FAQs For Italian Properties
Q; Freehold – how does this work in Italy?
A; All apartments are freehold. This means the buyer owns their physical apartment
and share of land the building is built upon. Buyers will be granted full title.
Q; What Security is planned for the project?
A; There will be an access road, no gate, or on-site security staff. This is not required.
Q; Are there any advantages to being an EU citizen when considering this purchase
versus a US resident?”.
A; there a number of angles to this question; as far as the purchase is concerned the
answer is "no". However, the client may wish to consider two points 1. Their personal
tax position 2. Becoming an "Italian" resident which will make a difference to the overall
cost of purchase, which means they pay 4% tax instead of 10% IVA. However, it may
take 18 months to become a full citizen.
Q; Also what are the likely property /local /council taxes the owner would incur?
A; compared to the UK, annual property taxes are low; like the UK the figure is geared
to the size of the property. In the case of the apartments, budget a gross amount of
approx. €600 to €800 per annum should be comfortable. As soon as the property is
finished and an ICI tax assessment completed we will be able to confirm actual costs.
Q; What are the proposed service charges?
A; These will be set after completion but will be between €50 to €100 per month.
Q; On the final act, can owners occupy the apartment, or will the ensuing work on the
new blocks prevent this?
A; Yes, they can occupy and use the apartment. Safety paperwork will be granted by
final act.
Q; What is the target completion date of the whole project?
A; Early 2008.
Q; What swimming Pools are there?
A; There is one swimming pool and sun deck (with stunning views) each for Block D
and Block A. |
