About 32,000 international students attend universities in Italy. Rome, Milan, Pisa and Bologna are the most popular cities among students. Italian academies for fine arts, fashion and design are considered the best in the world.
It costs about 1–3% of the market value per year to maintain real estate, pay taxes, utility bills and insurance costs in Italy.
Italy’s tax system is complicated and buyers should seek advice from an expert before purchasing real estate.
In Italy, mortgages are granted for pending constructions, existing property and renovations. Banks impose more stringent requirements on foreign citizens regarding the assessment of the mortgaged property. Therefore, foreign nationals are more likely to be granted a mortgage on high-end, liquid property.
There are no restrictions on foreign citizens purchasing property in Italy. A transaction can be made on behalf of legal entities or individuals. Buyers should know that things in the north and south of Italy don’t necessarily work the same way.
Italy is rolling out a new
The walls of these properties have witnessed historic political discussions, romantic intrigue and some of the most extravagant social gatherings over the past five hundred years.
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Two years ago, Italian property was well within the budget of Russian buyers but the crisis has taken its toll on their wealth and Italy’s real estate recovery.
Foreign buyers in Italy choose different homes depending on their nationality. This article investigates the best places to buy and sell property to international second home buyers in 2016.
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A more robust economy and falling unemployment in the European Union, along with cheap mortgages has increased demand for property, leading to price overall growth.
Sluggish economic growth, geopolitical strife and a spate of currency devaluations have seen increasing levels of capital flight from fragile states.
Most overseas property buyers are over 55 and already planning real estate succession before they sign the sales contract.