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Guide to Buying in Italy
When people visit Italy, they fall in love with the art, culture, food and of course the Italian way of life. Whether a holiday home, Yacht or even dream home, it is no surprise that more and more people are looking to buy in Italy, but how?
Our expertise and guidance have been condensed to offer the best guidance on buying in Italy, in specific the Riviera. Our guidance takes you from start to finish and brings your dream to life to ensure that your investment goes as smoothly as possible. There ae plenty of reasons to buy in Italy and our connections in Italy, the UK, Russia and France position us to be able to work with you to help turn a dream into a reality.
If you do have any questions, we would be delighted to help.
USEFUL
INFORMATION
Why buy in the Italian Riviera?
The Italian Riviera is unique, it has something for everyone. If you like the sea, sand and sun then the Italian Riviera has over 300km of coastline, stunning waters and beautiful beaches. If it’s nature then over 12% of the Riviera is covered by nature reserves with the Apls and Apennines forming a great backdrop. Culture, it has it covered with its old chocolate villages, Roma ruins and historical arts events. The Italian Riviera is classic with beautiful streets and malls showcasing many well know and exclusive brands. For sports there are the Ski slopes, Watersports and local teams who gather to play and support. It has great food with cooking classes and amazing restaurants playing host to beautiful backdrops. It is literally a place for everyone.
Transport links
Sitting between Nice and Genoa, the Italian Riviera has great transport connections with Nice Côte d’Azur Airport and Genoa Christopher Columbus Airport both offering accessibility to Europe and afar. With airlines such as Ryan Air, EasyJet and BA flying into both airports there is plenty of choice and even the option for day trips.
The major train links offer routes all across Italy including Milan, Turin, Rome and Naples. A train and bus service are also available to take you to parts of France including Paris and Nice as well as Monaco.You may also look to charter or moor your own Yacht in the Riviera and the local harbours are positioned close to the main centres.
Affordability
From sea apartments, yachts or luxury homes there is something for all budgets. A two-bed apartment with sea view and balcony on the Suffolk Coast could set you back £425,000 compared to €198,000 for similar in Bordighera.
There are many styles of homes and originality in terms of those with fresco and those with modern interiors. Many homes near the sea are apartments but the further inland you go, be prepared to find quaint and luxury houses.
If you are considering making a Yacht your home then the cost to moor will likely set you back xxx compared to xxx in the UK.
Quality of living
The unique landscape of the Italian Riviera offers a diverse climate for the support of local fruit and vegetables including tomatoes, garlic, nuts and artichokes. It’s position to the sea also offers fresh sea food and the grassy hills offer a culture for meat to be raised with kindness. All of which can be purchased locally at the markets of in the local supermarkets. By keeping produce local expect to see a decrease in cost, making the cost of living lower but of a better quality.
Many restaurants are family owned or have made their mark with the local community so expect to eat amongst locals when eating out. Never the less, there are few chain restaurants in the Italian Riviera so expect good quality food and wine at a fair cost.
There is no council tax in Italy so when you become a resident expect to see a reduction on your electricity rates. However, you won’t need to worry much about needing heating too much because the Italian Riviera has a great warm climate for most of the year.
Great Climate
On average London has 1573 hours of sunshine per year and an average temperature of 13 degrees. Compare this to Sanremo which has an average temperature of 20 degrees and 2570 hours of sunshine per year. To give you an idea imagine being in London in December, warm coat, hot mug of cocoa and a pair of gloves. Step to Italy with a glass of wine outside, light jacket and the natural suns warmth to heat you up.
For crisp and snowy winters travel to the Ski resorts in both the Italian Riviera and France which are popular with avid winter sports enthusiasts.
For hot summers stay coastal with temperatures hitting forty degrees with gelato melting instantly. But t escape these temperatures a trip up to the hill mild’s the temperatures and allows you a wealth of history, fine local food and historic sights
Italian Culture
It’s not just ABBA in 1974 singing Waterloo who put Eurovision on the map. In fact, the annual Sanremo Music Festival has been hosting the entries for Italy for the Eurovision Song Contest over 70 years. It has also been home to Global acts like Frank Sinatra, Elton John and Andrea Bocelli.
The Sanremo Rally is a historic car event for any motor sport enthusiast and brings together a range of manufactures to race through the streets of Sanremo. The Rally has been a crucial part of the culture since 1929 and is still celebrated in October today.
Halloween in Triora celebrates the ancestry of the many suspected Witches killed in this area under the Salem Witch trials.
The Sanremo Street Food Festival takes place in February and celebrates the diverse, cultural and warm love of Italian food. It is a festival often celebrated by friends and families together.
During the build up to Christmas expect to see street lights and shops decorated in classic Christmas decorations as the holidays and festival of Befana; the old witch sharing treats, is celebrated.
Get a copy of the PDF we have created for you that includes lots of festivals and celebrations in the Italian Riviera you should not miss.
Beautiful places to visit
Once you have established the Italian Riviera as your home, you are going to want to explore the wonders around you.
If you have a passion for the art and wish to engage with the world of Monet at Dolceacqua or even Villa Grock with it’s history of Clowns and Mines. Perhaps you prefer the ruins of Bussana Vechia or the diversity of heritage at the Russian Orhodox Church. Maybe you have a taste for visiting the Olive Groves or Naval Museums. There is plenty for you to explore.
Take a look at our twenty best places to see guide.
STEP BY STEP
BUYING GUIDE
So now you know that investing in the Italian Riviera is for you, let us explain the guide to buying. The process from start to finish will take you around six months meaning that your dream is a closer reality than you may have thought.
Month One
- Grab a map and work out the areas you want to live in. Ask what you like about the areas and‘weigh up which work better for your requirements. If you wish to live by the coast then you need to look at Sanremo, Bordighera, Ventimiglia etc where as for village life you will need to look at Apricale, Dolceacqua, Cuneo etc.
- Make connections and start to plant your foundations. Find a legal team and mortgage advisor. ‘When working with The Riviera Concierge we also have connections for you to lean on in Italy and the UK.
- Visit or plan a trip to the Italian Riviera, get a feel for the places you have chosen. Explore your amenities in these areas.
- Be firm but realistic with your budget and leave room for negotiation.
Month Two
- Open an Italian Bank account, you are going to need this.
- Tell us your requirements and what you are looking for in your property. Meet us for a coffee or phone call, we want to get to know you so we can help you once you are in Italy.
- Plan you needs and your desires in your home and start to search properties.
To open an Italian Bank Account, you will need to have your codice fiscale which is a number issued by The Italian Revenue Agency.
This is not a difficult process but you will need a passport. You solicitor can open a bank account on your behalf and you will need to go into your branch in person in Italy.
You may wish to consider one the below Italian Banks for this process:
- Banco di Roma
- Banca Nazionale
- Banca d’Italia
- Banca Comerciale
- Italiana
- Intesa Sanpaolo – has around 5,600 branches
- UniCredit
Month Three
- Book your viewings, we are happy to accompany you.
- Discuss your options with your solicitor.
- Look at your property structure and make sure your deposits are in hand.
- We can help you extend or renovate any property with our building and architect connections. Speak or meet with these to plan your dream.
Month Four
So close, it’s nearly yours.
- Utilize our connections who can advise you on matters such as tax or inheritance issues.
- Go back and have a second even third viewing on the property; make sure it’s right for you.
- Think about signing proposta di acquisto (purchase proposal), which is a declaration of intent that your wish to purchase the property, it may gain you some extra time. Keep in mind that the seller can refuse and you may lose out on the property.
- After you make a firm offer you will need to arrange a contract with a Notary who will sign your arrangement on behalf of the Italian state. We can help you with this.
- Transfer the funds and make sure that the exchange rate is held which could save you money in the long term.
Month Five
So, the property is almost yours now.
- Sign you contratto preliminare which is your final contract and also signed by the seller. You will need to transfer your deposit at this stage.
- Both legal parties will need a few weeks to finalise final papers.
- You will need to attend the Notary office and sign you atto pubblico di compravendita final deed of sale.
Month Six
Start shopping you have a brand new home!