Buying Property in Italy: A Complete Overview
Italy is a dream destination for property buyers, from Tuscan farmhouses to Milanese apartments. The buying process begins with a proposta d'acquisto (purchase proposal), followed by a compromesso or contratto preliminare (preliminary contract) that requires a deposit of typically 10-30% of the price. The final rogito (deed of sale) is executed before a notary (notaio), who is a public official responsible for verifying the legality of the transaction. The tax treatment depends on whether the property is new or resale and whether it is your primary residence (prima casa). For a resale primary residence, registration tax is just 2% (minimum 1,000 EUR). For a non-primary resale, registration tax jumps to 9%. New builds from a developer are subject to IVA (VAT) at 4% for prima casa or 10% otherwise. The real estate agent (agente immobiliare) typically charges 3-4% plus VAT from each party.