Italians Raise Apartment Prices - Where It is Now Profitable to Buy Real Estate.

Italy continues to attract foreign buyers through its natural beauty, architecture, cuisine, climate, and affordable real estate in many regions. The real estate market demonstrates stable growth - prices for secondary housing have increased by 2.8%, while new builds have risen by 8.8% according to the Italian National Institute of Statistics (ISTAT).

The most expensive cities remain Milan and Rome, but in depressed regions like Sicily, more affordable options can be found. Demand is shifting towards energy-efficient housing and logistical facilities due to global trends towards sustainable development.

How Foreigners Can Buy Real Estate in Italy

Buying real estate in Italy for foreigners is a clearly structured process that requires preparation. One needs to obtain a codice fiscale, open a bank account, undergo a legal check of the property, and sign preliminary and main contracts.

Mortgage for Foreigners

Foreigners can obtain a mortgage, but terms are stricter: maximum rates of 3-4% and shorter terms of 15-20 years. Annual costs for insurance and notary services also need to be taken into account.

Taxes and Expenses: What to Prepare For

Buying real estate in Italy is accompanied by a number of taxes and fees, which amount to 7-12% of the property's value. For property ownership, one must pay annual taxes: IMU, TASI, TARI. Investments in housing remain an important trend in Italy, where demand is expected to grow.

What Else Ukrainians Should Know

Italy hides a true gem for those seeking sun and exquisite cuisine. It is also important to know that Italian regions are tightening measures against tourists in swimsuits outside beach zones, introducing fines for violations.

In Italy, there is a stable increase in property prices, with Milan and Rome remaining the most expensive cities for purchases. However, more affordable options can be found in less popular regions such as Sicily. Foreigners must be prepared for strict terms when obtaining a mortgage and for taxes and fees when purchasing real estate.