What are the costs of buying a property in Italy?
The costs of buying a property in Italy are generally lower than in many other European countries. The main cost is the property transfer tax, or VAT when buying a new home. The property transfer tax is calculated from the catastral value of the property, which is generally lower than half the current market price of the property. The property transfer tax is 9% of the catastral value for a second home (so typically ~4% of the purchase price), and a mere 2% of the catastral value (or ~1% of the purchase price) if you choose to make your new home your permanent residence, and fullfil a number of other conditions.The VAT for new built property amounts to 10% for a second home, and 4% for a first residence.
The estate agent commission is 3% + VAT from the purchase price. This is a standard buyer’s commission in Italy, and when buying with us, you will pay this commission to us instead of paying it to the local estate agency (so no additional cost to you). The notary fees and other smaller taxes and fees are usually 2-10 000 EUR, depending on the property price and other circumstances.