Fees for buying property vary but are usually between 10 and 15%. For those purchasers looking for a mortgage from an Italian lender the typical deposit amount would be around 20%. Also, mortgages from Italian lenders need to be cleared before the borrower's 70th birthday.

As far as tax is concerned, a purchase registration tax of 3-4% is payable if the property is the prinicipal place of residence (you will also be required to register as a resident within 18 months). If the property is not a principal place of residence then a tax of 10% is payable. Finally, a local property tax called ICI ("Imposta Comunale surgli Immobili") of 0.4 to 0.7% of the property value is also payable.

There are a few important points to be aware of when thinking of purchasing property in Italy. For example, after putting down a deposit, if a buyer pulls out they will lose the entire amount. If the vendor pulls out not only must the deposit be returned but often the same amount is required to be returned on top of that too. Also, be aware that buyers inherit unpaid debts on a property. Property can be repossessed and sold by a lender or local authority to pay a debt.