Italy Mortgage
Italian property mortgages are generally readily available and your legal adviser can provide Italy mortgage information. Nationals from the EU, Canada and the US are usually eligible for mortgages for Italian homes, subject to approval, and Italian mortgages are obtainable from a variety of sources including Italian and foreign banks.
If you are buying Italy property, the following is useful information on Italy mortgages: interest rates are linked to the Euribor (currently under 6%) and non-resident Italian property investors are eligible for loans of 80% over a period of 40 years. Higher loans and longer terms may be available for certain Italian real estate depending on the lender.
Italy Tax
The purchase process for Italy land and property may be different from what you are used to and independent legal advice is essential. Your legal adviser will be able to offer up-to-date Italy tax information when you are buying Italy properties. Expect to pay at least 8% of the purchase price in taxes and fees when buying Italian homes.
Italian property buyers need a fiscal number and there are also local and state taxes for homeowners to take into consideration, although those buying Italy investment property, who own their Italian property for more than 5 years are exempt from capital gains tax. For further Italy tax and ownership information, download the Italy Property Investment Guide.
