Tuesday, 19 November 2013

Property in Italy Becomes Cheaper! Land Registry Tax Reduced

Italian government has finally noticed the plight of bleeding real estate market and decided to take stringent steps. In a publically applauded move, government is reducing the land registry tax on second home purchase. After the proposed reduction from next year, you will save €900 for every €100,000 of the sales price.

So if you are purchasing a €400,000 property as a holiday home in, say, Tuscany or Lake Como, you’ll be paying €3,600 less than you would be if you complete after 1st January than if you complete during 2013.

The saving will be even greater if you are buying a prima casa, or principal home in Italy, because you are relocating there. The €1,236 reduction per €100,000 of the sales price will mean that a €400,000 resale property will cost €4,945 less after January 1st.


“This is a really positive step for the Italian property market,” says Linda Travella of Casa Travella.
If you are planning Lake Como property purchase next year and wish to invest in a principal home, then, you will save even more.

The news was published on http://www.aplaceinthesun.com/news/feature/tabid/131/EntryId/2494/Default.aspx

1 comment:

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