There is one region of Italy that we have touched on before where property is still affordable, the weather and scenery are among the best in Italy and where until very recently indeed only local Italian interest was centred mainly because of accessibility problems.  The region in question is called Abruzzo and it truly does offer you the chance to afford both a home that you can reside or holiday in as well as the option to buy an investment property too.

As stated, one of the main reasons that Abruzzo in Southern Italy had remained so cheap in terms of its property prices is that it didn’t have direct or cheap air access.  Now it has cheap and regular international flights into nearby Pescara and it also has fast rail links to Rome and the rest of Europe - and so slowly but surly international interest is rising and so in turn are Abruzzo real estate prices!

If you want to get in on what is possibly the last wave of affordable property in Italy then you really should be booking your cheap flight to Pescara or your rail passage from Rome and heading south to explore the stunning region with its abundance of beaches, mountains, national parks, sun, sea, sand and even winter skiing.

For those searching for an affordable home in Italy Abruzzo has everything from beachfront apartments to rural renovation retreats as well as everything in between! 

Usually those seeking a home overseas fall into one of two distinctive categories – those who want a home within a vibrant setting where they can enjoy life but also where they can have a great holiday - and those who are after a home away from it all, a home that offers them the chance to explore the real Italy and also a chance to explore their inner-selves!

Well, for the former what about new build apartments in a beachfront setting or refurbished homes located within a short drive from Pescara airport and offering the best of all worlds by being accessible to the airport, the beach, mountains and the main nightlife in the Abruzzo region?  And for the latter Abruzzo offers everything from farmhouses inland which are in need of complete rebuilding to village homes that are within the heart of an Italian community and which offer one the chance to explore ‘real’ Italy?

Things to consider before you buy

We would recommend you research the various areas before you choose to buy, much of this research can be done via the Internet, but it is important to consider what you want from your property just as much as the area you prefer.

For example, If you like to ski, make sure your property is close to the resorts and that the roads to these resorts allow you to get there in reasonable time. If you like outdoor activities like canoeing, hiking, whitewater rafting, fishing etc make sure that these can be done near your property. We cannot emphasize enough how important this is, depending on what you are after, price obviously is important but there are good value properties in the West of the country just as there are in the East, so be demanding, if you want to be near mountains and valleys, streams, rivers etc, make sure that’s what you get! Because it’s all here!

It may sound obvious but if its skiing you’re after make sure you visit and think about buying when its winter, you can check out the facilities when they are all running and make good comparisons between resorts and areas, which you can’t do in Summer.

Consider whether you want a property that is new or needs no renovation versus a renovation project. We can help with any renovation you require and project manage for you, but this may not be for you, while the financial returns are can be greater on a renovation project, you may prefer a property that you can use and rent out from day one.

We as a licensed agent sell both our own properties as well as co-market properties from other agents, so if you don’t find anything you really like on the website don’t settle for second best, Tell us what you are really looking for and let us try to find something more suitable. We would prefer not to sell a house to you than sell you one that you later realise wasn’t really for you.

Having found a property in Italy the first step in the negotiation is to prepare a written offer to the seller through the real estate agency. With the purchase proposal (proposta d'acquisto) the buyer binds himself irrevocably, for the period of validity of the offer, to buy the property for himself or for others, independent, or legal representative, organizations or companies, who have the right to remain anonymous until the signing of the final notary deed , at a particular price.

In the mean time a cheque is given to the vendor (non transferable) which will be delivered by the agent, to the vendor who, having accepted the conditions, will undersign the proposal. The amount of this cheque (which can vary depending on the price of the estate) will become deposit and "first payment" of the price offered. If the seller refuses the offer, the cheque is given back to the buyer within 5 days.

In the case the offer has been accepted and signed by the seller, the preliminary contract (contratto preliminare or compromesso) is prepared.

The preliminary contract contains the details of the sale such as:

• purchase price
• way of payment and financing
• date of the drawing up of the final deed of purchase (rogito)
• declaration of the absence of mortgages and/or other bonds
• description of the estate and relative pertinences
• indication of the amount paid as first payment, caparra confirmatioria e/o caparra penitenziale;
• declaration of conformity according to the building and town planning rules;
• declaration that eventual building illegalities have been remitted (condono edilizio)

The final deed (rogito) is drawn by a public notary (notaio) paid and chosen by the buyer. Once the contract has been signed by the two parties, the final payment is done (balance). The notary will prepare the official communication to the local council and register the deed of sale (atto di vendita). The notary will also provide in giving seller and buyer a copy of the conveyance.

FEES ON REAL ESTATE PURCHASE

When you buy a property, fees to be paid can vary depending on the destination of the property and the vendor (private or builder).

In the case the property to purchase is a first home and the vendor is a private, the final notary deed is subject to the following fees:

• registration fee of 3%
• fix mortgage fee of 129,11 Euro
• fix cadastral fee of 129,11 Euro

In the case the real estate is a second home or a different type of property, the final notary deed is subject of a total fees amount of the 10%:

• registration fee of 7% (3% when of artistic, archeological, historic interest)
• mortgage fee of 2%
• cadastral fee of 1%

In the case your first home is sold by a building company, the final notary deed is subject to:

• VAT of 4%
• Fix registration fee of 129,11 Euro
• Fix mortgage fee of 258,23 Euro

In the case is a second home or a different type of property:

• VAT of 10% (20 % for a luxury home, 3% when of artistic, archeological, historic interest)
• Fix registration fee of 129,11 Euro
• Fix mortgage fee of 258,23 Euro

The above mentioned fees have to be applied on the value declared in the final notary deed. This value can not be, in any case, lower than the "cadastral value" of the real estate, which is calculated multiplying by 115 the cadastral income given to the estate.

Notary's fees can vary depending on the price of a property and are higher as percentage on cheaper properties.

Agent commission : 3% of the purchase price

PROPERTY TAXES

Who owns a property in Italy pays yearly a tax called ICI (Imposta Comunale sugli Immobili) to the council (Comune) where it is located the property. In Abruzzo the annual tax vary from 0,5 to 0,8 % (depending on the commune) of cadastral value the is usually much less the real market value.

How much does it cost? 3% of the Value of the Real Estate

•    - You will be able to visit as many houses you want.
•    - We will support you organizing all relevant documents needed (eg help procuring tax code).
•    - Daily Briefing and Tours
•    - Bank account set up
•    - compromesso-signing