touch with a trusted expert, call our team today on 020 7898 0549.
Steps to buying in Italy
When buying a property in Italy, it can help to work backwards with your planning. Pick the rough date by which you want to make the move and you can plan sensibly and proactively. Here is an example of a six-month timeline.
Six months to go
- Start your planning by serious considering your reasons for buying. This will influence where and what you look at.
- Determine what you want in terms of property type, size, location, accessibility and budget. Separate your must-have features from your nice-to-haves.
- Begin to assemble your team of professionals, including a property lawyer and a currency specialist. You may also wish to contact a mortgage advisor and financial advisor too. These are the people who will ensure things run smoothly.
- Evaluate your financial options and set a budget. Allow for buying costs of up to 10% on top of the sales price.
Five months to go
- Start your search for property in Italy online.
- If you want to, engage a buyer’s agent. They can make things much easier, and even save money in the long-term.
- Talk your options over with your estate agent and book a viewing trip to Italy.
- Think about how to structure any deal for your home, such as, will you be co-owners, if unmarried? Speak to your lawyer about this.
Four months to go
- Start your viewing trips.
- Get a codice fiscal (fiscal code) and open an Italian bank account. The latter is not an essential step but it will make things easier down the line when setting up utilities.
- Ensure everything is in place should you find a property you like, including availability of funds. Speak to your lawyer and currency specialist to check your deposit and legal structure are ready to go.
Three months to go
- Book in extra viewing trips, if necessary, and make an offer when you discover your dream property in Italy.
- Consider signing a proposta di acquisto (purchase proposal). This is a declaration that you want to purchase the property at a certain price. This is a commitment to buy, but the seller isn’t obliged to accept.
- Once you’ve made an offer, your lawyer will arrange a contract with a notaio (notary), who will observe the deal on behalf of the Italian state.
- Begin organising meetings with specialists that can help you with specific areas of your move, including inheritance laws, property taxes, and removals.
- Decide how you will transfer the funds for purchase. A forward contract with your currency specialist can fix the exchange rate for a year or two. This way, if the rate drops, the price will be locked in and won’t need to pay any more.
Two months to go
- Sign the preliminary contract, known as the contratto preliminare. This is also signed by the seller to signify the sale will go ahead. At this stage you will also pay your deposit (caparra).
- Your lawyer will work with the seller’s lawyer and notary to verify the paperwork, which can take a few weeks. You can use this period to plan any new decorations and renovation, as well as ensuring you’re all set to get utilities connected.
Final countdown
- Attend the notary office with the seller to sign the atto pubblico di compravendita (public deed of sale).
- Make your final payment.
- Receive the keys to your home in Italy.
Do I need a survey?
A technical survey is not a mandatory when buying a house in Italy. However, some lenders will insist on a survey by an expert before approving a loan. The lender will mainly want to know that the valuation shows that the property is worth the asking price. Therefore, for your own peace of mind, it’s a good idea to have a detailed structural survey done.