Country Guides
Italy
There are compelling reasons why you might think about buying property in Italy, but as one of the top destinations for Brits buying abroad prices can vary.
Italy boasts great food, great atmosphere, and, most importantly, great property too. As romantic as France and as laid-back as Spain, the country really is home to la dolce vita – and long-standing owners of Italian property well know it.
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Italy Country Profile
Capital City: Rome
Area: 301,230 sq km / 116,305 sq miles
Population: 57,998,000
Time Zone: GMT +1
Country dialing code: 39
Currency: Euro
Climate of Italy
The Italian climate can change very dramatically from the north to south. In the north expect cold winters, particularly in the Alps. The South is more mild and the climate is affected by African winds, guaranteeing hot summers!
Accessibility
Flights to Italy are both numerous and reasonably priced, with budget airlines competing for passengers. Another way of getting there is by car or train, across Europe, providing you have the time to spare.
Italy Country Highlights
It's no wonder the Italians are famed for their romance and passion, when the whole county oozes seduction and seems determined to win you over with its charm from the moment you arrive. Whether it's the culture, cuisine or simply stunning scenery there is something for everyone to enjoy.
Permanent move to Italy
EU citizens don't require a visa but if you intend to spend longer than 90 days you must apply for a permit to stay, which you should get from the local police headquarters. A permit to stay isn't a residence permit, which you can apply for at the registry office of your local town hall. You do not officially have to apply for a residence permit if you are an EU citizen staying over 183 days of the year, but it is recommended that you do so as there are several benefits that apply.
Buying property in Italy
Property prices in Italy have been rising, especially in popular areas like Tuscany, but it still remains good value, especially in the more rural areas. If you are thinking of buying a property in Italy, especially in a popular tourist area or one of the cities you will need to spend more and you will find it hard to find anything that could be described as a bargain; although if you are buying as an investment property, these areas will always be in high demand.
Destination Hot Spots
Italian Lakes
The Italian lake district is made up of six lakes that lie near the Swiss border in the region of Lombardy. The three largest lakes of Garda, Maggiore and Como attract the most attention. Lake Maggiore is the second-largest lake after Lake Garda, and its extreme northern end lies within Switzerland. The whole region is a very popular tourist destination and as a place for buying property too. A large villa on the shores of Lake Maggiore can set you back more than two million euros, but apartments with views of the lake, rather than on it, are available from 350,000 euros.
Across to the east is Lake Como, where stars such as George Clooney and Richard Gere have homes. Lake Como, just a half-hour's drive from Milan, is by far the most popular lake area with Brits buying property, who make up 15 per cent of the market in the area. Property in the Lake Como area usually achieves a healthy resale value but, as in all scenic parts of Italy, prices can be steep. Last year a three-bedroom villa with a lake view, private terrace, cellar and covered car parking space sold for 475,000 euros. Small two-bedroom apartments in the Lake Como and Lake Maggiore areas, with lake views and access to a pool and tennis court, were selling for 350,000 euros-plus last year. Because this region is so popular with Italians and so close to the Alps, property prices rise more quickly than most other parts of Italy. However despite the higher price tag buying a house on the lake at Como is a good investment because prices have increased over in the last few years and they remained stable even when the real estate market recorded a notable dip in other regions. This is because the nature of the territory doesn't allow extensive development and house-building so the great demand of houses on the lake cannot be fulfilled.
Tuscany
Probably Italy's best known region, but also one of the most expensive. High demand from hungry British property seekers in this part of Italy seduced by the easy accessibility and stunning Tuscan scenery has pushed prices up. Charmed by picturesque small villages and quaint restaurants dotted throughout the area, the Tuscan market tends to attract business people or those on a good income who are looking to buy for investment or future retirement.
Puglia
Right down on the south of Italy, Puglia is a great alternative to the current trends, with fantastic beaches and a great climate.
Search for property in Italy
Useful websites about Italy:
A good site to introduce you to Italy and its charms
Tourism in the Tuscany region of Italy
Article first published in May 2006


