3. What additional costs can be expected?

  • 2 months ago
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There are usually three items that are incurred by the buyer of a property:

a. Land transfer tax

The land transfer tax for residential properties is 9% of the cadastral value for a second home and 2% of the cadastral value for a first home. The cadastral value usually corresponds to between 15-35%* of the market price, depending on the municipality, number of rooms, condition of the property, etc.
Land is taxed at a rate of 9-15%. The calculation basis here is the market value, which can vary greatly depending on the municipality, location and type of property.

However, the land transfer tax is always at least 1,000 euros plus 50 euros mortgage tax and 50 euros cadastral tax.

Example*
A house with a garden and a market value of 200,000 euros has a cadastral value of 40,000 euros. The taxes for the house are therefore around 3,600 euros.
In addition, there are taxes for the neighboring garden, which is estimated to be worth 20,000 euros and is generally taxed at 9%, i.e. 1,800 euros. If the land is an agricultural land, it is taxed at 15%, so you would end up with 3,000 euros – in exceptional cases it can be less, provided that the very low cadastral value can be taxed.

b. Fee for notary and translations

As a rule, the fee for notarisation is approx. 1% of the purchase price, for cheaper properties approx. 1.5%*, for expensive properties approx. 0.8%. In addition, there are around 1000-1500 euros* for the translation of the contract including all appendices, the presence of the translator and witnesses at the notarised contract, if a bilingual contract is required due to a lack of language skills.

c. Agency commission

When we have found the right house for you, our commission is 3% plus VAT (IVA in Italy 22%) on the negotiated purchase price – and is therefore at the lower end of the commission usually charged in Italy. For properties under 100,000 euros, we charge a minimum commission of 3,000 euros + IVA. The first half of the commission is due upon conclusion of the preliminary contract, the second half only upon conclusion of the main contract.

* without guarantee and subject to legal changes

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