Case in Vendita in Liguria | Immobilien Verkauf Italien Ligurien | Real Estate in Italy, Liguria for Sale
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New finance laws: Italian real estate, February 2006: Attention > there are a lot of other changes too in the meantime > ascertain the actual laws and regulations
New finance laws have been introduced in Italy regarding the buying and selling of residential property between private individuals: The rules stipulate that buyers can now declare the actual sales price in the notary deed but only have to pay taxes on the re-valued cadastral value of the property. The notary fees will then be calculated on the actual sales price with a discount of 20%.
There have also been changes in capital gains
tax to discourage vendors from under-declaring the market price they receive.
Now where a vendor
is selling within five years of purchase and will, therefore, have to pay
capital gains tax on the profit made, they will only now pay 12.5% on the gain
instead of the past average of 30%.
As the tax regulations
change frequently it is worth checking what the current situation is (local
accountant / commercialista). Costs incurred for a foreign citizen upon buying
of property in Italian territory (there aren't particular restrictions for Swiss
buyers but Italian banks generally doesn't allow mortgage).
Notary's fee (approx.) according value of property: EUR 250.000 >> € 2.000, EUR 500.000 >> € 3.000
3. You will also pay the Geometra’s fee for the conveyance
of the property. These can vary between EUR 500 and EUR 3,000 depending upon
what work is involved in the conveyance.
If asking for Primary House facility (with the condition to apply for been a Property Resident within 18 Months from the date of purchase) taxes at Point of Purchase are at 3% of the property price on the notary deed.
In the case that the estate owns hectares of land, taxes
at Land Point of Purchase are 18% (considering that the estimate value is less
that the one of the building)