Buying Guide Details
Buying Property in Friuli-Venezia Giulia
Where to buy property in Friuli-Venezia Giulia
Buyers looking to purchase a property in Friuli-Venezia Giulia will be pleased to see property prices are generally lower than average for the country. With mountains in the north, Adriatic coastline to the south and some historic cities in between, there is a very wide choice of property available in the region.
Cities such as Trieste and Udine offer centuries of history and great architecture. In the Carso area around Trieste there are plenty of renovation opportunities for rural property in Friuli-Venezia Giulia. For a home by the sea, the popular spa resort of Grado is located in a lagoon on a peninsula along the Adriatic coast in the south, and is known as “The Sunny Island”.
In the northwest of Friuli-Venezia Giulia, buyers looking for a mountain property will find that the Carnia offers some excellent skiing in the Dolomites and Alps. The resorts of Forni di Sopra and Ravascletto are probably the best known in the area and as well as winter sports, offer summer activities too.
This largely ‘undiscovered’ region not only has a unique heritage, with influences from Austria and Slovenia, but a variety of outstanding landscapes and interesting homes. With prices at the lower end of the Italian market, and good connections to the UK, anyone looking for a home in Italy should take a look at this often overlooked area.
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The Process of Buying property in Friuli-Venezia Giulia
- While the amount of Italian red tape is well known, and bureaucracy tends to move rather slowly, buying a property in Italy is actually pretty straightforward – if somewhat time consuming
- Anyone wishing to buy a property in Friuli-Venezia Giulia 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 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 purchase price 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 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 in Friuli-Venezia Giulia 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
- 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
- Local taxes (ICI) of between 0.4 and 0.7% also apply to anyone owning a home in Italy.
Getting there
There’s a direct service between London Stansted and Trieste in the east of the region. There are many direct services to Venice, the best starting point for the west of the region.
View property for sale in Friuli-Venezia Giulia
Buying property in Friuli-Venezia Giulia