News by tag italy
In recent years, Italy has seen a notable increase in property purchases by foreign buyers, with over 5,000 new homes acquired in 2020 alone. This surge highlights a growing trend among international investors and homeowners seeking a slice of Italian charm and lifestyle. The data, sourced from reputable institutions such as the Italian Revenue Agency and the National Institute of Statistics (ISTAT), underscores the appeal of Italy's diverse real estate offerings—from historic villas nestled in Tuscany to modern apartments along the Amalfi Coast. Let's delve into the factors driving this influx of foreign interest and the implications for Italy's property market.
HOW TO BUY A HOUSE IN ITALY: THE STEPS
Before buying a house, it is useful to obtain as much information as possible about the property and, most importantly, to ensure that you are purchasing from the rightful owner. Additionally, it is important to know what happens if you decide to enter into a preliminary contract (the so-called "compromesso").
Here are the steps:
Check the cadastral and mortgage data, also with the help of the services of the Revenue Agency: It is crucial to verify the official property records.
Sign a preliminary contract: The preliminary contract, also known as the "compromesso," is an agreement between the seller and the buyer in which both parties commit to entering into a subsequent and final sale contract. It is a formal commitment.
Sign a sales contract in the presence of a notary: The transfer of property ownership will only occur upon signing this contract.