Buying property in Italy
From the towering snow-capped peaks and glistening lakes in the north to the ancient sun-bleached south, Italy is a popular destination for those dreaming of starting their own journey to la dolce vita. Our property buying guide is packed with information and resources to support you on your property journey, including:
- Important considerations when buying a property in Italy
- Information on navigating local taxes, visas and other regulations
- A handy checklist for ensuring you’re on track
- Lots of other little tips to support your dream move
Why buy property in Italy?
Italy is synonymous with rich culture, timeless beauty, and the joy of everyday living. From rolling Tuscan hills to lively coastal towns, it’s easy to fall for its charm. Buy a home here and enjoy fresh pasta, local markets, and long, relaxed lunches under the sun.
Laid-back lifestyle
The popular Italian saying il dolce far niente (the sweetness of doing nothing) perfectly captures what life is like here.
Lower cost-of-living
Ever imagined that owning a palazzo could be within your budget? Whether it’s the price of property or a plate of pasta, Italy is generally cheaper than the UK.
Accessibility
Italy is served by several international airports across the country, many of which offer regular low-cost flights to and from the UK.
Can UK residents buy property in Italy?
Few restrictions for non-residents: UK citizens can buy property in Italy even if they’re not residents.
Buying property after Brexit: Post-Brexit, not much has changed when it comes to buying. However, if you want to stay for more than 90 days in any 180-day period, you’ll need to apply for a visa.
Legal and financial checks: To keep things smooth and hassle-free, it’s a good idea to work with a local lawyer and a currency specialist, helping you avoid surprises and get the best value from your transfer.
What kind of VISA will I need?
UK citizens can stay in Italy up to 90 days visa-free; if you want to stay longer, you’ll usually need a national visa and residence permit.
Elective Residence Visa: Popular with retirees, this visa requires proof of substantial and stable income, such as pensions or investments, but not from any form of work.
Work Visa: If you’re relocating to Italy for a job or planning to work while living there, you’ll need a Work Visa. This typically requires a job offer from an Italian employer and approval from the immigration authorities before you arrive.
Investor Visa: Italy’s Investor Visa, also known as its ‘Golden Visa’, offers residency in exchange for a substantial investment in areas like government bonds, businesses, startups, or philanthropic projects.
The information provided is for general information purposes and does not constitute legal, tax or other professional advice from Lumon, and it is not intended as a substitute for obtaining advice. it is recommended you seek professional advice from a financial advisor or any other professional.
Where to buy property in Italy
Milan
Famous for big business and high fashion, this fast-paced city provides plenty of opportunities to work and shop until you drop.
Turin
This elegant city, with its tree-lined boulevards and art-nouveau cafes, is fringed by the towering Alps.
Bologna
This vibrant, historic city is proudly considered Italy’s food capital – high praise in a country with such gastronomic pedigree.
Florence
Stroll the romantic, cobbled streets of the cradle of the Renaissance and you’re walking in the footsteps of Michelangelo.
Rome
The nation’s capital is steeped in ancient history, earning it the nickname the Eternal City.
Currency exchange considerations for UK buyers
At Lumon, we’re here to simplify the currency side of your property purchase, helping you transfer funds overseas with ease.
How exchange rates could affect your property budget
Exchange rates fluctuate constantly, so even small changes can affect your budget. Your currency specialist is here with real-time insights to help you make informed transfer decisions.
Helping you make overseas property payments easy
We have a range of transfer options, including forward contracts, to suit your needs and where you are in your Italian property journey.
Planning for costs when buying property in Italy
Our buying guide for Italy goes into depth about how to buy property there and what to factor in, including:
Set a realistic budget: Work out what you can comfortably spend. Don’t forget to factor in Italian fees, taxes, legal costs, and currency exchange.
Understand local costs: Buying costs in Italy can vary depending on the region and whether you’re using a mortgage. Knowing what rules apply to you will help avoid surprises later.
Have your deposit ready: Once you find the right place, you’ll often need to pay a reservation deposit quickly. Having funds ready, in euros, puts you in a strong position.
Frequently asked questions
Is buying property in Italy a good investment?
It can be, especially in high-demand areas like Rome and Milan, where there’s potential for long-term value growth and rental income. But like any investment, it’s important to research the local market, tax rules, and currency factors before you commit.
Can I buy property in Italy as a non resident?
Yes, UK citizens can buy property in Italy without needing to be residents. The steps and regulations behind your property buying journey will differ however, and if you plan to stay long-term, you’ll need to explore visa options post-Brexit.
Is UK stamp duty due on Italian property?
No, UK stamp duty only applies to properties in the UK. However, Italy has its own buying costs, including property registration tax, legal fees, and notary charges. Be sure to budget extra funds on top of the purchase price.
Do I have to declare a Italian property to HMRC?
You don’t need to declare the property itself, but you do need to report any rental income or gains if you sell it. These may be taxed in both Italy and the UK, so speaking with a tax adviser can help ensure you’re covered under any double taxation agreements.
How can I reduce UK tax on my Italian property?
If you’re a UK tax resident, you’ll still pay tax on overseas income or profits. That said, you may be able to reduce your liability through allowances or the UK-Italy double tax treaty. A qualified tax adviser can help you navigate the rules.
Can I get a mortgage to buy property in Italy?
Yes, either through a UK-based specialist or a Italian bank. Italian lenders may offer rates tailored to the local market, but you’ll need to meet their criteria. Just keep in mind that if your income is in pounds and your mortgage is in euros, currency shifts can affect your repayments.
The step-by-step process of buying property in Italy
1. Search for a property
Explore different areas and work with a local estate agent to find the right home for your needs.
2. Arrange your finances
Secure a mortgage if needed. Italian banks typically require a deposit of 20–30%.
3. Appoint legal support
Hire a solicitor (a
\vocato) to guide you through the legal process, and a notary (notario) to oversee the official transfer.
4. Make an offer and sign the preliminary contract
Once you agree on a property, you’ll make an offer and sign a preliminary contract (compromesso), usually with a deposit.
5. Transfer your funds and complete the purchase
Sign the final deed of sale (rogito) at the notary’s office, register the property, and arrange your utilities.
Working with Lumon – your trusted currency partner
Our team of currency specialists have the local market knowledge to help you navigate the process of buying a property in Italy. With over 25 years of international property experience, we’re here to help make the process hassle-free.
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Your property buying guide
Our property buying guide is packed with information and resources to support you on your property journey, including:
- Important considerations when buying a property in Italy
- Information on navigating local taxes, visas and other regulations
- A handy checklist for ensuring you’re on track
- Lots of other little tips to support your dream move
