Property to buy
Property to rent
Holiday lets
Buying Property
Buying Property in Tuscany
The cost of buying a property in Tuscany including new law of January 2006
Main Residence - Definition:
1. The property will become a permanent resident within 18 month of purchase
2. The house is not a luxury home and must be less than 250 m² of living space
3. You do not own another property in the same district
4. You do not already have a main home in Europe
Costs for buying from a private owner:
Taxes will be calculated on the basis of the value of the property in the property register, and will no longer be calculated on the declared value. The notary is legally obliged to offer a 30% discount on his invoice.
Example for a purchase of €500,000:
3% Imposte di Registro (Registration tax) appr. € 6,000 Imposta di Registro
168 € Imposte Catastali (Stamp duty) € 168 Imposta Catastale
168 € Imposte Ipotecarie (Local tax)) € 168 Imposta Ipotecaria
1 to 1,5 % Notary € 7,500 Notary (including VAT)
3%+VAT Commission € 18,000 Commission
(4% IVA (VAT) for a purchase within 4 years of the construction)
Approximate total purchase price = € 531,836
Costs for buying from a developer or constructor:
Example for a purchase of €500,000:
3% IVA (VAT) € 15,000 IVA
168 € Imposte di Registro (Registration tax) € 168 Imposta di Registro
168 € Imposte Catastali (Stamp duty) € 168 Imposta Catastale
168 € Imposte Ipotecarie (Local tax)) € 168 Imposta Ipotecaria
1 to 1,5 % Notary € 7,500 Notary
3%+VAT Commission € 18,000 Commission
Approximate total purchase price = € 541,004
A further 20% needs to be added if you are buying from a registered Company, which is neither a builder or a constructor, but this is a very rare occurrence
Holiday home
Costs for buying from a private owner:
Taxes will be calculated on the basis of the value of the property in the property register, and will no longer be calculated on the declared value.
Example for a purchase of €500,000:
7% Imposte di Registro (Registration tax) appr. € 14,000 Imposta di Registro
1% Imposte Catastali (Stamp duty) appr. € 5,000 Imposta Catastale
2% Imposte Ipotecarie (Local tax)) appr. € 10,000 Imposta Ipotecaria
1 to 1,5 % Notary appr. € 7,500 Notary(incl. VAT)
3%+VAT Commission € 18,000 Commission
Approximate total purchase price = € 554,500
Costs for buying from a developer or constructor:
Example for a purchase of €500,000:
10% IVA (VAT) € 50,000 IVA
If the property is a luxury home offering more than 250 sqm the VAT is 20% ( € 100,000 €)
168 € Imposte di Registro (Registration tax) € 168 Imposta di Registro
168 € Imposte Catastali (Stamp duty) € 168 Imposta Catastale
168 € Imposte Ipotecarie (Local tax)) € 168 Imposta Ipotecaria
1 to 1,5 % Notary € 7,500 Notary
3%+VAT Commission € 18,000 Commission
Approximate total purchase price = € 546,004
A further 20% needs to be added if you are buying from a registered Company, which is neither a builder or a constructor, but this is a very rare occurrence
You should also include in your calculations:
" Mortgage cost of 1.25% for second home and 0.5% for main residence.
" Lawyer fees are 2% + VAT (optional)
Click to download: GUIDA FISCALE alla COMPRAVENDITA della CASA
The cost of buying a property in Tuscany including new law of January 2006
Main Residence - Definition:
1. The property will become a permanent resident within 18 month of purchase
2. The house is not a luxury home and must be less than 250 m² of living space
3. You do not own another property in the same district
4. You do not already have a main home in Europe
Costs for buying from a private owner:
Taxes will be calculated on the basis of the value of the property in the property register, and will no longer be calculated on the declared value. The notary is legally obliged to offer a 30% discount on his invoice.
Example for a purchase of €500,000:
3% Imposte di Registro (Registration tax) appr. € 6,000 Imposta di Registro
168 € Imposte Catastali (Stamp duty) € 168 Imposta Catastale
168 € Imposte Ipotecarie (Local tax)) € 168 Imposta Ipotecaria
1 to 1,5 % Notary € 7,500 Notary (including VAT)
3%+VAT Commission € 18,000 Commission
(4% IVA (VAT) for a purchase within 4 years of the construction)
Approximate total purchase price = € 531,836
Costs for buying from a developer or constructor:
Example for a purchase of €500,000:
3% IVA (VAT) € 15,000 IVA
168 € Imposte di Registro (Registration tax) € 168 Imposta di Registro
168 € Imposte Catastali (Stamp duty) € 168 Imposta Catastale
168 € Imposte Ipotecarie (Local tax)) € 168 Imposta Ipotecaria
1 to 1,5 % Notary € 7,500 Notary
3%+VAT Commission € 18,000 Commission
Approximate total purchase price = € 541,004
A further 20% needs to be added if you are buying from a registered Company, which is neither a builder or a constructor, but this is a very rare occurrence
Holiday home
Costs for buying from a private owner:
Taxes will be calculated on the basis of the value of the property in the property register, and will no longer be calculated on the declared value.
Example for a purchase of €500,000:
7% Imposte di Registro (Registration tax) appr. € 14,000 Imposta di Registro
1% Imposte Catastali (Stamp duty) appr. € 5,000 Imposta Catastale
2% Imposte Ipotecarie (Local tax)) appr. € 10,000 Imposta Ipotecaria
1 to 1,5 % Notary appr. € 7,500 Notary(incl. VAT)
3%+VAT Commission € 18,000 Commission
Approximate total purchase price = € 554,500
Costs for buying from a developer or constructor:
Example for a purchase of €500,000:
10% IVA (VAT) € 50,000 IVA
If the property is a luxury home offering more than 250 sqm the VAT is 20% ( € 100,000 €)
168 € Imposte di Registro (Registration tax) € 168 Imposta di Registro
168 € Imposte Catastali (Stamp duty) € 168 Imposta Catastale
168 € Imposte Ipotecarie (Local tax)) € 168 Imposta Ipotecaria
1 to 1,5 % Notary € 7,500 Notary
3%+VAT Commission € 18,000 Commission
Approximate total purchase price = € 546,004
A further 20% needs to be added if you are buying from a registered Company, which is neither a builder or a constructor, but this is a very rare occurrence
You should also include in your calculations:
" Mortgage cost of 1.25% for second home and 0.5% for main residence.
" Lawyer fees are 2% + VAT (optional)
Click to download: GUIDA FISCALE alla COMPRAVENDITA della CASA