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Investing in unique properties in Italy with an excellent return: Legal issues

 

Alessandro Clemente − Italian solicitor specialized in international property law and founder at Clemente Law Firm − claims that when buying a home in Italy, but especially one of these unique housing solutions, the help of an English speaking lawyer from the very beginning is crucial to avoid unpleasant surprises. As a matter of fact the process can “hide” some more legal pitfalls than usual.Historic homes, trulli and masserie, but also off plan ultra modern houses and agriturismi. Now that Italy is reopening you’ll be able to come very soon and find one of these typical Italian retreats that is just perfect for you. These properties, although very different from one another, are very popular amongst worldwide investors dreaming of owning their perfect home in Italy, even in this particular moment. Why? Because they perfectly combine the following elements: fine living, high architectural, value very competite prices which are at a historic low excellent yield investment Trulli and Masserie− mainly in Puglia

  • There are specific regional laws − which can vary year after year − on the extension of the property, like the Piano Casa 2020, that will allow you to expand the original volume up to 45%.
  • There are regional restrictions and precise bureaucratic procedures to follow on their renovation or improvement.
  • Pay attention to the prelazione agraria on the land included in the sale of the property.

Agriturismi − mainly in Tuscany, Umbria and Marche

  • You could benefit from tax relieves in case of renovation or to turn the property into a business activity.
  • When you buy an agriturismo, you’re also buying the business activity (cessione di azienda) with all its fiscal implications.
  • Pay attention to the prelazione agraria on the land included in the sale of the property.

Ultra modern apartments − particularly appealing in Milan and in the lake areas of Northern Italy

  • You should remember that as off-plan properties they follow a special legislation (Decree no. 122/2005 and 14/2019).

Historic properties − almost everywhere in Italy

  • Remember that there are special local restrictions when renovating farmhouses and listed buildings, this is beacause they are protected by Belle Arti regulations to preserve their original features and materials.
  • If a property, declared having historical and cultural merit, is going to be conveyed, the vendor must notify the Italian Ministry of Cultural Heritage and Activities that can exercise the pre-emption right within 60 days from the date of receiving said notice.

Clemente Law Firm is an English-speaking law firm representing the ideal one-stop shop solution when it comes to buy or sell real estate in Italy. Many non-Italian buyers have already chosen Clemente Law Firm, the Italian real estate law firm offering independent legal services with a specific focus for cross-border residential and commercial property transactions.

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