Altea Magazine

Buying Luxury Property in Italy as a Foreign Buyer: A Step-by-Step Guide

Italy remains one of the most desirable places in the world to own a second home. For international buyers from the United Kingdom, Switzerland and the United States, the appeal is obvious: a Mediterranean lifestyle, world-class design and a property market that still offers real value at the top end. What is less obvious is how the purchase actually works. This guide walks you through the process in plain terms, so you know what to expect before you make an offer.

Can foreigners buy property in Italy?

In most cases, yes. For citizens of the United Kingdom, Switzerland and the United States, the right to buy is generally governed by the principle of reciprocity: a foreign national may purchase property in Italy provided that an Italian citizen would be allowed to buy in the buyer's own country. In practice this rarely presents an obstacle for UK, Swiss and US buyers, but it is a point your advisers will confirm at the outset rather than assume. EU and EEA citizens are treated on equal footing with Italian nationals.

Step 1 — Obtain your codice fiscale

The codice fiscale is an Italian tax identification code, and it is the first practical step for any foreign buyer. You will need it to sign the purchase contract, open a utility account and, in most cases, open an Italian bank account. It can be requested from the Italian tax authority (Agenzia delle Entrate) or, from abroad, through an Italian consulate. Your agency or notary can usually arrange this on your behalf with a power of attorney.

Step 2 — Engage the right professionals

A luxury purchase in Italy typically involves three roles working together:

• The real estate agency, which sources the property, verifies its documentation, negotiates on your behalf and coordinates the transaction end to end.
• The notary (notaio), a public official who is impartial by law. The notary verifies title, checks for mortgages or charges, drafts the deed and registers the transfer. In Italy the notary is not "the seller's lawyer" or "the buyer's lawyer" — they safeguard the legality of the transaction for both sides.
• Optionally, an independent lawyer or tax adviser, particularly useful for cross-border buyers who want guidance on structuring and on their home-country tax position.

Step 3 — The offer and the preliminary contract

Once you have chosen a property, the process usually moves through two contractual stages. First, a written irrevocable offer or reservation, often accompanied by a deposit. When accepted, the parties sign the preliminary contract (contratto preliminare, or compromesso), which sets out the price, terms and completion date and commits both sides. A deposit (caparra) is normally paid at this point. The final step is the deed of sale (rogito), signed before the notary, when the balance is paid and ownership transfers.

Step 4 — Taxes and costs, in brief

Purchase costs in Italy depend on several factors — whether the seller is a private individual or a company, whether the property qualifies as a primary or secondary residence, and the property's cadastral value. Rather than quote figures that may not apply to your situation, we recommend a simple principle: ask your notary and tax adviser for a written cost estimate before you sign anything. Typically you should budget for registration or VAT-related taxes, notary fees, and agency commission. A reputable agency will give you a transparent, itemised breakdown up front. For non-resident buyers, it is equally important to understand the ongoing annual property taxes and how the purchase interacts with your tax residence at home.

Step 5 — Completion and beyond

At the deed signing, the notary reads the contract aloud, both parties (or their attorneys) sign, and the balance is transferred. The notary then registers the transfer and pays the relevant taxes on your behalf. From that moment the property is yours. A good agency's role does not end at the deed: property management, rental coordination and after-sales support are part of a genuine luxury service.

How this works with UP TOWN — The Sky-Villa

If your search is for a landmark second home, consider UP TOWN — The Sky-Villa in Jesolo Lido, near Venice. It is a single duplex penthouse of 275 sq m with a private rooftop solarium and 360° sea views, set in a boutique building of just eight residences, roughly 45 minutes from Venice and 270 metres from the beach. Altea S.r.l., with offices in Sacile (Italy) and Salzburg (Austria), guides international buyers through every step described above — from codice fiscale to the notary's deed — in English and German.

Request the private dossier or arrange a discreet private viewing, in person or by video call. Contact founder Dr. Tiziano Spagnuolo at info@altea.re or +39 337 534 850.