Posts Tagged ‘Italian Real Estate’

Italian Real Estate Market

Thursday, October 14th, 2010

Are you thinking of relocating to Italy, for business or pleasure, or perhaps purchase a vacation home there? There are many different regions to select from, each with its own culture and climate.

First we will consider in the Tuscany region, which is absolutely gorgeous. There is seamless integration of the beautiful land here and a great variety of homes. You will be fascinated by the tiniest hamlets to largest cities like Florence. A simple walk in the country in this area will lead you through vineyards and forests and past old farmhouses and even castles. This area is also rich in culture, with several museums. Connoisseurs of both wine and fine food will be happy here as well, and for a bit of pampering, you may want to visit one of the many serene spas.

Sicily is the largest island in the Mediterranean Sea, with minor islands surrounding it. A little-known fact is that Sicily is a very multicultural society – it has been ruled by Africans, Asians and Europeans. To round out Sicily’s charm, those who visit and live there marvel in its history, folklore, art and archeology.

Alto Adige, on the northeast coast of Italy has many similarities to its border country of Austria. This reflected in the culture, food and recreational activities in Alto Adige. The terrain here is varied and beautiful, with alpine meadows, snow-capped peaks and waterfalls. In winter, this is a popular skiing destination, while spring and summer welcome many hikers to enjoy spectacular views of both Italy and Austria. There are, of course, beautiful valleys between the mountains.

What most regions of Italy have in common is that you will have a variety of home types to choose from. You can purchase anything from an urban loft or apartment to a farmhouse, villa or Mediterranean style home or mansion. Before settling on a choice of area, take a look at the nearby amenities.

As you can see, there is quite a variety to choose from when considering Italy as a new home or vacation destination. Regardless of what region you choose, you will be making a good investment. Though the Italian real estate market got away far better than other European real estate markets, there are still bargains to be had in this sector. As a matter of fact, a recent study by Banca Monte dei Paschi di Siena indicates that the country is supporting the recovery of the housing market by extending bank credit to new purchasers, making mortgage funds nicely accessible.

There are several things a ‘foreign’ purchaser should be aware of. Italy expansion, via what they call the principle of reciprocity, the right to allow buy of Italian real estate to countries which participate in this reciprocity.

The two main steps of the buying process are usually as follows. The compromesso should and the rogito must be fulfilled – these are the commitment agreement and the implement of the final deed of sale, respectively. There are various taxes, including the VAT tax, that you will need to understand, but a good agent will make the process seemingly painless.