Introduction
Italy possess many different attractions, ranging from the Alps and the Apennines to lakes like Garda. Northern Italy offers extensive areas of woods and farmland whereas southern Italy is more barren.
Sardinia is the second largest island after Sicily in the Mediterranean. It lies to the west of Italy, below Corsica, although part of Italy has retained its own distinct traditions and characteristics.

Real Estate prices
Living costs are lower than northern Europe and vary from the North to the South, the South being cheaper. City costs are equivalent to the U.K
From £40,000 // €60,000 for a small property in need of extensive development.
From £50,000 / €75,000 for a small apartment.
From £80,000 / €120,000 for a rural home.
The Lake and Tuscany apartment prices start at around £100,000 / €150,000.
Apartments in Venice will cost more than £350,000 / €520,000.

Living Cost
Cost of living differs from greatly between the prosperous north, central regions of Italy, and the relatively poor south. In the big cities, it is similar to European countries like Germany and the UK, although generally the cost of living in Italy is slightly lower than northern European countries. Luxury goods like cars can be expensive. Alcohol, on the other hand, is cheaper.

Buying Real States
Most Italian properties are freehold and a deposit of around 10% is usually accepted and paid to a Legal representative. When buying real estate in Italy, one will need to sign a preliminary contract. This can be drawn up by a vendor, agent or a lawyer. The preliminary contract may be preceded by a binding ‘buying proposal’ called a compromesso, where the buyer is legally bound to buy, but the vendor and agent are free to consider other offers. If the vendor decides not to sell after signing the preliminary contract, they must pay double the deposit back. It is wise to check the wording of the deposit, a penitenziale means you will only lose your deposit if you withdraw from the sale, while a confirmatoria would mean the seller could take legal action to force the purchase.
There are 2 kinds of deed in Italy: a private deed and a public instrument. This provides you with more protection but costs slightly more. When a property us bought by private deed and is subsequently found to have a charge against it, such as a mortgage, the Notary cannot be held responsible. However, if a property is purchased by public instrument, you are entitled to seek legal action the Notary for professional misconduct.
You will have to pay the lender about £200 for a valuation and the notary will charge you for registering the mortgage with the land registry. Other one-off costs of buying a home in Italy include a purchase / registration tax 3% - 4% if you take up Italian residence, 10% if you use it as a second home.

Lawyers
A notary is a public official instructed by the buyer to process the transaction. Although the notary acts impartially, it is highly recommended that the buyer employs an English-speaking lawyer to ensure that all aspects of the transaction are independently verified.

Fees / Cost involved in buying property
Total fees for buying a property Italy are usually between 10-20% of the purchase price.
Notary fees vary depending on the price of a property and are higher as percentage on cheaper properties. They are generally about 4% of the declared price.
Legal fees are usually 2% of the purchase price.
Property prices are lower in southern Italy which is poorer and much more arid. Whereas Lake Garda and historic cities like Venice are very expensive

Tax
Income tax is high in Italy and ranges from 10%-60%, Non-residents must submit a tax return stating the details of their Italian property, even though there’s no tax to pay if no income is derived from rental etc. The standard rate of VAT is 19%, with reduced rates to a minimum 4%. VAT is payable on new properties at 9% for non-luxury property. Tax is paid by anyone who owns property or land in Italy whether they are a resident or non resident. Stamp duty can range from 11% to 17%.
Property prices are lower in southern Italy which is poorer and much more arid. Whereas Lake Garda and historic cities like Venice are very expensive

Mortgages
Mortgages are available from most local banks but can take time to be approved. You can usually obtain better terms from foreign financial institutes. Max. loans from local banks on property are usually 50-60% if buying price for second homes and almost 75% for main residence, usually up to 15 years.
Most Italian banks will offer mortgages up to 15 years of between 50 to 60% (75% if a 1st home) Overseas mortgages offer up to 80% and reduce tax exposure
Paperwork
You will need to register with the Police within three days of arriving in Italy. According to the Italian law, you must carry a photo ID with you at all times. Rather than carrying your passport. You will also need a Permesso di Soggiorno, or residency permit, which you have three months to obtain, free of charge, from the town hall. A tax code is necessary, for which you will need to open a bank account or buy a home.

Snippets
Sardinia today it is a place of tranquility and great charm
Popular areas are Tuscany, Umbria, Lombardy and Liguria, the islands Sardinia and Capri and the Italian Riviera.
Overseas investment is encouraged and the Italian economy has been vibrant in the past decade