What is the annual cost of owning a property in Italy?
The annual costs of owning a property in Italy are mainly the property tax, waste removal charges, utility bills and condominium fees. The amount of tax depends on the use of property and its location. There is a significantly lower tax for residential properties used as a first home. Properties in close proximity of the sea could pay higher taxes. The utility bills are similar to those in the rest of Europe, although elecricity in particular is relatively expensive in Italy. Condominium costs depend of the amount of services and communal spaces the condominium offers. They would be much lower in houses with no concierge and few amenities.