40 UGLOBAL IMMIGRATION MAGAZINE
the buyer or the seller and they are completely neutral . Italian notaries perform more duties than those normally associated with notaries in other countries . Notary public must carry out a legal and administrative due diligence on the property to make sure that the seller has the full title on the property , the property is free from mortgages , liens or other burdens , and it is compliant with building and safety regulations . The Notary ’ s due diligence does not include any checks on possible structural defects and it is therefore advisable to appoint a specialized technician for this purpose . As additional guarantee , if you buy a property under construction , the builder - until closing is finalized - must provide a bank or insurance guarantee equal to price paid . The buyer is therefore protected against the builder bankruptcy or failure to complete the project . The seller is liable for major defects of the property until 10 years after the closing .
WHERE TO BUY IN ITALY
Italy is the third most popular tourist destination in Europe . Many foreign buyers purchase a property with the scope of deriving an income from short rentals to tourists . Buying a residential property in the historical center of one of the main cities can be expensive , but there are surely more opportunities to rent it . Gross rental yields in the historical center of Rome , Milan , Venice and Florence , range from 2.4 % to 4.4 %. If you have a lower budget , you can take into account a property in regions such as Abruzzo , Molise , Calabria or Sicily or the less expensive parts of more famous and expensive areas such as Tuscany or Lake Como . Generally speaking , northern Italy tends to be the most expensive part of the country , and the further south you go , the lower the house prices are . But there are many exceptions to this rule , for example Capri Island , Amalfi Coast or Puglia .
WHAT ’ S THE EXPECTED IMPACT OF COVID 19 ?
The 2020 coronavirus emergency has hit the Italian society and its economy hard . It is early to assess any impact on the residential real estate market . According to Nomisma , there will likely be a sharp drop in the real estate market for residential homes - between 50,000 and 120,000 fewer sales . As to prices , in the three years of 2020 , 2021 and 2022 , prices could decrease on average between 3 % and 10 %. On the other hand , due to the limited mumber of properties available in historical centers of the main cities as well as in prestigious tourist locations ( where it is not possible to build or expand any new property ), prices of residential real estate will most likely remain steady . The expected reduction of tourists and international students will pose a risk to properties destined to short term rentals and student housing .
INCENTIVES FOR RESTRUCTURING WORKS
In order to protect and boost the construction industry , the Italian government has taken several measures . For example , “ Decreto Rilancio ” ( which can be literally translated as Relaunch Decree ), included the increase of deductions applicable to renovations , ensuring a strong leverage for investment . Specially , in the case of renovation works for energy efficiency ( ECOBONUS ) and seismic risk reduction work ( Sismabonus ), the deduction will be increased to
产是为了向游客提供短租 , 从中赚取收入 。 在主要城市的 历史性中心购买住宅房产可以非常昂贵 , 但出租的机会也 肯定会更高 。 在罗马 、 米兰 、 威尼斯和佛罗伦萨的历史性中 心 , 总租金收益率在 2.4 % 到 4.4 % 之间 。 如果您的预算没 有这么高 , 可以考虑阿布鲁佐 、 莫利塞 、 卡拉布利亚或西西 里等地区的房产 , 或者在托斯卡纳或科莫湖等较为著名和 昂贵的区域购买价格稍微低廉的房产 。 一般来说 , 意大利 北部往往是全国房价最高的地区 , 越往南部走 , 房价就越低 。 但也有例外 , 比如说卡普里岛 、 阿马尔菲海岸或普利亚区 。
预计 COVID 19 带来什么影响 ? 2020 年新型冠状病毒疫情对意大利的社会和经济带来了 沉重的打击 。 现在来评估它对住宅房产市场造成怎样的影 响还为时过早 。 根据 Nomisma 的数据 , 住宅房产市场很 可能会出现暴跌 —— 销售量减少 5 万至 12 万套 。 至于价格 , 在 2020 年 、 2021 年和 2022 年这三年中 , 平均房价可能 会降低 3 % 至 10 % 。 另一方面 , 由于主要城市的历史性中 心和著名旅游景点的房产数量有限 ( 这些地方不可能建造 或扩建任何新房产 ), 住宅房产的价格大概率会保持稳定 。