These articles are your go-to resource for comprehensive advice on buying a home or moving to Italy, featuring general advice, engaging Q&A sessions with our former clients, and general advice.

Ferragosto in Italy: A Time of Celebration

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Ferragosto in Italy is a time of joyous festivities and a well-deserved break from the daily grind. This cherished holiday, deeply rooted in history, has become an integral part of Italian culture. As the country gears up to celebrate Ferragosto, let’s explore the traditions, closures of public offices, and how this holiday impacts services, including cross-border property transactions and inheritance matters in Italy.

A Brief History of Ferragosto

Ferragosto traces its roots back to ancient Rome when the Emperor Augustus established a festival called “Feriae Augusti” in 18 BC. The event was celebrated to honor the gods and allowed the hardworking citizens to take a much-needed break from their daily toils during the hot summer months. Over the centuries, the festival evolved and became linked to the Catholic holiday of the Assumption of Mary, which falls on August 15th.

Celebrations and Traditions

In modern times, Ferragosto is a time of merriment, relaxation, and togetherness for Italians. Families and friends gather to enjoy sumptuous feasts filled with traditional dishes which often vary across different regions. Many towns and cities organize lively parades, music festivals, and firework displays to mark the occasion. Beaches, parks, and public spaces are filled with laughter and cheer as people take advantage of the warm weather and spend time outdoors.

Public Offices and Services

During the Ferragosto period, which typically extends from the 15th of August (the day of Ferragosto) to the end of the month, Italy adopts a more laid-back approach to work. Many public offices, including government agencies and local municipalities, close their doors for a week or even two. The Italian culture deeply ingrains this custom, passing it down through generations, reflecting the importance of taking time off to recharge and enjoy life’s pleasures.

August: Italy’s Main Holiday Season

It’s important to note that Ferragosto is not an isolated event but part of a broader tradition in Italy. Italians generally consider August as the main holiday season. As the weather reaches its peak, most of the country takes advantage of the opportunity to go on vacation. Whether it’s a trip to the picturesque Italian countryside, a coastal retreat along the Amalfi coast, or exploring the historical treasures of Rome, many Italians use this time to escape the bustling cities and embrace a slower pace of life.

Impact on Property Transactions and Inheritance Matters

For those dealing with cross-border property transactions or inheritance matters in Italy, it’s crucial to be mindful of the Ferragosto holiday and the overall August slowdown. Public services, including government offices and legal institutions, might experience reduced operating hours or complete closures during this period. As a result, there may be delays in processing paperwork, obtaining necessary documents, or receiving responses to inquiries.

 

Happy Ferragosto from De Tullio Law Firm.

Best places to live in Italy: Top 5 cities

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Italian cities with the highest quality of life

The well-known business newspaper “Il Sole 24 Ore” has been studying the quality of life in Italian cities and provinces every year since 1991.

The study’s 90 indicators are grouped into six macro categories: Prosperity & Consumption, Economy & Employment, Justice & Security, Demographic Development, Environment & Services, and Culture & Leisure. In this article we cover the best places to live in Italy according to the 2022 data. 

Best places to live in Italy

These are the top five Italian cities with the highest quality of life in 2022:

1. Bologna

The fifth time on the winner’s podium, the capital of Emilia-Romagna scores in many respects, especially in education, healthcare and innovation. One of Europe’s top universities is located here. And with a population of about 390,000, Bologna is definitely a (small) big city with corresponding cultural and recreational offerings, but without the chaos of the metropolises of Rome and Milan. The only minus point: in terms of safety, Bologna only occupies one of the lower ranks, even though it has caught up somewhat in this regard over the past year.

2. Bolzano

South Tyrol’s beautiful capital regularly occupies one of the first places, thanks to top marks in pretty much all categories. In addition, there is the tremendous recreational appeal due to its geographic location. Overall, as in previous years, the provinces of the Trentino-Alto Adige region are among the top performers in terms of quality of life.

3. & 4. Florence and Siena

Undisputedly two of the most beautiful cities in the world. But also in terms of quality of life, Florence and Siena stand out.

To the surprise of many, Florence has clearly made up ground recently. Since 2003, the city had no longer occupied one of the top ranks. Together with Pisa (10th place), Florence and Siena make Tuscany a particularly interesting region for people looking to buy real estate. Florence occupies first place for culture and leisure, and sixth place for its environment, while Siena ranks fourth and second, respectively. Florence fares worst in the area of security and crime prevention. Siena does much better here, but is further behind in the economy and employment category.

5. Trento

The largest city in the Trentino-Alto Adige region impresses with its enormous recreational value. And not only thanks to the Dolomites right on its doorstep. There is a particularly rich range of sports opportunities here, as well as a strong presence of start-up companies so that Trento ranks second nationally in this category behind the economic metropolis of Milan.

Finally

Although these are considered some of the best places to live in Italy, the country’s rich heritage, magnificent buildings, cities steeped in history and regions with landscapes are as sublime as they are varied. One could say there is no ‘bad’ place to live n Italy.

However, to non-professionals, Italian legal matters when investing in a propert in Italy can be confusing and scary. Get in touch with us to arrange your FREE consultation in your chosen language at a time to suit you.

Whether you need assistance with your property project in Italy or you need to arrange an inheritance, the team at De Tullio Law Firm will help you understand the processes and the pitfalls. Let us answer your questions and remove the worry of making costly and time consuming mistakes.

For over 55 years, we have been providing legal services to clients at an international and local level, gaining an enviable reputation for quality, expertise, and professionalism.

Real Estate in Italy: 2023 Opportunities

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How much does it cost to buy real estate in Italy?

The average price of buying real estate in Italy ranges from EUR 1,929 to EUR 2,520 per square meter.

Italian real estate prices are higher in the larger cities, especially Milan and Rome. In Milan, the average price of residential property in October 2022 was EUR 3,994 per square meter.

Homes in southern Italian cities are much more affordable, with prices per square meter ranging from EUR 1,300 to EUR 1,700.

An overview of the development of the Italian real estate market

The ISTAT House Price Index (HPI) measures the evolution of market prices of all residential properties purchased by households (apartments, single-family houses, terraced houses, etc.), both new and existing properties, whether purchased for owner-occupation or as an investment.

According to ISTAT HPI data for 2022, Italian housing prices experienced a significant recovery in the first quarter of 2022. This recovery started before the COVID pandemic in 2020,but has stalled recently.

Although prices are still only at mid-2013 levels and far from the 2011 peak, homeowners are earning a good return on the price they paid.

ISTAT HOUSE PRICE INDEX (HPI) Q1 2010 – Q3 2022 (Index, 2010=100) (a)

(a) The choice of 2010 as the base year is entirely due to graphical reasons. The data for Q3 2022 are preliminary.

The increase was driven by new home prices, which rose 5%, albeit at a slightly slower pace than in the previous quarter (Q4 2021) (5.3%), while the recovery for existing homes was slightly slower.

The number of homes sold increased by 12% compared to 2021. Preliminary estimates indicate that HPI decreased 1.0% in Q3 2022 compared to Q2 2022 and increased 3.0% compared to the same quarter in 2021.

On average, home prices increased 4.2% in the first three quarters of 2022 compared to the same period in 2021, with new home prices increasing 6.6% and existing home prices increasing 3.7%.

Signs of weakness in 2023 create potential opportunities for investors in the real estate market in Italy.

Real estate prices in Italy still remain some of the lowest among European Union member states – despite the price recovery since the 2020 slump related to the COVID 19 crisis.

Uncertainty about inflation as a result of the war between Russia and Ukraine, the deterioration in household purchasing power, the steady rise in energy prices and construction materials and costs, and the ECB’s quite aggressive interest rate policy are just some of the challenges facing investors. Some analysts believe that Italy’s HPI could see a modest increase in 2023. Other analysts predict that house prices could fall. None expect a house price crash. Analysts’ predictions about the real estate market can be wrong. Before investing, you should always do your own research.

If you want to buy, build or renovate a property in Italy, there’s a great deal of paperwork involved. Many real estate buyers from abroad are not familiar with the technical and legal aspects of this process.

Investing in a property in any country is a major financial undertaking for most people, and it is crucial that your investment is secured. Just as you would seek professional help in your own country, it is also important to seek professional help in Italy. An experienced Italian real estate lawyer has contacts with trusted, independent experts such as surveyors, architects and contractors, and can advise and guide you through your real estate project.

Finally …

As a general rule, it is wise to familiarise yourself with the legal framework regulating international property sales.

For over 55 years, De Tullio Law Firm has been providing international clients with independent legal advice throughout Italy. We are specialists in cross border property, inheritance and family law.

If you would like further information about buying an Italian property, we are here to help. We can guide you through the whole process or even organise the whole process on your behalf. Get in touch with us for a Free preliminary consultation.

Property in Italy. Advice for Buying, Renovating And Selling.

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When buying a property in Italy, it’s essential to think about the long-term consequences. Do your due diligence and follow all legal protocols to avoid potential problems.

We thank our clients who agreed to share their experience of buying, renovating, and selling property in Italy. Their responses provide valuable insights for anyone considering an Italian property investment.

What attracted you to buy property in Italy?

“We didn’t initially intend to buy a property in Italy…

We were invited to stay with friends who had a house in a small Italian village. We saw a house in the same village that had been empty for about 16 years and just decided to buy it! We contacted the owners and one of them showed us around the property. We wanted to use the property as a shared holiday home for the four of us, who are friends. Although the house needed a lot of work, we thought it could be a fun project. “

 Our Advice?

  1. We would advise that before making any decisions about purchasing a property, it is important to thoroughly research the local real estate market and understand the costs and legal requirements involved in buying and owning property in Italy.
  2. Online advice can sometimes be misleading or even incorrect. It would be wise to consult with an experienced real estate agent and a lawyer, as well as a contractor who can provide an estimate for any necessary repairs or renovations.
  3. Additionally, if you are planning to buy property as a shared venture, it would be a good idea to discuss and establish a plan for managing and maintaining the property among friends.
  4. It’s also important to consider the long-term plan for the property, such as what to do with it when no one is using it.
  5. Ultimately, it’s important to weigh all the factors and determine if the project is financially and logistically feasible before proceeding with the purchase.

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Can you tell us how you bought your property in Italy?

“The purchasing process was hit and miss… 

We were put in touch with people by the friends we had stayed with. However we quickly found that translation was a big issue. The estate agent proceeded to put us in touch with a notary who insisted we understand everything. Our entire property purchase team consisted of the Estate agent, property a consultant the notary and translators. We did not engage a lawyer.”

Our Advice?

  1. Prioritise finding a real estate agent or a property consultant who is fluent in the same language as you to avoid any confusion or misunderstandings. Be aware that real estate agents facilitate the search for an Italian property. However, Italian real estate agents have no legal obligation to undertake searches of a technical or legal nature (due diligence).
  2. Engage a lawyer who speaks your language and can guide you through the whole legal process, ensure your rights are protected and review all the necessary documentation.
  3. International clients are often confused about the role of an Italian Notary. There is a mistaken belief that a public notary (notaio) performs the same function as a lawyer, solicitor or attorney (avvocato). This is not the case. Italian notaries act on behalf of the Italian State whereas a lawyer, is someone you engage to act exclusively on your behalf in a legal matter.
  4. Have a clear plan of how to communicate with your team in Italy in order to ensure everyone is on the same page and to avoid any confusion.
  5. Make sure to ask for clarification and confirmation of any important information or details that you don’t understand.
  6. Take your time with the process and don’t rush into any decisions. Make sure you fully understand all the terms and conditions before proceeding.

Did you buy the property alone or with others?

“The purchasing process was quite complex..

We are 2 couples and we came to a friendly agreement to have all names in the deed of sale. All owned a quarter each. All decisions had to be unanimously decided by all four. We found the overall purchasing process different to the UK. Quite complex and it took roughly 9 or 10 months to complete.”

Our Advice?

  1. Prioritise communication and organisation among the co-buyers. Having a clear plan and decision-making process in place will help ensure that the process runs smoothly.
  2. Research and understand the legal requirements and procedures involved in buying property in Italy. The laws and regulations of Italy vary significantly from other countries. It’s important to be aware of them before signing any paperwork. You can read more about this here.
  3. Consult with a local lawyer who has experience in property transactions in Italy. This will ensure that all legal requirements are met and that parties’ rights are protected.
  4. Be prepared for the process to take longer than you might expect. It’s important to be patient and allow enough time to complete all the necessary steps.
  5. Make sure to keep accurate records of all transactions, agreements, and communications throughout the process to avoid any potential misunderstandings or disputes among the group.
  6. Keep in mind that buying a property as a group can be challenging, especially if all decisions have to be made unanimously. It’s important to have open and honest communication, and to be willing to compromise when necessary.
  7. Prepare for unexpected costs and have a contingency plan in place.

Did you undertake any renovations once you owned the property in Italy?

“The house was in need of complete renovation…

The property had no certificate of habitability. Someone in the village recommended a geometra who organised the renovation with local builders. The geometra didn’t speak English but his daughter was a solicitor who translated everything for us. At the time we believed all the planning permissions and paperwork had been taken care of. However when we came to sell the property we found out that was not the case…”

Our Advice?

Buying and renovating a property in Italy is a common scenario. It is also a common scenario for these projects to end in heartache. Unfortunately, we often don’t meet these buyers until after they have purchased a property. They have usually spent way more than expected and then need help to fix problems. Overall, it’s important to be well-informed, organised, and to work with professionals who have experience of renovations in Italy. This will ensure that the renovation process goes smoothly and that you are later able to sell the property without any issues.

  1. Be sure to obtain certificates of habitability and energy efficiency when buying an Italian property. If the property does not have either certificate, make sure you understand the long term implications of this.
  2. Prioritise obtaining all necessary planning permits, licenses, and approvals before starting any renovation work. It’s important to be aware of all the legal requirements and regulations and to make sure that the work is in compliance with them.
  3. Work with reputable and licensed contractors and tradespeople, who are familiar with regulations and have experience with the type of work you need.
  4. Engage a lawyer to draw up a detailed contract with the contractor. A lawyer can also help you understand and communicate with the geometra and other professionals involved in the renovation process, if you don’t speak Italian.
  5. Keep accurate records of all agreements, invoices, and receipts.
  6. When buying a property in need of complete renovation, it’s important to have a realistic budget. Additionally you should plan a contingency for unexpected costs.
  7. Prepare for unexpected issues to arise during the renovation process and have a plan in place for how to address them.

What made you decide to sell your property in Italy?

“We decided to sell the property… 

We had planned to spend more time but personal circumstances at home didn’t allow it. For numerous reasons. The covid pandemic didn’t help. When we were there, there was always lots of work to do in the garden and the house. It was fun going but it never felt like a holiday. Getting older, we did not want to risk creating problems for our children in the future should something happen to us. After owning the property for 15 years we decided it was time to sell it.”

Our Advice?

  1. If you’re buying or already own a property in Italy, it’s important to plan ahead for its future ownership. Estate planning is an ongoing process that should be reviewed and updated as your family and circumstances change. Failing to take the right steps can lead to family disputes and complications after your death. Consider consulting a lawyer for guidance on how to best manage your Italian property.
  2. When considering selling, a lawyer can ensure that all necessary legal paperwork and permits are in order before listing the property, which will speed up the sales process and increase opportunities to reach prospective buyers.

Can you tell us about the sales process of your property in Italy?

“The property sales process was straightforward. 

When it came to the sale of the property, on a friend’s recommendation, we engaged De Tullio Law Firm. We gave De Tullio Law Firm power of attorney. The team were able to do everything for us. The overall process took about a year because when preparing the listing, De Tullio Law Firm discovered missing permits, certificates, etc… We then needed to acquire retroactive planning permission, which took a few months. Once all the documentation was complete and correct, the house sold very quickly”.

Our Advice?

  1. Selling your Italian property can be a complex and time-consuming process. To ensure a smooth and successful sale, prepare and organise all the necessary legal documents and paperwork before listing it.
  2. Paperwork includes the title deeds, land registry entries, building permits, certificate of habitability,  energy performance certificate (APE) and a certificate of urban destination (CDU). Having these documents readily available will speed up the sales process and increase the property’s appeal to potential buyers.
  3. To make this process easier, it is advisable to seek the assistance of a lawyer who is familiar with the Italian property market and regulations. Your lawyer can provide a pre-sales service to ensure that all the paperwork is in order before listing the property for sale. This can also include handling the marketing of the property and representing you if you are unable to travel or make multiple trips to Italy.
“The overall experience of buying and owning a property in Italy was a life changer. Overcoming legal challenges and completing renovations led to amazing times at the house. We had great neighbours, friends, and support from the village. Our property partners were fantastic, discussing everything and sharing 15 memorable years with us. 
If anyone is considering doing a similar project, I would say just follow your heart. As long as you take the sound advice by De Tullio Law firm, you will be well guided throughout the process. “

Finally …

De Tullio Law Firm is your go-to for expert guidance and support when buying, owning, or selling Italian property. We have over 55 years of experience in Italian and cross-border property, family, and inheritance matters. Our team provides comprehensive and personalised service to ensure your property transaction runs smoothly.

Trust us to handle the legal complexities and help you navigate the often-challenging Italian property market. Contact us today to schedule a free preliminary consultation.

 

You may also be interested in our Guide to Building And Renovating Property in Italy.

You might also like our info videos about Italian property, succession and family law.