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Italy - Buying Property


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Property prices in Italy range from the very affordable to the very expensive. Some areas, such as around the northern lakes or in Venice, have always been expensive whereas other areas, such as Tuscany, have only relatively recently started to attract very high prices. With these more traditional expat locations becoming less affordable, attention has turned to other areas. In particular, Umbria and Abruzzo have recently experienced an upsurge in interest from those looking to buy property in Italy. Further south, Puglia (or Apulia) offers splendid surroundings at much more reasonable prices than the pricier north. For those searching for a real bargain, however, Reggio di Calabria in the far south-west is unspoilt and offers plenty of choice.

As in many other areas of Italian life, bureaucracy plays a large part in the house buying process. Registered Italian estate agents, however, are able to do the initial conveyancing work so there may be no need to hire an English-speaking lawyer at that stage. The typical procedure for buying a house is as follows:

1. Agree price and sign a "compromesso di vendita" (preliminary contract)
2. Pay a deposit (usually 10 to 30%)
3. Upon completion both parties sign a document called "il rogito notarile" and the balance and fees are paid as appropriate





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