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Real Estate in Florence Italy

Things to consider before looking for real estate in Florence Italy:

  • Go with an established Tuscan real estate company, one that is experienced in communicating with English speaking clients and also familiar with the documentation and legalities of foreign purchases.

  • Under no circumstance sign any documentation in Italian which has not been interpreted for you or which you do not understand. (You will be surprised how many people do!)

  • If you are looking to purchase outside of the cities you need to consider the distance to Airports, train stations, bus routes, shops, schools etc. It may be a beautiful hour long trip through the Tuscan landscape to do shopping but the novelty wears thin after a few months.

 

Real estate in Florence Italy: Where are the bargains?

Regardless of negative global trends property in Italy, and especially Tuscany, has barely raised an eyebrow. If you thought of finding bargains in Florence you may have to think again.

However it's not all bad news, if you know where to look there are still bargains to be found in real estate in Florence Italy.
Maremma, on the border of Tuscany and Lazio (Rome's province) is relatively "undiscovered" by foreign investors. It has a hundred miles of beautiful rugged and unspoiled coastline including its own National Park. Its area begins on the coast next to Isola di Elba (Elba island) and extends Southwards to the border of Lazio at Orbetello. Here you can find free standing villas for half the price of what you will pay further North closer to Siena and Florence!

Consider these scenic medieval towns in the Maremma area: Pian di Rocca, Abbadia San Salvatore, Castel del Piano, Scarlino, Gavorrano ,Montemassi, Manciano, Sovana, Saturnia spa resort and Populonia. Follonica is a beach resort with clean seas and coastal pine trees providing shade for the sun worshipers.

Activities in the Maremma area include water sports, winter skiing at Mount Amiata, golf, hiking, horse riding, mountain biking tennis etc.

Other regions to consider are Abruzzo, Puglia and Molise; they are known to have as much charm and beauty as you would find in Tuscany but without that "already discovered" feel.


 

Buying real estate in Florence Italy: The legalities

It's good to note that there is no Capital Gains Tax in Italy so you get to keep the whole profit from the sale of your real estate in Florence Italy.

The steps in purchasing:

1) Making the "intention to buy" signals just that, and the property you wish to purchase is then removed from the market whereupon a deposit must be placed on the property. The percentage/size of the deposit depends upon the prior request of the seller. (A good estate agent will make these details/amounts clear before you step out the office to view the property.)

2)The deposit is fully refundable until investigations into the property have been completed

3) A lawyer and surveyor need to ensure that the paperwork and plans are in order and in concordance with the existing structure. They also need to ensure the seller is the sole owner of the building and that there are no outstanding mortgage repayments on the property (something that is strange to buyers from English speaking countries as the mortgage is attached to the individual/s and not the property). Further investigations may also be made into planning permission for further developments.

4) If all is OK (once the buyer is satisfied with the conclusions of the lawyer and/or surveyor) a preliminary sales contract is drawn up. A larger installment must now be paid, usually between 10-30% of the property value. Again, do enquire as to these amounts before beginning step 1).

5) If you do not already have an Italian bank account then you will require a fiscal tax number, once that is obtained the property will be registered for tax you will sign the final contract in the notary's office.

The above process usually takes 2 months and fees are usually between 8-10% of the property value.

I hope my advice on Real Estate in Florence Italy comes in handy. If we have helped you in any way please show your appreciation by book marking this page and/or sharing it with your friends. Thank you.

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