Italy is a territory that has always attracted millions of international visitors / students each year and a “guided” real estate investment, for those looking into buying property in Italy, can be profitable as long as the obvious inspections are made prior to purchase.
As it happens in all types of market, even in the real estate market, especially in the case of searching for greater profitability, those who sell seek to minimize any type of problem and make their object more attractive on the market.
In the article the main points for those who are looking into buying an apartment or buying a home in Italy for investment purposes.
RECOMMENDED STEPS BEFORE MAKING A REAL ESTATE INVESTMENT IN ITALY
Buying Real Estate in Italy: A legal overview
The first steps that our staff recommend to a foreign investor who is preparing to buy one or more properties in Italy are the following.
– Identification of the geographical area of preference or where to buy property in Italy. Italy is all very beautiful but the investment index that relates the properties with the geographical areas where they are located is a very important point (city, province, countryside, proximity to sites of interest, sea, museums centers historical, etc.) when buying property in Italy. For this, AI provides its operators and experts in identifying and proposing, through interviews, geographical areas of real interest to the investor.
– Locating the property. With the support of our technical staff, it will be possible to carry out a search of the property of interest with greater speed and profit. It will be our staff that performs, for customers abroad, any inspections, phone calls, and all the information needed to understand if the property has the potential to move on to the next point. Another important point that we help with in understanding how to buy property in Italy.
– Technical/Legal Due Diligence – at this point (a very important part of the buying a house in Italy process) one or more properties of interest will be taken into consideration. Our team of accountants and surveyors will carry out the necessary checks, both by means of an inspection of the building itself and at the relevant offices, to identify any technical or legal problems of the property or selected properties for any american buying property in Italy.
– Preventative quotation of any renovations/modifications and advice on furnishings that will be coordinated with the type of income provided by the customer. Our technicians, in collaboration with our market consultants, will draw up a business plan regarding any property renovation in Italy and improvement work, as well as a furnishing proposal, aimed at making the property more functional and attractive for the business chosen by the client.
– Along with the previous point, our real estate market experts will carry out a review of the local tourist rental market in order to draw up a three-year business plan to assess the investment profitability rate with the customer.
– Study of the costs to set up the operation – restructuring costs, taxation costs and what is the buying a house in Italy tax, costs for setting up a support company in Italy.
And at this point we are there!!!
– Our legal advisors will support customers in all bid preparation procedures and purchase of property ….
– One of the key points of real estate investment is the speed with which you can put a property into income, and thanks to our support, both in the preventive phase, which is fundamental, and in the implementation phase of the business: offer, purchase, renovation, the times will be reduced to a minimum, reducing, if not completely excluding any kind of surprise or mishap.
PROFITABILITY CONSULTATION ON REAL ESTATE INVESTMENT
AI is a pool of experienced professionals at 360 degrees in the field of real estate investments in Italy. With a staff that enumerates in its ranks architects, construction entrepreneurs, decorators, accountants, lawyers and entrepreneurs in the tourism and hospitality industry that can provide specific advice on investment property in Italy, real estate consulting in Italy, how to buy a house in Italy and even more specifically, how to buy a house in Italy as an American, for example.
Real Estate Market in Italy: Buying Real Estate in Italy
We, at AI, are used to analyzing the properties according to our criteria, given by the experience of our collaborators and targeted investigations both in the offices in charge and in the market area concerned.
Starting from a “Due Diligence” on the property identified by the investor, the first phase consists of a check of the technical status, assessment of any restoration work and renovation work aimed at making the property functional and more attractive on the market, study of the local rental market, drafting a business plan to verify the effective profitability of the operation.
If the customer is interested, then he passes to a screening of the property in Italy and verifies, at the relevant offices, the real need for any bureaucratic adjustments.
At this point the customer is given an appropriate purchase price, including a list of the documentation to be drawn up and any work to be carried out, both for the regulatory aspect and for the client’s needs.
Thanks to its contacts in the Italian building market, AI is also able to identify real estate investments in Italy that can have a high rate of profitability.
AI is also in contact with the most important real estate management companies in Italy which allows our staff to advise the best companies to manage the properties purchased in Italy. In case of significant investments, the pool of Lawyers/Accountants can also provide assistance in the creation of a new company structure (New Co) that will directly manage the acquired properties.