Buying Guide Details
Buying Property in Valle D’Aosta (Aosta Valley)
Where to buy property in Valle D’Aosta (Aosta Valley)
This small, predominantly mountainous northern region is probably unfamiliar to many overseas property buyers, though properties in the region are relatively cheap. There are many farms and vineyards dotted around the flatlands, some of which are ripe for renovation.
Potential rental returns from tourism make property in Valle D’Aosta (Aosta Valley) a good investment, with ski resorts that also offer great scenery in summer. Mont Blanc (Monte Bianco) and the Matterhorn (Monte Cervino) are world-renowned regional landmarks.
The area benefits from good connections to northern Europe via the Alpine road tunnels, and is bilingual (Italian and French) with cuisine heavily influenced by all its Alpine neighbours. This semi-autonomous corner of Italy is a unique mix of several cultures, quite unlike the regions of the south.
Property buyers with an eye for the rental market will note that Courmayeur is perhaps the best-known ski resort in the northwest of the region, and Breuil-Cervinia equally popular in the northeast. In the south, covering around 15 per cent of the region, is the Gran Paradiso National Park, with stunning natural beauty and wildlife.
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The Process of Buying Property in Valle D’Aosta (Aosta Valley)
- While the amount of Italian red tape is well known, and bureaucracy tends to move rather slowly, buying property in Valle D’Aosta (Aosta Valley) is actually pretty straightforward – if somewhat time consuming
- Anyone wishing to buy property in Valle D’Aosta (Aosta Valley) 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 property in Valle D’Aosta (Aosta Valley) 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 in Valle D’Aosta (Aosta Valley) 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 properties are considered urban
- Residents or those intending to make a permanent move will pay 4% stamp duty
- VAT on new properties in Valle D’Aosta (Aosta Valley) ranges from 10 to 20%, depending on whether the property in Valle D’Aosta (Aosta Valley) 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 Valle D’Aosta (Aosta Valley)
- 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 Valle D’Aosta (Aosta Valley).
Getting there
Aosta has an airport but no direct flights from the UK. There are connecting flights from Turin. There are good road connections from neighbouring countries in the north through the mountains.
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Buying property in Valle D'Aosta