Buying Guide Details
Buying Property in Campania
Where to buy property in Campania
The overseas buyer looking for property in Campania has a huge choice of properties to search through. There is a wealth of affordable, traditional, countryside property for sale in Campania, a largely rural region, both habitable and ever-popular renovation projects. Campania also has a number of excellent coastal resorts where property prices reflect the quality of the location and the homes.
The Amalfi Coast has been a top destination for decades. Resorts on this dramatic coastline, such as Sorrento, Positano and Ravello as well as Amalfi itself, boast high property prices, though the maturity of the tourist market in this area means that a property on the Amalfi Coast will have no trouble in attracting rental by the huge number of visitors to the region each year. The islands of Procida, Ischia and Capri are expensive hotspots but again have a busy tourist industry and good potential for rental income – if you can afford the property in the first place.
The city of Naples has a long, rich history and property here is not cheap. It’s a vibrant and colourful city with a distinctive character. It’s also a great base for visiting nearby Mount Vesuvius and the ancient, preserved cities of Pompeii and Herculaneum. Tourism is, once more, a vital element of the local economy and provides large numbers of potential tenants for a home in the area.
Property in Campania is much cheaper along the coast south of Salerno, which is becoming a more popular holiday destination, and in the region’s hinterland, where an abandoned farmhouse in need of some restoration can provide an inexpensive opportunity for the overseas property buyer to purchase a piece of the Italian countryside.
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The Process of Buying Property in Campania
- While the amount of Italian red tape is well known, and bureaucracy tends to move rather slowly, buying a property in Campania is actually pretty straightforward – if somewhat time consuming
- Anyone wishing to buy property in Campania must first obtain a tax identification number (codice fiscale) from the Italian authorities
- There are then three main buying stages. The buyer makes an offer, which commits him/her to buying the property in Campania at the given price. If the seller accepts, a deposit (usually 10%) is paid
- Both parties then sign a legally binding buying proposal (compromesso di vendita). This outlines the details of the transaction, including the scheduled completion date
- Should the seller withdraw, they must pay the buyer double the value of the deposit. If the buyer pulls out, he/she loses the deposit
- On completion, both parties sign the final contract (rogito) in the presence of a notary, who then issues the deeds and informs the land registry to transfer ownership. The remainder of the balance, plus all taxes, must then be paid at this point.
Homes Overseas Property Club
Homes Overseas has joined forces with a collection of IFA specialists to form the Homes Overseas Property Club (HOPC), designed for existing and prospective overseas property homeowners.
The Club – which has access to international lawyers in no fewer than 43 different countries - has been set up in order to guide people through some of the various issues relating to buying and maintaining a property overseas. It offers advice on a range of topics, including financial, legal, insurance, taxation, property management and foreign currency matters.
For further information please telephone 0845 838 7142 or email info@homesoverseaspropertyclub.com
Fees & Taxes
- Buyers should set aside around 15% of the price of the property in Campania to cover costs
- Stamp duty/land registration tax for non-residents (i.e. second-home owners) varies from 10% of the declared price for urban property in Campania up to 17% for a rural property. Most homes are considered urban
- Residents or those intending to make a permanent move will pay 4% stamp duty
- VAT on new properties ranges from 10 to 20%, depending on whether the property is considered a ‘luxury home’. This is usually included in the price
- Reduced rates of 4% VAT are available for those who build their own property in Campania
- Estate agent’s fees are usually between 3 and 5% per cent, notary fees average around 3% and legal costs tend to amount to around 2% of the purchase price of the property in Campania
- Local taxes (ICI) of between 0.4 and 0.7% also apply to anyone owning a home in Italy.
Getting there
There are a number of flights from the UK direct to Naples.
View property for sale in Campania
Buying property in Campania