The Times: Chaz and Lucy’s Italian move, with expert advice from Giandomenico De Tullio

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“We moved to a farmhouse in Puglia for la dolce vita” is how The Times headlines the story of Chaz Oldham and Lucy Akhurst. They, the couple in the photograph, are an English couple who have chosen to make their new home in the heart of Italy, a five-bedroom farmhouse in the hills with 20 acres of land, 15 minutes’ drive from the sea and 8 minutes from Alberobello, famous for its thousand Unesco-listed trulli. This is an area already well visited by foreign tourists, especially the French, Swiss and Germans.

Chaz and Lucy’s Italian move, with expert advice from Giandomenico De Tullio

Full text of The Times’ article here: https://www.thetimes.com/article/53afb046-b3ac-4422-b7b0-02231a555480.

 

The Times article tells you their story, the proximity to the world of cinema, the moves, the inspirations, the farm in Devon, the dream of France but falling in love with Italy, and the purchase of the house with a huge roof terrace with a 360-degree view, which convinced him to buy. What truly stands out, however, is the financial potential of such a decision.

 

A brief aside on the prices of apartments in the area where Chaz and Lucy bought: at the time of their purchase (2020) the average price per square metre was €1,836, while today it is €2,374 (source: The Times), which highlights the value of investing in property in this region. Real estate in Italy, particularly in sought-after areas like Puglia, is not only a lifestyle choice but a sound financial strategy. With property values steadily increasing, the potential return on investment is significant.

 

Then there was the application to the Municipality of Monopoli for a building and renovation permit (obtained in just over a year), the hiring of Puglia Pools to build the swimming pool, the renovation of a wing of the house which – in 2025 – is estimated to yield between €1,800 and €2,400 per week. This demonstrates how renovating and renting out properties in Italy can generate consistent income, making it a lucrative option for those looking to invest in the real estate market. Moreover, the cost of living in Italy, where they now live, is a fraction of the UK, while the produce is fresh and km0.

The rise in property prices, coupled with the attractive rental market, shows why investing in Italian real estate, especially in regions like Puglia, is an excellent opportunity. You can find more insights at the end of The Times article, where we also provide tips for British citizens looking to purchase property and apply for residency in Italy. You can read them there or take advantage of our free preliminary consultation in the language of your choice. Click on this link to choose the time that suits you best or email us at info@detulliolawfirm.com.

 

 

To discuss your situation, get in touch for a free consultation, or click here to get all our FREE guides for foreigners planning to renoveting, buy, sell or live in Italy.

G7 Summit: Puglia Gears Up

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In November 2023, Italian Premier Giorgia Meloni confirmed the G7 leader’s summit in the region of Puglia. The gathering will take place from June 13 to 15, 2024. This globally significant event will be a defining moment in global diplomacy. In this blogpost, we look into the multifaceted aspects of the G7 summit. Not only will we explore the strategic significance of Puglia as the chosen host but we will also look at the venue where world leaders will convene. Additionally, we will uncover the profound symbolic importance that the G7  leader’s summit holds against the backdrop of a fast-changing geopolitical landscape.

Puglia’s Prestigious Role in The G7 Summit

Puglia, celebrated for its breathtaking landscapes, rich historical allure, and delicious cuisine, has been chosen to host the G7 summit. This decision stands as a compelling testament to the region’s escalating prominence on the international stage. Moreover, it underscores the growing recognition of Puglia’s significance in global affairs.

Situated in the southeastern part of Italy, Puglia has served as a geographical crossroads for centuries, where Eastern and Western civilizations meet. The decision to host the G7 summit here underscores a commitment to bridging divides and fostering global cooperation.

Puglia’s Historical Roots

Nestled on the Adriatic coast of Puglia, the ancient city of Egnazia stands as a testament to the region’s historical significance. Once a thriving Messapian center on the borders with Peucezia, this ancient city played a crucial role in connecting civilizations. Its port, in ancient times, served as a pivotal point along the Via Egnatia, a vital Roman road linking the Via Appia to the Adriatic and the Aegean and the Black Sea. This historical backdrop adds a layer of depth to the choice of Puglia as the host for the G7 summit, underscoring its longstanding position as a bridge between Occidental and Oriental civilizations.

Italian Prime Minister Giorgia Meloni’s choice of Puglia therefore carries profound symbolic significance. In selecting a region with such a rich history of cultural exchange, she is actively challenging the conventional narrative of a divided world. In choosing Puglia, she is emphasizing collaboration and unity, fostering an environment that aligns with the summit’s overarching themes of global cooperation.

The Strategic Choice

Holding the G7 summit in Puglia is a strategic choice for various reasons, showcasing the region’s importance in international diplomacy and cooperation.

Puglia’s location makes it an ideal meeting point for leaders from North America, Europe, and Asia. Its accessibility by sea and air ensures smooth logistics for the attending delegations. In addition, the selection underscores the region’s potential as a pivotal hub for investment, trade, and meaningful cultural exchange.

Shaping the G7 Summit Agenda

As the G7 summit approaches, expectations are mounting regarding topics of discussion. Prime Minister Giorgia Meloni has already set the tone with a specific focus on lower-income countries, collectively recognized as the Global South. This approach aims to reshape the narrative that often polarizes nations into the West and “the rest.”

Global Challenges

The agenda for the G7 summit in Puglia is poised to encompass a spectrum of crucial global challenges. Leaders are not only set to address pressing issues concerning the situation in Ukraine and the Middle East but they will also engage in discussions revolving around the adherence to international rules. The overarching aim is to ensure economic and energy security while fostering a more equitable partnership with Africa.

China’s Belt and Road Initiative

Moreover, the summit will proactively engage in implementing the Partnership for Global Infrastructure and Investment. This is a strategic response by the G7 to counter China’s Belt and Road Initiative (BRI). In a significant alignment with G7 objectives, Italy formally communicated its decision to China in December 2023, not to renew its membership in the BRI. This decisive action effectively terminates Italy’s status as the sole G7 member associated with the initiative.

In addition, the G7 anticipates discussions to refine strategies for de-risking and diversifying approaches in economic relations with China. This proactive stance underscores the commitment of the G7 leaders to address the evolving dynamics of international economic cooperation.

The G7 Summit Countdown Begins

The luxurious Borgo Egnazia resort, midway between Bari and Brindisi, on the Adriatic coast, will play host to world leaders and delegations for this momentous occasion.

Borgo Egnazia is popular with celebrities like Madonna and the Beckhams. This, coupled with the area’s historical roots, brings both glamour and cultural richness to the summit. The chosen venue reflects the significance and prestige of the G7 gathering.

Furthermore, Premier Meloni’s personal connection to Puglia is evident. Last summer, her family holidayed at a farmhouse in Ceglie Messapica, adding a level of intimacy to the event. Georgia Meloni is commited to showcasing not only the region’s diplomatic importance but also its natural beauty and cultural richness.

Finally …

Puglia is poised to host an event that goes far beyond diplomatic discussions. The G7 leader’s summit also signifies a celebration of the region’s diverse cultural, economic, and touristic potential.

If you’re considering buying real estate in Puglia, the specialized team at De Tullio Law Firm is ready to assist. We are experts in Italian property, inheritance, residence, and tax matters. Get in touch with us.

Buying real estate in Italy: De Tullio Law Firm Advice

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Buying basics: the Italian conveyancing process

In a previous contribution in The New York Times, De Tullio Law Firm focussed on buying real estate in Italy with particular focus on Rome.

This time, The New York Times explores purchasing property on the Ligurian Riviera.

Information that De Tullio Law Firm provided is however also relevant for the whole of Italy.

The New York Times includes information about legal and notarial fees and Italian property tax costs.

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“There are no restrictions on most foreigners buying real estate in Italy”, said Giandomenico De Tullio, a managing partner at the De Tullio Law Firm, which has offices in Italy and Britain.

“For complicated transactions and sales involving foreigners, it is a good idea to hire a bilingual lawyer as well”, said Mr. De Tullio, who estimated that a lawyer’s fee would be about 1 percent of the sales price. “In addition, there is a 22 percent value-added tax on both services”.

“The stamp duty is the buyer’s biggest closing cost, at 2 or 9 percent of the property’s assessed value, depending on whether it will be a primary residence or a second home”, Mr. De Tullio said. (“To get the primary-residence tax break, buyers must typically establish legal residence in the municipality within 18 months of buying the property”, he said.)

“Other closing costs include a building registry tax of 50 euros (about $62) and several other taxes and fees that add up to a few hundred euros. A rough estimate of closing costs on a 1 million euro property is around 30,000 euros (about $37,000)”, Mr. De Tullio said, but he added “that it can vary greatly.” Read the full article here.

Finally …

De Tullio Law Firm is an Italian property, inheritance and family law specialist. We have been assisting and guiding our clients with Italian investments for over 55 years. If you would like to discuss your investments in Italy, we are here to help. Please get in touch.

 

you may also be interested in Celebrating 55 years of De Tullio Law Firm

De Tullio International Law Firm

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De Tullio International Law Firm. Solid, strong, stable legal expertise

At De Tullio Law Firm we provide independent legal advice in all areas of the law. The majority of our work focuses on managing a wide range of Italian and cross border legal matters. We are specialists in property, family and inheritance law.

A passion for the law led us here

De Tullio Law Firm: Combined experience of 55 years

Giovanni De Tullio. Founding Partner at De Tullio Law Firm.

Giovanni De Tullio founded De Tullio Law Firm in 1965. In addition to being a lawyer, Giovanni was a notary (notaio) for over 30 years. As a result, Giovanni brings tremendous experience and knowledge of Italian legislation to the team. Whether clients are purchasing or selling a home, gifting a home to a child, making a will or incorporating a company in Italy, Giovanni’s understanding of the Italian State’s requirements is an invaluable resource.

Following in his father’s footsteps, Giandomenico De Tullio also became a lawyer.

Giandomenico De Tullio. Managing Partner.

After a decade working overseas at international legal firms, as well as at the European Commission, Giandomenico joined Giovanni at De Tullio Law Firm.

Aside from being a member of The Italian Bar Association, Giandomenico is also a full member of Society of Trusts and Estate Practitioners. STEP is the world’s leading professional body for practitioners in the fields of trusts, estates and related issues.

Giandomenico is also an active representative in a number of not-for-profit government organisations whose aim is to develop and promote economic and cultural relations.

Right beside you

Because we have over 55 years of experience providing independent legal advice, we understand that property investments, or planning inheritance is not just a complex legal journey but also a personal one.

Our knowledge of Italian and cross border property, family and inheritance law gives us unique insights into the processes involved. We pride ourselves on giving each of our clients the individual care that their case deserves.

Thanks to the dedication of our lawyers, associates and professional staff, we offer an extraordinarily high level of service, responsiveness and attention to detail.

De Tullio Law Firm. Serving clients worldwide

Clients include both individuals and companies seeking legal advice, support and services. Our multi-lingual team serves clients throughout Italy.

Finally …

Thank you for visiting our website. We hope you find the information useful. If there is anything you would like us to cover in an article or, if you would like to discuss a legal matter with us, please get in touch. We look forward to hearing from you.

Your Overseas Home Property Seminar

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Your Overseas Home Property events help people buy and move abroad safely

Property Guides and The Overseas Guides Company (OGC) regularly run Your Overseas Home Property seminars. These are free events to help people buy property and move abroad safely and risk-free.

Kim Brown founded OGC some 15 years ago. Kim’s parents had bought a home in Cyprus in 2004. However, without access to the right information and with some contacts who turned out to be untrustworthy, it sadly ended unhappily.

Get Your FREE Guide to Buying Property in Italy

Our PDF guide covers every aspect of the buying process so you're ready to purchase with confidence

Download now

Your Overseas Home Property seminars offer high-quality, carefully researched guidance

Seeing the impact on her parents, Kim was determined not to let this happen to anyone else – and so she set up OGC to provide high-quality, carefully researched guidance for anyone buying their dream home abroad.

Kim soon realised that in-depth information alone was just the first step.
“People also needed expert, trustworthy contacts to help them act on that information and turn their dream into reality. We now call these the ‘Golden Three’: your estate agent, your lawyer and your currency specialist”.

OGC has developed an extensive network of trustworthy experts across fourteen countries. They are all tried and tested to ensure the very best service.

Your Overseas Home Property Seminars started in 2017. Since then, a number of events have taken place around the UK. They have helped many people to buy safely overseas.

Expertise

Experts at the Your Overseas Home Property Seminar include leading Italian estate agents, currency, Italian law, finance and removals experts.

As well as seeing plenty of Italian homes, you have the time and opportunity to discuss your personal requirements and get advice on all aspects of buying a property in Italy.

Finally …

We have over 55 years of experience managing cross border property and inheritance matters throughout Italy. If you would like to discuss your personal situation but are unable to attend a Your Overseas Home event, why not get in touch with us today?

 

You may also be interested in our Guide To Buying Property in Italy.

De Tullio Law Firm in Fortune Italia Magazine

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De Tullio Law Firm and luxury real estate in Italy

In the April 2019 edition of Fortune Italia Magazine, De Tullio Law Firm contributed to a discussion about the state of the luxury real estate market in Italy.

A world apart

The luxury real estate market in Italy is booming – indifferent to market fluctuations. Who buys luxury properties and furnishings?

Italy’s Luxury real estate market sector “is less exposed than other property segments to economic conditions. The uniqueness of the Italian offer, which is inextricably linked to our architectural, landscape and cultural heritage, represents a strong element of attraction”, says Giandomenico De Tullio, Managing Partner at De Tullio Law Firm. The company provides legal services in the Italian luxury real estate market – mainly serving US and UK clients.

Italy’s luxury property market is particularly healthy. Compared to the same period in 2017, the first half of 2018 saw an increase of 26.73% in real estate transactions in excess of 900 thousand euros. Real estate of more than one million euros saw 1,028 properties sold compared to 865 in the previous year. This represents an increase of 18.84%.

De Tullio Law Firm: we are specialists for cross border property law throughout Italy

Generally, we are talking about properties that mainly appeal to international clients, which De Tullio calls, ‘High Net Worth Individuals’. ” This is a clientele with high expectations that demand high levels of competence and professionalism”.

Choosing a property

In the main, investors are foreign so they often need a guide. Perhaps they don’t know Italy very well, or are unfamiliar with the dynamics of its real estate market.

Lionard, is one of the most important players at national level in the luxury real estate sector. The company is involved in the buying and selling process. They have a real estate portfolio of 13.32 billion euros. The average value of real estate for sale is 5.01 million euros.

Lionard has bases in Florence, Milan and – soon – Rome.

The company currently represents 51% of Italian properties with a value of more than 3 million euros. “The real estate market historically follows the macro-economic trend of the world’s major markets,” says Ian Heath, real estate advisor at Lionard. “For this reason, the sector has also faced and suffered from the economic crisis over the past decade. However, the luxury real estate segment, in terms of the type of clientele and internationality of the audience it addresses, is able to offer growth beyond what is happening on a local economic level”.

A growth that Lionard capitalises on with satisfactory results. “In terms of real estate portfolio, we are the first real estate operator to have over 2,500 properties offered for sale directly by owners. With regards to the company’s balance sheet, we were the first among Italian luxury sector real estate operators, to achieve a turnover of over 9 million euros with an EBITDA of over 60%”. In 2018 alone, Lionard properties valued at 106.5 million euros changed hands.

Of course, to impact such a market, the right tools are a pre-requisite. In addition to the professionals who make up the team, “the pearl of the company is undoubtedly our management system. This is the primary national resource in terms of the luxury market in Italy”, says Heath. “We cross-reference the most in demand areas and the most desired types of property with current data. This provides our target audience with a survey of more than 45,000 properties nationwide. More than 2,500 of these are officially for sale. This helps the customer to form an independent idea of all the options available”.

The right decor

Once you have purchased a luxury home, you need equally luxurious furnishings. Pasquale Natuzzi Junior Says, “high-spending clientele is undoubtedly different. It is a group of consumers for whom it is necessary to transform the purchase into a unique experience.” Pasquale is creative director and stylist at Natuzzi.

The business started life in Puglia in the ’60s. It has since become one of the few Italian companies listed on Wall Street. Natuzzi totalled 449.6 million euros of turnover in 2017 and is present in 123 markets worldwide. Pasquale Natuzzi Senior, who is still company president, founded the company.

Natuzzi enjoys recognition as the “most famous lifestyle brand in the world in the premium furniture sector”.

And, according to Pasquale Junior has built its success, “thanks to our identity, our style and our product offering”.

In addition, the luxury consumer scene appreciates, “dealing with contexts where quality of service is everything. This is  especially relevant in our sector, where cooperation with customers can continue for several months. It is important to offer an experience that goes beyond a simple visit to the store: it is a relational investment that requires time, trust and competence”.

Harnessing this market sector naturally requires special business skills, which enable, “the customer to entrust the whole process to the company”. The shop team, according to the creative director, “is engaged in customer projects that can last well over six months”.

Success depends on the ability to transmit to the customer a dedication and professionalism, taking care of every aspect of the project. An approach that is only possible, “thanks to the continuous training and development of our sales staff, evolution of our collections and investments in our points of sale. In our stores we have reliable, well-prepared professionals, with a solid background in the design sector, perfectly able to interact with our clients, an architect or an interior designer. For highly sensitive projects, we also involve other professionals (colour experts, technicians specialised in 3D modelling, 3D, designers). Experts who can provide further support at the definition phase of a project”.

Finally… De Tullio Law Firm on Fortune Italia magazine

Please, contact De Tullio Law Firm for a free preliminary consultation if you would like to discuss your property purchase or you would like further information about our services.

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

You may also be interested in Buying Property in Italy

The New York Times. Reciprocal Legislation

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The New York Times: Nationals from some countries face restrictions when buying property in Italy

In a recent article about buying property in Italy, The New York Times interviewed De Tullio Law Firm about reciprocal legislation. “Because of reciprocal legislation, citizens of some countries face restrictions when buying real estate in Italy, but those from the United States, Canada, Britain and Australia are not among them”, said Giandomenico De Tullio, a partner at the De Tullio Law Firm.

What is the reciprocal legislation referred to in The New York Times?

Sovereign laws, set by individual countries, have always been applicable when it comes to property purchases. If you buy property in Australia for example, Australian laws are applicable. Likewise in Canada, the USA and elsewhere.

Australia, Canada, the USA and Italy are all members of the World Trade Organisation who have signed up to the General Agreement on Trade in Services (GATS). Commitments made by signatories allow nationals to purchase properties in each others’ countries. This is known as reciprocity. There are, therefore, no barriers regarding market access or treatment of foreign purchasers.

Reciprocal commitments within GATS establish a quid pro quo principle

Essentially, you can invest in Italy so long as your home country allows Italian nationals to invest there. In other words, ownership of real estate, establishment of companies, the acceptance of inheritance or gifts are not conditional on citizenship.

However, purchasing property or setting up a company in Italy does not automatically confer the right to reside in Italy. Nor does it automatically confer the right to work in Italy. To become resident or work in Italy, you will need to obtain an Elective Residence Visa and permits.

Finally …

If you are considering buying a property anywhere in Italy, you might find our property guide useful. You should always seek independent legal advice. At De Tullio Law Firm we are specialists in cross border and Italian property law. If you would like to discuss your situation, please get in touch. We are here to help.

You may also like De Tullio Law Firm: Combined experience of 55 years

The American Chamber of Commerce in Italy. Puglia Chapter

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The American Chamber of Commerce in Italy

American Chamber of Commerce in Italy. Puglia Chapter

Left to right: Mary Avery, U.S. Consul General Naples. Giandomenico De Tullio, AmCham Regional Representative Puglia. Todd Avery, Minister Counselor for Commercial Affairs.

The American Chamber of Commerce in Italy (AmCham) is a private, not-for-profit organisation. It aims to develop and promote economic and cultural relations between the United States and Italy.

In addition to his role at De Tullio Law Firm, Managing Partner Giandomenico De Tullio is a regional representative for Puglia at AmCham.

Puglia – a dynamic region

“Puglia has one of the most intense economies of Italy and dynamic industrial production. It includes strategic companies which now form an integral part of the national system. And, in many cases, groups of international importance. As proof of the region’s competitive strength, it is enough to observe the region’s exports. In 2014, Puglia led export in the south of Italy with a +9.4% growth and it was the first region in Italy in terms of growth percentage”.

From agriculture to aerospace

Puglia is home to factories and companies belonging not only to industries traditionally associated with the region, such as agriculture but also to steel, automotive, aerospace, furniture and clothing. As to the agricultural sector, Puglia is the region with the highest Italian olive oil production levels, at 36,6%. It supplies hundreds of oil mills all over Italy. The agricultural development model of the region aims to combine competitiveness with economic and environmental sustainability”.

Clean energy

“Puglia features as the second Italian region for energy production from fossil and renewable sources. It is the main Southern Italian region for photovoltaic installations and wind power generation”.

A broad mix of SMEs and multinationals

“The cornerstone of the whole industrial system in Puglia is represented by over 80 sites of about 100 medium and large foreign and national groups. These companies employ over 40.000 direct employees. Alongside these large foreign and national groups, SMEs and artisanal enterprises permeate the whole regional economic system, producing and supplying goods to a wide variety of sectors.”

(Source: Amcham.it)

Finally …

De Tullio Law Firm provides specialist legal advice in all areas of cross border and Italian law. Our particular expertise is in cross-border residential and commercial property transactions and inheritance matters in Italy.

If you would like more information about buying property in Italy or Italian inheritance, you might find our guides useful. Or, if you would like to discuss a legal matter with us, please get in touch.

The American Chamber of Commerce in Italy. Puglia Chapter

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The American Chamber of Commerce in Italy – Puglia

Since October 2015, Giandomenico De Tullio has been a regional representative for Puglia at the American Chamber of Commerce in Italy (AmCham).

AmCham is a private, non profit-making organisation.

The American Chamber of Commerce in Italy’s mission

AmCham’s purpose is to develop and foster economic and cultural relations between the United States of America and Italy. It aims to protect its members’ interests in the sphere of business between the two countries.

For more information, visit this page

More about Giandomenico De Tullio

Giandomenico De Tullio has over 20 years’ experience in all aspects of private and family law. Managing Partner at De Tullio Law Firm, which specialises in cross-border property transactions and inheritance matters. The company operates throughout Italy. Gaindomanico speaks fluent English, Italian and French. He is a member of The Italian Bar Association and a full member of STEP, the world’s leading association for trust and estate practitioners.

Finally …

Clients, both domestic and international, can rely upon De Tullio Law Firm to provide the very best in legal advice and case management. Get in touch today