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Buying Property in Italy – the process made simple

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Lucania will provide a hands-on personalised service. This includes liaising with a local notary and the owners of the property and ensuring all documentation is available in order to complete the sale, including property surveys and searches as necessary. Lucania Living will also offer general advice such as the best way of transferring funds at the time of completion. 

The basic buying process is relatively straightforward although bureaucracy can make it time consuming:

Fiscal Code required to purchase in Italy. Anyone wishing to buy an Italian property must first obtain a tax identification number (codice fiscale) from the Italian authorities. This can be done either through the Italian consulate in your own country, or, in the near-by town of Matera.

Lucania Living can also help you obtain your fiscal code: download our connections guide (PDF)

The three main buying stages.

  1. The Offer 'Offerta' The property buyer makes an offer, which commits him/her to buying the property at the given price.  Once the offer is accepted and the buyer notified of its acceptance, in strictly legal terms a contract already exists. If the seller accepts, a deposit 'Caparra' (usually 10%) is paid.
  2. The Preliminary Contract 'Compromesso di vendita' Both parties sign a legally binding buying proposal. This acts as a template for the Deed of Sale containing the same key elements: i.e. the identities of the buyer and the seller, a detailed definition of the property with Land Registry references, the price agreed, the terms of payment,  any special conditions and a time limit for completion. Lucania Living will prepare this contract for you, in Italian and English, with the aid of our legal consultant. Note: Should the seller withdraw, they must pay the property buyer double the value of the deposit. If the buyer pulls out, he/she loses the deposit
  3. The Deed of Sale 'Rogito' On completion, both parties sign the final contract (rogito) in the presence of a Public Notary who is an impartial public official, who then issues the deeds and informs the land registry to transfer ownership. The remainder of the balance, plus all taxes, must then be paid at this point
Special Power of Attorney is available for buyers that can't be present at the Deed of Sale.

The costs incurred by a buyer at time of purchase in addition to the agreed purchase price are:

  • Registration tax and catastal tax
  • The Notary’s fee

The exact amount of tax payable when you buy a property in Italy is calculated by the Public notary and varies according to the type of property, whether the seller is a private individual or a company, and whether the buyer is tax-resident in Italy or not.

In very broad terms, potential buyer should allow up to 10% on top of the agreed price to cover all legal and tax costs.

  • Connection costs for water and electrcity

Utility connection fees for water and electricity depend on the property. Where existing connections just need to be reactivated the cost can be as low as €150. If new connections are needed then the costs can rise to €2,500.

Download our connections guide (PDF) for indicative pricing

Running costs of your property will include:

  • Annual Tax, the Imposta Comunale sugli Immobili (ICI) is an annual council tax calculated on the value of the property. It is payable twice a year in June and December. Typically, properties in Irsina pay between €30 - €140 a year for this tax although this depends on the size of the property.
  • Rubbish tax is payable in four instalments or all at once if you prefer. Typically, properties in Irsina pay between €20 - €120 a year for this tax although this depends on the size of the property.
  • Utilities, electricity, water, gas, telephone based on consumption.
  • Accountant fees to calculate local taxes. Currently €50 per year for the Lucania Living local accountant.
  • Property Management fees if you aren't planning to live in Italy permanently and require assistance looking after the property in your absence. Prices are currently between €200 and €400 per year. Please refer to 'Property Management Services' for more details. (PDF)
Signing the contract
House Keys
Yay! Champers
Irsina street view