re you thinking to invest in a house in Italy? Regardless of investing in property in Italy for your personal use or a long period of the investment project, investing in Italy for a property is a great idea? Particularly buying a house in Italy is termed as one of the best investments you’ll ever make. People who do not live in Italy can buy a house there if Italy permits based on its relationship with the respective country. This is a treaty that also allows Italy to buy a home in foreign countries
As can be seen, a recession can often be a significant factor. In the case of the Italian real estate market, 2020 looks like a good year for real estate in Italy. It would be wise to take advantage of the current situation in the Italian housing market as banks and other financial institutions may not abandon the situation to move forward.
Italy has always been a powerful charm; The attraction of a pleasant climate, unique history and culture, not to mention the delicious food and wine, makes Italy a popular tourist destination for many tourists. Many people take the initiative to buy their property and enjoy the holidays in the scorching corner of the countryside with the slow pace of life, creating a successful environment that allows them to relax and rebuild. Once you have bought your house, you can make your property an airbnb in Italy; it can be very profitable to do so, when you are not in the country, especially after finding some locals who may help you to run this business.
This year is probably just the best time to buy goods in Italy for more than one reason. Eurostat, the Director-General of the European Commission in Luxembourg, emphasises that Italy alone, compared to the rest of Europe, has been hit by a consecutive two-curtain housing market that is currently weakening. The slowdown, which began in 2007, has increased further and house prices are now 23 percent higher.
Italian mortgage interest rates are continuing to fall
Non-Italian citizens can get a loan to buy or renew Italian property. Loans of up to 60% of real estate are possible. Many costs have been incurred – and we can explain everything to you. The good news is that mortgage lending rates in Italy dropped by 3.68% in 2013 to 2.32% in December 2017, and in December 2019 prices are as low as 1.8%. So now is an excellent time to ask you to borrow money so that you can buy real estate in Italy.
Buying real estate in Italy is a safe investment
The International Money Fund (IMF) warns of the dangers of homelessness in some developing countries, such as China and Brazil, as well as Australia, Canada, Norway and the UK. This is because of their best-selling commodity market and low-interest rates used by their central banks. This is not the case in Italy, which is considered by the IMF to be a safe investment destination
Rental income tax is high in Italy
Illegal taxpayers’ rent found in Italy. Rates range from 23% to 43%. The risk does not cover an agreement between a party and a family, but a reduction may be taken.
Rents: Rents can initially be freely negotiated, but increases are restricted. Landlords can only increase the rent after the initial 4-year contract.
Income is tax-free if the land was held for more than five years. Otherwise, dividends are recognized as ordinary income and are taxed at developing rates.
Property tax is levied at 4% to 8%, depending on the relationship between the deceased and the beneficiary, on taxable amounts.
Residents are taxed on their worldwide income. At progressive rates, from 23% to 43%.
Tenants have the right to pay regulatory taxes, and effectively for eight years or more of rental security. The landlord can only work a “disdetta” – a registered letter of notice that must be sent at least six months before the expiry of the contract – to the end of the normal 4-year period. Failure to do so renews the contract for another four years.