Overview
The Italian Property Market
An increasing number of foreign nationals have taken to purchasing real estate in Italy over the course of the past fifteen years. The increase in real estate purchases in Italy by foreign nationals really took off following the integration of Europe into the EU. With the advent of the European Union, more and more foreign nationals began purchasing different types of real estate within Italy. This included commercial, residential and speculative investment purchases by foreign nationals.
The vast majority of foreign nationals who have taken to purchasing and owning real estate in Italy are from within one or another of the European Union nations. With that said, British investors have been particularly active in buying and investing in real estate in Italy during the past five to ten years.
The prime real estate purchases in Italy by foreign nationals in recent years have been concentrated fairly heavily in rural regions of the country
Investment Property in Italy
As with the other nations that are members of the Europe
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an Union, Italy has seen a growth in the number of foreign nationals making real estate purchases within that country since the inception of the EU. The common marketplace that was formed with the development of the EU is deemed to be the primary reason as to why there is so much activity in the arena of real estate buying and selling in EU nations such as Italy.
A significant amount of the movement in regard to real estate in Italy involves the buying and selling of property for investment purposes. A significant amount of activity when it comes to investment real estate has involved two primary types of property: commercial or industrial property as well multi-family properties that are used for residential and vacation purposes.
There are no real restrictions on foreign nationals purchasing real estate in Italy beyond a bit higher purchase registration tax that will be discussed later. This holds true for investment real estate as well as other types of real property in Italy.
Residential Real Estate in Italy – Single Family Properties
The biggest rush of selling when it comes to residential property has occurred outside some of the major cities in Rome. Many foreign nationals have involved themselves in this particular buying spree. Indeed, particularly people from the EU have actively made the purchase of homes and villas in rural areas of Italy to be used as second homes.
These people maintain that they are attracted to the easy going and relaxing lifestyle of life in rural Italy. (There have been some motion pictures in recent years set in such environments that many real estate experts in Italy maintain have further spurred the sales of rural residences in the Italian countryside.)
Residential Real Estate in Italy – Apartments in Italy
When it comes to finding private residences in the larger cities in Italy, apartments remain one of the most popular types of residential property bought and sold in the 21st century. Take for example the city of Rome. Apartments remain one of the most often conveyed forms of real property within the Italian capital city. (Of course, the limited amount of living space and the ever growing population of Rome have combined to make apartments invaluable residential assets in that city.)
Many foreign nationals have invested in apartments in the more major Roman cities over the course of the past decade for two primary reasons. First, these apartments are allowing these foreign nationals a second and oftentimes more affordable residence in one or another of the Roman major cities for their own purposes. Second, many people from other nations are making the purchase of these apartments in the larger cities in Italy to then be let or rented to other individuals.