You should be aware of these additional costs and taxes if you’re planning to sell your House Villa or Apartment in Italy.
You should bear in mind the additional charges and expenses of selling property in Italy, such as the Italian property tax. It’s crucial to include in additional costs when selling your Italian home since you won’t know how much profit you’ll make until after the selling costs are factored in. Taking a deeper look at the expenditures involved with selling property in Italy.
Selling a home in Italy comes with a slew of additional charges.
If you don’t know what you’re doing, selling an Italian home might be a challenge. You must be aware of taxes, fees, and charges when selling a home in Italy, even if the process is much easier than purchasing one.
Fees charged by Italian agencies
If you decide to work with an Italian real estate agent, you may expect to pay a commission to them. Agencies often charge between 2 and 3 percentage points of the purchase price in Italy to cover their costs, which are typically split between buyers and sellers.
In Italy, notary fees are charged.
The notary fees, which are generally paid by the buyer, but in some situations, the seller may also have to pay a smaller amount, are another transaction charge when selling property in Italy. You’ll have this option if the property you’re selling is something you inherited or if it was custom-built for your use.
Italy’s legal expenses
You should conduct as much research as possible before selling property in Italy, especially if you don’t speak the language or aren’t familiar with the procedure. Due to the difficulty of the legal process of selling a home in Italy, many expats opt to hire an attorney to assist them. This, of course, comes at a premium price.
Certificate of energy efficiency
Having an up-to-date energy efficiency certificate is essential when selling property in Italy Based on the size of the house, an energy certificate might cost as much as 200 euros.
Additional costs for the administration
The municipality and the land register may charge you administrative fines and a fee to update your property records if you’ve made improvements to your Italian house without the necessary licences.
In Italy, there is a property transfer tax.
Personal income tax (IRPEF) and any other kind of capital gains tax are waived if you decide to sell your Italian home more than five years after purchasing it.
In Italy, is there a capital gains tax?
Capital gains tax and personal income tax must be paid in Italy if the property was purchased within the last five years.
Taxing non-Italian citizens on their Italian property.
Foreigners (non-residents) in Italy are subject to the same property taxes as Italian citizens. It doesn’t matter if you don’t live in Italy; you’ll still have to pay the same taxes. Also, keep in mind that you may be liable for taxes in your home country as well.