FinanceMortgagePropertiesThe costs of purchasing and maintaining a property in Italy

25 September 20230

Are you thinking of buying and maintaining a property in Italy? It is essential to have a clear understanding of the costs involved before making any commitment. From initial purchase costs, such as taxes and legal fees, to ongoing expenses, such as property taxes and maintenance, we will provide you with valuable information to help you make informed decisions.


When it comes to buying and maintaining a property in Italy, there are several costs to consider. Understanding these costs in advance can help you make an informed decision and avoid surprises along the way. Let’s take a look at the initial purchase costs to consider:


The price of the property is the most significant expense. It varies depending on location, size, condition and market demand. Prices can vary from affordable to luxury, so it is essential to set a budget and stick to it. Researching the real estate market in your desired area can give you an idea of what to expect.


When working with a real estate agency in Italy, you generally have to pay commissions for its services. These commissions are usually a percentage of the property price and can vary from 1% to 3%, or more in some cases. The custom in Italy is 3% + VAT. The agency will assist you throughout the buying process, helping you find suitable properties and negotiating with the seller on your behalf.


Notary fees are another important cost to consider. In Italy, a notary is involved in the property transfer process and ensures that all legal requirements are met. Notary fees are generally based on the value of the property and can range from 1% to 2% of the purchase price. These fees cover the notary’s services, including drafting the deed and registering the property with the relevant authorities.


When buying property in Italy, various government taxes and fees must be taken into account. These may include:
* Imposta di registro: This tax is calculated based on the cadastral value of the property, which is an estimate of its market value. The rate varies from 2% to 9% depending on various factors, such as the type of property and whether it is a primary residence or a second home.
* Value added tax (VAT): VAT is applicable when purchasing a newly built property directly from a builder. The rate is generally between 4% for ‘first home’ purchase; 10% for ‘non-first home’ purchase; 22% for luxury property purchase.
* Stamp duty: stamp duty is a tax on official documents, including the notarial deed of sale. The rate is generally 2% of the purchase price.

* Mortgage tax: if you need a mortgage to finance the purchase of your property, you will also need to consider mortgage tax. This tax is calculated as a percentage of the mortgage amount and can vary from 0.5% to 2% depending on various factors.
It is essential to consult a local expert or professional to obtain precise information on the specific taxes and charges applicable to the purchase of a property in Italy.
By understanding the initial costs of buying a property in Italy, you will be able to properly plan your budget and ensure a smooth transaction. Remember to consider these expenses in addition to routine maintenance and any renovation or improvement costs you have in mind.


When it comes to buying and maintaining a property in Italy, it is important to consider the ongoing expenses that you will need to budget for. These expenses include property taxes, insurance, utility bills, maintenance and repairs. Let’s look at each of these in detail:


As in many other countries, owning a property in Italy means you are responsible for paying property taxes. The amount to be paid depends on various factors, such as the location, size and value of the property. It is important to research and understand the specific property tax regulations in the region where you intend to buy. Consulting a local expert can help you accurately estimate these expenses.


Having insurance coverage for your property is essential to protect your investment. In Italy, homeowners are generally required to have property insurance. This insurance generally covers damage caused by accidents, natural disasters and theft. The cost of insurance depends on factors such as the value of the property, its location and the level of cover chosen. Comparing different insurance providers and policies can help you find the best coverage at a competitive price.


Like any other household, you will have to pay utility bills for your home. These bills include electricity, water, gas and other services such as internet and cable TV. The cost of utilities varies depending on factors such as the size of the property, the number of occupants and the region in which the property is located. It is important to anticipate these ongoing expenses to ensure a comfortable living environment.


Property maintenance and repairs are an ongoing responsibility for every homeowner. Routine maintenance activities may include gardening, cleaning and general upkeep. In addition, unexpected repairs, such as plumbing problems or roof leaks, may occur and require immediate attention. It is wise to budget for these expenses and set aside funds each month to cover any unforeseen repairs.
Being aware of these ongoing expenses will help you make an informed decision about buying and maintaining a property in Italy. By budgeting for property taxes, insurance, utility bills, maintenance and repairs, you can ensure a hassle-free ownership experience.
Keep in mind that the costs given here are general guidelines, and it is essential to research the specific expenses related to the location and characteristics of the desired property. The advice of professionals familiar with the Italian property market will provide you with the most accurate information and guidance.


When buying and maintaining a property in Italy, it is essential to consider the additional costs involved. These expenses go beyond the purchase price and can significantly affect your budget in the long run. Here are some key areas where you may incur additional costs:


When you purchase a property in Italy, you may find that it needs some renovation or improvement work to suit your personal preferences or to ensure that it complies with safety requirements and building regulations. Renovation costs can include anything from simple cosmetic changes to major structural renovations.
It is essential to anticipate these costs and take them into account in the decision-making process. Hiring contractors, purchasing materials, obtaining the necessary permits and supervising the renovation process can all contribute to the overall costs. By assessing the conditions and potential renovation needs of a property in advance, it is possible to better estimate the costs to be incurred and avoid any surprises.


If you are considering investing in a property in Italy but will not be residing there permanently, you might consider hiring a property management company. These professionals can take care of various tasks, such as finding suitable tenants, collecting rent, handling maintenance issues and complying with local regulations.
Property management services can offer convenience and peace of mind, but they come at a cost. Property management fees are typically a percentage of rental income, ranging from 5% to 15% or more, depending on the extent of the services provided. It is important to assess the potential rental income and weigh it against the associated management fees to determine whether it is a financially viable option for you.


When dealing with real estate transactions in Italy, it is advisable to seek legal and accounting assistance to ensure compliance with local laws, regulations and tax obligations. Hiring professionals such as lawyers and accountants can provide valuable guidance and help streamline the process.
However, it is important to note that legal and accounting fees may increase. These fees may vary depending on factors such as the complexity of the transaction, the scope of services required, and the fees charged by the professionals hired. Before proceeding with any property contract or transaction, it is wise to obtain estimates for legal and accounting fees so that you can make informed decisions and avoid unforeseen financial burdens.
By taking into account these additional costs associated with purchasing and maintaining a property in Italy, you can better plan your budget and ensure that you are financially prepared for both initial expenses and ongoing commitments.


In conclusion, it is important to consider the costs associated with purchasing and maintaining a property in Italy. Although the initial purchase price may represent a significant investment, it is also crucial to take into account additional expenses, such as property taxes, insurance and utility bills. It is advisable to do thorough research and consult a professional to understand the specific costs involved in owning a property in Italy. This way, you can make an informed decision and ensure that you are financially prepared for the responsibilities that come with owning property in this beautiful country.

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