I am currently selling a 70 m2 apartment in a renovated stone hamlet with a swimming pool, 4 km from Radda in Chianti, in the heart of the Chianti Classico wine producing area in Tuscany. The best way to protect your investment when buying an Italian property is to engage an English-speaking Italian lawyer. Read more. Many people have a dream of owning a property abroad and despite the fall in sales of Spanish and Portuguese properties and the rise in demand for holiday homes in Bulgaria and Croatia, the Italian market remains constant: in 2012 and 2013 more holiday homes in Italy … I have bought and sold property twice in Italy now and to be honest didn’t find it any more complicated than buying in my own country, which is the U.K. However, there are certain potential pitfalls and these vary according to the type, age and location of the property in question. 5 Common Pitfalls To Avoid When Buying Overseas Rental Property. Rent to buy a property in Italy: An example. Welcome to Total Buying Abroad in France. There are many lawyers in Italy specialising in helping expats buy property and many who speak English and will help you through the web of bureaucracy that is involved in buying a house. Don’t forget about further payments, such as a mortgage deposit and fees, often a considerable initial expense. As with buying property elsewhere, how much deposit you’ll need to pay depends on your individual circumstances, though lending conditions in Portugal have become more stringent since the financial crisis so you could require a minimum of 20%, especially if you’re a new resident. For many, buying property in Italy is a lifelong dream. And although there are some relatively cheap areas of Tuscany, such as the Maremma, in the south, by and large €50,000 will not buy you a perfectly finished three-bedroom house set in a couple of acres. Beware pitfalls in buying overseas property. Buying a property in Italy should be a pleasurable experience and there is no reason why it should not be. Whilst it is not tricky as buying one and it is very important to pay attention to specific aspects. Buying a Spanish property. Potential pitfalls of buying property in Italy, Underestimating how long it takes to buy a house, Luxury villas and apartments in Italy for sale, Luxury rentals in Italy: villas and apartments, idealista/tools: magement software for professional estate agents. It is so important that you plan your property purchase carefully. A lawyer will also help you sign all the relevant documents, especially if you don’t speak fluent Italian. The 10 pitfalls of buying property in Spain you should take into account. Many people forget that at the price of the property you have to add about 10% for the expenses. If you are new to the process, we suggest you look at our informative guide to the buying process in Italy. When it comes to non Italian buyers, it’s a trickle rather than a flow. Being led a merry dance Indeed, anyone that’s started to research buying property in Spain will most certainly come across the handfuls of international news stories of expats who have unknowingly bought illegally built houses or suffered from ‘land grab’ and the costs associated with infrastructure works. Water supply in Italy. Graham Norwood and Patrick Collinson report The last thing you want is to be taken for a ride by some cowboy or well-meaning but incompetent amateur. Appointing a lawyer who specialises in property is of paramount importance. With falling house prices in Italy due to the COVID-19 pandemic, 2020 could be the perfect opportunity to invest in Italy and get a bargain. Back to Property Advice Advice Centre Property Advice Common pitfalls to avoid when buying property. However, with a little planning and know-how it’s possible to make this a reality. Whether you are thinking of buying a property in Spain, Italy, France, or Portugal, avoid the pitfalls of buying abroad with these 5 Top Tips!. Are they clearly marked by fences, hedges or walls? There’s a lot to consider, and of course you want the whole process to go well. You’re not required to retain a translator, but you should if you aren’t fluent in Italian. Open an account with a French bank. That’s because, outside of EU nationals, you must have a valid residence permit if you want to buy in Italy. When the systems are different, buying that dream home away from it all can be fraught with problems. Is there any evidence of a well worn track leading across the land? We can recommend the independent legal department at Italian property search specialists The Property Organiser. The fees associated with buying a property in Italy are among the highest in Europe and may include registration tax, land registry tax, value added tax (VAT), a notary’s fees and estate agent’s fees, mortgage fees and legal fees, as detailed below. Get legal advice If you’re buying in Italy, it’s not just the language that will most likely be different, it’s the entire legal process. Let's have a look at some of the most common pitfalls of buying property in Italy for expats. Therefore, it is extremely important to get to grips with the fundamental differences between buying property in Italy and other countries, in order to help foreign buyers avoid potential problems and mistakes. Recently, while surfing the internet, I read that in Ancient Egyptian times the locals only visited The Great Pyramids when they had visitors in town. Buying a property abroad can be fraught with expensive pitfalls, yet for such a big decision it’s one that is often taken lightly. 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