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Types of property in Italy: a guide for property investors

Following the integration of Italy into the European Union, property investors from all over the world have invested in property in Italy. With millions of visitors each year, the appeal to buy property in Italy is broadening - from investors who dream of owning luxury homes in Italy to those who are interested in restoring or renovating old property in Italy, keying into Italy's long established history and rich sense of culture.

Property in Italy

Surrounded by the Mediterranean Sea, Italy has the world's seventh largest economy and has a rich cultural and historical heritage, which has been largely romanticized by famous philosophical thinkers and art figures through the ages. It is this romantic and cultural legacy that makes the idea to buy property in Italy so appealing. This cultural legacy applies to Italian Property just as much as it does to Italian art, fashion, food and drink. Worldwide investors continue to buy property in Italy of all types, with British buyers actively investing in Italian Property in Tuscany, Umbria, Marche, Sicily, Lazio and Calabria.

Good value combined with a sound investment when you buy property in Italy has been heightened by the wide appeal of budget airlines, which has made even short weekend stays in Italian Property popular all year round. This has made a significant impact on the buy-to-rent market for property in Italy. It also makes the possibility of investing in Italian restorations easier, as previously unspoiled and inaccessible regions of the country are now better connected, allowing such Italian Property projects to move faster and more efficiently whilst still allowing investors to keep an eye on business at home. If you want to buy property in Italy, then now is the perfect time to take your dream to the next level.

Luxury homes in Italy

Many people who look to buy property in Italy take advantage of buying luxury homes in Italy. The reason for this is simply because there are many positives that come with this type of Italian Property, that they offer such good value for money. Often these types of property are purchased by people who buy property in Italy looking to spend most of their time in the country and wanting to take the opportunity for a better quality of life. Such areas as Portofino offer luxury homes in Italy that are set in stunning scenery, with coastal views, olive groves and a beautiful village which offers a range of fine restaurants and designer shops, and all of this on your doorstep. Luxury homes in Italy offer previously restored Italian Property set in stunning locations. Generally the living spaces are large and often decorated in traditional style, using high quality and locally produced materials. Located in excellent positions with large outdoor spaces and close to local amenities, this kind of property in Italy is ideal for buy-to-let investors who can let to holidaymakers all year round.

Alternatively, second home buyers who dream of luxury homes in Italy can use them as a home from home and can make some money from their property in Italy by renting it when it's not in use for family vacations or prolonged stays in the country.

When you want to buy property in Italy, you may think that you cannot afford to look at luxury homes in Italy. The taxation reforms in Italy mean that buying this kind of property in Italy is actually quite affordable. The cost of tax for people who buy property in Italy is usually between 0.4% - 0.5% of the property's fiscal value. This can depend on size, location and age of the Italian Property and what kind of category it comes under; whether it is rural, detached, a castle or historical building or a typical house of the region.

Italian Restorations

Popular types of Italian Property bought by investors are Italian restorations. Take a look on the Internet and you will find lots of opportunities to buy property in Italy that falls into this category. A typical example would be a 2-bedroom house located in the village of Casa Varano, Tuscany. The 100 square meters of living space consists of a sitting room, kitchen and two bedrooms, while retaining many of its original features such as a vaulted ceiling and an oak front door. Although this is a habitable property in Italy, if you buy property in Italy that is not classed as habitable but is available for restoration, then property tax is cut by half. These can apply to such property in Italy as an old barn conversion and very old structures that need serious work.

When you buy property in Italy to restore, make sure that the land around your Italian Property is not going to be sold for commercial or residential purpose. Find out where the earthquake zones are and steer clear of them. Make sure that your property in Italy is well connected to transport routes. The cost of restoring property in Italy can be quite expensive - anything between £500 and £1000 per square foot . You will also need to budget for unexpected bills and fees that often occur when you buy property in Italy.

How to buy property in Italy

When making an investment in Italian Property, it is best to start with looking at why you want to buy property in Italy. If you already have an idea of the kind of investment you want to make, whether it is a new home for relocation, a buy-to-let or second home to split your time in different countries, it should have some bearing on the location and type of property in Italy. Hot tourist spots are best for renting Italian Property, so places like Florence, Venice and Rome, which are popular for their architecture and artwork , are ideal.

Luxury homes in Italy located in rural and coastal areas such as Tuscany and Naples are very good for second homes. Rural areas are great for Italian restorations and for people who want to spend a larger amount of time in their property in Italy. It is common sense to stick to your budget when you buy property in Italy. You need to research the location of any property in Italy you are interested in, and it is also best to employ a professional service that will oversee the paperwork when you buy property in Italy. They can also help organize any restoration on Italian Property.

A professional property service in Italy can also support you in your search to buy property in Italy, as well as offer financial and legal guidance and advice. Processes such as helping you to open bank accounts, advice on mortgages, making sure you have all approved planning permission and obtain an Italian fiscal code which you need to buy property in Italy are all vital if you want your investment to go smoothly. By getting the very best in support when you look to invest in a property in Italy, you are that step further in making your dream of owning Italian Property a reality.