Buying Guide Details
Buying Property in Sicily (Sicilia)
Where to buy property in Sicily (Sicilia)
Separated from the southern Italian mainland by the Straits of Messina, Sicily has not, to date, been a major destination for UK property buyers, though undoubtedly the introduction of low-cost flights to its airports has not only increased tourist numbers, but improved the region’s potential as a holiday home location.
The island has a varied landscape. Mount Etna is Europe’s largest active volcano and is understandably Sicily’s best known geographical feature. But with large areas of undulating countryside and some great sandy beaches, and enjoying a balmy climate year-round climate, this region has much to offer as a sunny holiday destination.
In the southeast, the ancient city of Siracusa is the gateway to a region of lovely, UNESCO-protected Baroque towns such as Noto and Ragusa, and the much-admired beach at Pollazzo. The capital, Palermo, has a wealth of varied architecture reflecting a long and colourful history but is undergoing a modern makeover with investment in infrastructure. There are good transport links to a number of beaches and resorts such as Cefalu, on the north coast, and Trapani in the west.
In the east is Messina, the closest point to the mainland, and the island’s best-known resort, Taormina and picturesque Isola Bella bay with its island nature reserve. Though not the cheapest property in Italy, property prices on Sicily are also far from the most expensive and compare very favourably with the fashionable mainland regions.
View property for sale in Sicily (Sicilia)
The Process of Buying Property in Sicily (Sicilia)
- While the amount of Italian red tape is well known, and bureaucracy tends to move rather slowly, buying a property in Sicily (Sicilia) is actually pretty straightforward – if somewhat time consuming
- Anyone wishing to buy property in Sicily (Sicilia) must first obtain a tax identification number (codice fiscale) from the Italian authorities
- There are then three main property buying stages. The property buyer makes an offer, which commits him/her to buying the property in Sicily (Sicilia) 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 property 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
- Property buyers should set aside around 15% of the purchase price to cover costs
- Stamp duty/land registration tax for non-residents (i.e. second-property owners) varies from 10% of the declared price for urban property in Sicily (Sicilia) up to 17% for a rural property in Sicily (Sicilia). Most properties are considered urban properties in Sicily (Sicilia)
- Residents or those intending to make a permanent move will pay 4% stamp duty
- VAT on new properties in Sicily (Sicilia) ranges from 10 to 20%, depending on whether the property in Sicily (Sicilia) is considered a ‘luxury property’. This is usually included in the price
- Reduced rates of 4% VAT are available for those who build their own property in Sicily (Sicilia)
- 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 property in Sicily (Sicilia).
Getting there
There are regular direct flights to Palermo, Catania and Trapani from the UK and Ireland. Ferry routes to Siracusa from the Italian mainland.
View property for sale in Sicily (Sicilia)
Buying property in Sicily (Sicilia)