The process of buying a property in Italy: important steps
1. purchase offer ("offera")
- A formal, written offer (in Italian & English) is submitted via the estate agent.
- A deposit of 10.000-20.000 € ("Caparra Confirmatoria") is due upon acceptance.
- This down payment is Legally binding:
- If the buyer withdraws, it expires.
- If the seller withdraws, the buyer can claim back double the amount.
2. preliminary contract ("Compromesso" or "Contratto Preliminare")
- Will after acceptance of offer and is binding for both parties.
- Contains purchase price, closing date and all contract details.
- Buyer makes a down payment of 10-20 % of the purchase price.
- Brokerage fee ("Provvigione") is due at this time.
3. notarized purchase contract ("Rogito" or "Atto Notarile")
- The notary ("Notaio") carries out the Legal transfer of ownership through.
- The buyer chooses and pays the notary who ensures the legality of the purchase.
- A official translator is compulsory for non-Italian speakers.
- A Italian bank account is recommended but not required - the notary can process payments via an escrow account.
Taxes when buying real estate & property in Italy
Taxes on purchase
- Real estate transfer tax ("Imposta di Registro")
- 9 % of the cadastral value for Vacation homes.
- 2 %if the buyer within 18 months after purchase Residence status ("Prima Casa") applied for.
- Payment is made at the notary.
- Value added tax (VAT): 10 % (or 4 %), only for New buildings or off-plan purchases from the developer.
- Further feesOne-off Fees (~50 € each) for land register, cadastre & mortgage entry.
Annual taxes
- IMU/TASI (property tax): 0.7-1 % of the cadastral value, payable in June & December. Prima Casa is liberated.
- TARI (garbage fee): 2-4 € per m²varies depending on the municipality.
Further aspects
- Non-residents must have rental income in Italy and taxable in their home country (double taxation agreement applies).
- Capital gains tax (26 %) is incurred when a Vacation home within 5 years is sold.
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