If you are considering a life in Italy then one of your first considerations will certainly be a place to call home.
Here are some tips to help you find your way through Italy property market, whether you are looking at buying or renting property in Italy.
Italy Property – Buy or Rent?
Expats are faced with the option of buying or renting property when they are moving to Italy.
Ultimately the decision to buy will be determined by the reason for your stay in Italy and the duration of your relocation.
Even if you plan to buy Italian real estate a short term rental makes sense when you first arrive in Italy so that you get to know a neighborhood and make an ultimate decision on where you wish to purchase real estate.
Italy’s Rental Market
Expats in Italy will find an abundance of rental property in the large cities and towns. Rental contract periods cover the whole range from short-term holiday lets to long term stays. Note that most of Italy’s housing in the large cities comprises apartments rather than houses.
Prices also cover the full spectrum depending on your needs. A letting or real estate agent can assist you with a rental property search and expat forums and message boards are also helpful resources to help you with your property search .
Strict national laws make it preferable for landlords to rent to foreigners than to Italians so expats in Italy will find themselves at an advantage in the rental market.
Houses are let as unfurnished, part furnished or furnished. Expats in Italy should be aware that unfurnished often means that the house is essentially bare, including an absence of kitchen equipment. Part or fully furnished properties may therefore be more appropriate to those moving to Italy from overseas.
Italy Property – Buying Houses in Italy
A high percentage (around 85%) of Italians owns their own home so expats in Italy choosing to buy real estate are in good company and there is still certainly value for money to be had in rural areas.
Italy’s real estate buyers enjoy a high level of legal protection in Italy but it is still wise to hire legal assistance that understands Italian law as early in the process as possible to protect you from problems at a later stage.
Remember to include the additional costs to your budget planning when considering buying real estate in Italy: agency fees, translation fees, purchase tax, notary fees, local registration fee, banking charges for money transfers to Italian currency, surveyor and lawyer costs.
Italy Property – Finding the Right Home
Whether you choose to buy or rent in Italy be sure that the neighborhood you are searching in is the right one for you and your family. Think about the amenities on offer and trust your instincts when you view property.
Don’t rush in to any decision and ensure that you understand the contract details before you sign ask for a translation if you are not sure.