Buying Property in Italy as a Foreigner from UK
Buying property in Italy as a foreigner from the UK is generally straightforward.
Whether you’re looking for a coastal retreat, a rural escape, or a home in a bustling city, Italy has something to offer.
Homes come with varying price tags, from the most luxurious villas to more basic accommodations that require some updating.
Fortunately, there are no citizenship or residency status restrictions for foreigners purchasing an Italian property.
Though immigration from the UK has fallen since Brexit, many still join the ranks of British expats living the dream across Italy.
The process may be different when you buy property in Italy as a foreigner from the UK, however, as with any real estate purchase, it’s essential to do thorough research.
By taking the time to carefully assess your options and seek expert advice when needed, you can make informed decisions and find the perfect property in Italy.
Here we aim to assist you with your journey of buying an Italian home with tips and advice that will ultimately bring you closer to fulfilling your Italian dream.
Visas for Italy
Visa for Italy. Image credit: Envato Elements
Just a few words about Italian visas.
While it is not necessary to hold a permanent visa to buy a home in Italy, to truly immerse yourself in the culture and way of life, most would agree it is the most beneficial.
There are plenty of expats who remain in the UK for much of the year and happily use their 90 days out of every 180 visa-free allowance.
However, for those who wish to visit Italy for longer periods or relocate full-time, a visa is now necessary.
Since the UK has left the EU, you must now obtain an “Attestazione di iscrizione anagrafica”.
This document confirms your registration with the local town hall. It also demonstrates your status under the Brexit Withdrawal Agreement between the UK and the EU.
Even if you were already registered as a permanent resident in Italy before Brexit, obtaining this new document is essential to ensure that you are fully covered by the provisions of the Withdrawal Agreement.
There are some easy-to-use step-by-step guides to getting the appropriate visa for your circumstances online.
About the Italian Property Market
House in Tuscany, Italy. Image credit: Unsplash
Acquiring a brief outline of how well the housing market is operating currently can be helpful for those searching for a new home in the country.
Knowing what to expect will equip you beforehand so you can budget much more effectively.
When you have narrowed down your ideal location, speak to a local estate agent.
It will help you to gauge whether the prices quoted in any given location are fair and reasonable.
Most importantly, it will ensure you don’t arrive and suddenly realise you can afford to live in the area you like.
Bear in mind that every area will have regional differences in values.
Major cities like Rome, Milan, and Florence generally have more dynamic and resilient housing markets, with steady demand and higher property prices compared with rural areas or smaller towns.
In recent years, Italy’s housing market has shown positive signs of recovery following the global financial crisis of the late 2000s able it small.
Overall growth is still slow. 2023 was a difficult year for Italy with ongoing inflation rate highs and raging inflation having had a negative impact on economic growth.
Property investors were nervous resulting in a stagnant market.
2024 is looking more positive. Experts are reporting a real prospect of rate reductions in the latter half of 2024, which would be advantageous for both occupiers and investors and should stimulate increased activity.
Buying a home in Italy now could be a good investment!
Take a look at the Idealista website for an in-depth review of Italy’s current housing market. www.idealista.it/en/news/property-for-sale-in-italy/2024/02/15/298303-italy-real-estate-outlook-2024
Easy Guide to Buying your Italian Home
Follow these steps when buying a property in Italy. Image credit: Envato Elements
Once you have determined your budget, preferred location, and timeline for purchasing property in Italy, you’re ready to begin the process.
Here are some steps you can take to get started:
Research the housing market in your chosen location
Familiarise yourself with current trends, prices, and available properties. This will help you refine your preferences and make informed decisions.
Cash or Mortgage?
Cash buyers will always be in a better position to negotiate and bag a bargain.
If you need a mortgage, it is possible to get a mortgage in Italy without being a permanent resident.
Many Italian banks and financial institutions offer mortgages to non-residents, including foreigners who may only be temporary residents or who reside outside of Italy.
The process and requirements may vary depending on factors such as the lender, the borrower’s financial situation, and the type of property being purchased.
Engage a Legal Professional
Even if you have done your due diligence, it is still wise to hire professional help.
Hiring an Italian property lawyer specialising in Italian real estate transactions ensures you will understand all legal requirements and implications.
Engage a Local Real Estate Agent
Hiring a local real estate agent who can provide valuable insights, guide you through the buying process, and help you find properties that meet your criteria will be vital.
Not only do local companies know about the homes already for sale in the area, but they often know about forthcoming sales before they hit the market giving you an edge over other buyers.
If it’s a doer-upper you are on the lookout for, local agents often have established relationships with various professionals in the construction industry, including electricians, plumbers, carpenters, and builders.
Visit as Many Homes as you Can
Try to keep your options open concerning style and size.
Take plenty of time to visit as many homes as possible. You will really gain a good insight as to what is available and what you can afford for your budget.
When you are visiting, take the opportunity to carefully assess their condition, and evaluate their suitability for your needs.
Time to Negotiate
Once you’ve found a property you’re interested in, negotiate the price with the seller or their agent.
Your real estate agent can assist you in this process and help you reach a fair agreement.
There are bargains around. If the home you want requires repair, go in with a low offer!
Property Inspections
There will be a number of title searches and inspections carried out before the sale is legally confirmed.
This ensures there are no hidden issues or surprises after the purchase.
Finalise the Purchase
Once all necessary searches have been completed, and both parties have agreed upon the terms and legal documentation, the purchase of the property can be finalised.
This typically involves signing the necessary contracts and completing any remaining paperwork to formalise the transaction.
Finalising the purchase of a property in Italy, like in many other countries, is a crucial step that marks the completion of the buying process.
Conclusion
By following these steps and working with professionals, you can navigate the process of buying property in Italy with confidence and achieve your goal of owning a home in this beautiful country.
Where to Live in Italy – Choosing Your Ideal Location
Levanto, Liguria, Italy. Image credit: Pexels
British ex-pats are widely spread throughout the country.
That said, there are popular pockets where Brits tend to gather in higher numbers.
Alternatively, you may want to avoid these areas and immerse yourself in the Italian way of life unhindered by other British citizens.
Whatever region, village, town, or city you opt to buy your home in, one thing is for sure, each region offers its unique charm and attractions, making Italy a diverse and appealing destination for expatriates from the UK.
These are among some of the popular places to live in Italy:
Tuscany
Some of the most iconic landmarks and picturesque countryside can be found in Tuscany.
Historic Florence, a significant tourist hub is famed as one of the most historical and cultural destinations in the world.
While Pisa is a treasure trove of history and fascinating sights, including its world-renowned leaning tower.
Residents can immerse themselves in sprawling, lush countryside and vineyards and enjoy the best of the region’s fine dining experiences.
As a region, Tuscany is one of the more expensive places to live in Italy because of its association with tourism.
Liguria
A typically Italian coastal region in northwest Italy, known as the Italian Riviera, attracts British expats with its charming seaside towns, mild climate, and stunning views of the Mediterranean Sea.
It is the third smallest region of Italy.
Liguria’s geographical features, including the barrier of mountains to its north, create a microclimate.
These mountains, including the Ligurian Alps and the Apennines, help shield the region from colder northern winds, resulting in a mild and temperate climate throughout much of the year.
For those seeking an active and outdoor-oriented lifestyle in Italy, this is the place to be.
Umbria
This area of Italy sits almost in the centre of the country.
Characterised by hills, mountains, valleys, and historical towns such as Assisi (a World Heritage Site associated with St. Francis of Assisi).
Sometimes known as the “Green Heart of Italy” Umbria provides expats with a tranquil setting and a rich cultural heritage, perfect for those seeking a peaceful retreat in the Italian countryside.
Abruzzo
Similar to Umbria, this region is also located in central Italy.
Another region that is known for its unspoiled nature, rugged mountains, and picturesque villages.
It has become a popular destination for British expats seeking a slower pace of life and opportunities for outdoor activities such as hiking, skiing, and wine tasting.
Puglia
Situated in the heel of Italy’s boot, Puglia is renowned for its whitewashed villages, olive groves, and sandy beaches.
One of Italy’s more property-affordable regions, Puglia is becoming increasingly popular among British expats attracted to its Mediterranean climate and coastal lifestyle.
Puglia is also renowned as a foodie destination, unsurprisingly seafood is top of the menu.
Sardinia
Best for beaches and coastline Sardinia is the second-largest island in the Mediterranean Sea, after Sicily and sits around 150 miles from the Italian mainland.
Due to the variety of Sardinia’s ecosystems, including mountains, woods, plains, stretches of largely uninhabited territory, streams, rocky coasts, and long sandy beaches, Sardinia has been described as a micro-continent.
The islands1242 miles of coastline is dotted with some of the most beautiful beaches in the world. Its untouched beauty and turquoise waters are simply breathtaking.
Lazio
Home to the capital city of Rome, also known as the city of fountains, the eternal city and the holy city.
Lazio is a diverse region that combines urban sophistication with rural charm.
British expats living in Lazio enjoy easy access to the amenities of a major city while still being able to explore the surrounding countryside nearby and numerous historical sites.
Lazio is the most populated region of Italy and is home to around 5.7 million inhabitants.
This is the place to be if city living appeals to you. However, the cost of living does not come cheap.
Italy is divided into 20 regions, each with its own distinct geography, culture, and traditions.
Each region is packed with countless towns and villages, so you are sure to find one that you can call home.
Moving your Personal Effects to Italy
White & Company Truck
If you are buying property in Italy as a foreigner from UK, White & Company offers a comprehensive removal service to help make your move from the UK to Italy as smooth and stress-free as possible.
Moving to a new country can be a daunting experience but having a dependable and experienced removal firm to assist you can alleviate some of the main challenges.
Our tailored approach to each move ensures that your belongings are handled with care and transported safely to your new residence in Italy.
Whether you prefer an in-person survey or a virtual assessment, White & Company’s helpful surveyor will work with you to provide a competitive quotation for your move, with no obligation to proceed.
Having a removal company you can trust, can make a significant difference in easing the transition to your new home abroad.
It’s reassuring to know that there are professionals available to support you throughout the moving process, from planning and packing to transportation and delivery.
If you’re considering a move to Italy, reaching out to White & Company for assistance with your relocation could be a valuable step towards ensuring a positive and hassle-free moving experience.
Max is a seasoned writer and blogger in the real estate and home moving sectors, as well as a knowledgeable source of information for expatriates living and working abroad. His detailed insights have helped thousands of people move and live abroad with greater simplicity and ease.
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