Italy Information

Italy is very quickly becoming comparable to countries such as Spain and Portugal in the number of people from the UK that are buying overseas investment properties in this country. When you compare the prices of holiday villas and homes in Italy to those of other countries, you will find that they are very low. A typical property in need of work would cost you about £28,000, an apartment about £50,000 and a home in a rural area about £70,000. In addition to this, Italy does not have any restrictions on foreign ownership.

Italy is a country of diverse landscapes from the Alps to the beaches along the Mediterranean Sea. Many lakes characterize the foothills area of the Alpine region and the islands of Sicily and Sardinia are offshore. Southern Italy, closest to the Mediterranean, has the cheapest cost of living. However, the cost of living in the major cities of Italy is quite comparable to that of the UK. Luxury goods can be more expensive, but wine and food is a lot cheaper.

Buying investment property in Italy is a very simple process. You will have to make a 10% deposit to secure the property once you find what you want. Your agent or lawyer can draft a preliminary contract and may be preceded by a binding agreement in which you are bound to continue with the sale, but the vendor can consider other offers and refund your deposit. It usually takes from six to eight weeks to complete the sale and the final conveyance of the deed is done in the presence of a notary. In Italy, there are two kinds of deeds - a private deed and a public instrument. The latter costs more, but it offers you more protection in that if after completing the deal you find that there is a lien on the property, you can bring suit against the lawyer for misconduct in not having researched the property extensively.

When you want to buy property in Italy, you can get a mortgage from an Italian bank, even if you reside in the UK. However, this process is very lengthy. You will, however, need to have an Italian bank account and you must declare any monies that you bring into the country to deposit in your account. The only document you need to be able to buy a home in this country is your passport, but if you are a married woman, you will also need a copy of your birth or wedding certificate showing your maiden name.

There are many advantages to buying investment property in Italy, whether you just want a holiday or retirement home or you want to rent it out to tenants. The northern part of the country is really popular with foreign buyers because of the idyllic setting. Umbria and Tuscany are just two of these resort areas with desirable rural properties for sale. Here you will have stunning scenery to greet you each morning.

There are five main regions in Northern Italy:

• Piedmonte - famous for its ski resorts and ancient historical cities.

• Acosta Valley - surrounded by alpine peaks and properties are surrounded by pine forests, providing peaceful retreats

• Lomabrdy - Milan is located in this region. This area is famous for its Romanesque architecture and the prices tend to be a bit higher in this region.

• Trentino and Alto Adige - live in the region famous for its castles, national parks and abundance of wildlife.

• Veneto - the region in which Venice is located, where you can purchase mountain property just a short distance from the city at reasonable prices.

In Southern Italy, the Puglia region along the Adriatic Sea is a food and wine lover's paradise. You will find many beautiful properties for sale here at unbelievable prices that you will find hard to resist. Your dream home away from home is within your grasp when you view the properties that Investment Homes Abroad can offer you. Our agents will help you every step of the way to make sure you are completely satisfied.

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