Euro: Strong against US $. Living costs are lower than northern Europe and vary from the North to the South, which is cheaper. City costs are equivalent to the U.K.

Economic climate: Overseas investment is encouraged and the Italian economy has been vibrant in the past decade.

Taxes: VAT on new properties is 9% (Standard home) and 19% (luxury home). Community Tax is 0.4% to 0.7% (decided by the Local Authority).

Popular areas: Diverse mountains, lakeland and rural. Favored areas are Tuscany, Umbria, Lombardy and Liguria, the islands Sardinia and Capri and the Italian Riviera.

Price ranges: Property prices are lower in southern Italy which is poorer and much more arid. Whereas Lake Garda and historic cities like Venice are very expensive.

Budgetary guide: Apartment (City): E’s 426,000, Apartment (Tuscany): E’s 98,000, Rural house: E’s74, 500. Apartment (starting): E’s 29,000, Renovation: E’s 25,500.

Overseas Investors: Purchasing property in Italy is a process to which a prospective investor will need to devote a significant amount of time. A good working knowledge of the associated pitfalls is definitely worth acquiring.

Service Fees: Transfer charge: 3% Registration Tax/Stamp Duty: 4% (1st time buyer), 10% (Town), 17% (Agricultural), Notary Fees 4%, Legal Fees 2%, Agency fee 2% (buyers portion)

Mortgages: Most Italian banks will offer mortgages up to 15 years of between 50 to 60% (75% if a 1st home) Overseas mortgages offer up to 80% and reduce tax exposure.



 Related site: http://themovechannel.com