Is there a piece of Italian real estate in your dreams? A villa in Tuscany, a lake property at Lago di Como, an apartment in Rome? Let’s focus: rural or urban, luxurious or rustic, historic or modern … so many choices. With real estate prices worldwide corrected to more reasonable levels, and the stronger dollar to euro exchange rate now might be the perfect time to explore those dreams.
Several obstacles to buying real estate in Italy have been recently removed, or at least the way has been made a little smoother. However, you should not expect a real estate transaction to work the same way as it does in the US. To start with, there are different players involved. In Italy, there are a couple of different kinds of realtors (mediatore or mandatario) and a variety of legal and tax considerations.
It is also helpful to deal with a Realtor who is familiar with international transactions. The National Association of Realtors has a designation CIPS – Certified International Property Specialist. These agents have worldwide connections and are used to dealing with foreign buyers and sellers.
For a little inspiration, watch this short video about Il Borgo, located just 16 miles from Florence … a few of these lovely private residences are for sale. Watch the video for more details on a home at Il Borgo.