Tips for Renting and Buying Property in Italy

While millions of travelers head to Italy’s resorts, boutique hotels, villas and bed and breakfasts to enjoy comfortable accommodations and guest services during their stay, frequent travelers to Italy may benefit from renting a property instead.  The majority of residents in Italy own their homes and many open up rooms for guests and travelers on a regular basis; however, if you want the freedom of having an entire house or condo to yourself, renting the property for a short or long-term stay may provide some financial advantages.  Here are some tips for renting and buying property in Italy:
1. You will have to pay a high registration tax as a non-resident.  Registration taxes are imposed on non-resident and non-citizens of Italy, and can be as much as 11% of the property price.  You can save this amount If you relocate permanently to Italy or obtain dual citizenship.  However, this process can take a considerable amount of time.
2. You will have to pay a heavy tax if you sell the house within five years. If you do purchase a home in Italy, you will incur an extra charge for selling it within five years.  Many people choose to rent their poerty first to make sure it truly is the right fit; if it is, they can then go through with the purchase.
3. Furnished rental property may cost you more in the long-term. If you are looking for a place to enjoy an extended stay – perhaps 2-3 months – investing in your own furniture, supplies and décor may be a better choice than paying the premium for a furnished rental.  Unfurnished rental properties are significantly lower in price than furnished rentals, and can help you save money in the long-term.
4. Consider hiring a property agent to track down the right rental or purchase. If you have never visited Italy before, you may be able to take advantage of the services of a rental agent. These agents specialize in finding the right match for your tastes, budget and needs and can give you a wide range of options.

5.  Do an online search for available rentals. Renting property in Italy has gotten easier with the help of the Internet, and there are several search engines available that can help you track down an attractive place to call home.  Websites such as Viviun http://www.viviun.com/Rentals/Italy/ and Italy Weekly Rentals http://www.italy-weekly-rentals.com/ offer several options for short and long-term stays.
When you’re considering a long-term stay or short-term vacation in Italy, renting or buying a property offers several financial advantages.  Make the best decision  on the property by conducting extensive research and working with a rental agent who is familiar with the area.