You may be looking for a special place in Venice in which to spend your holidays, or for an apartment to rent out to holidaymakers. Or you may even be planning to retire to the place of your dreams where there’s no need for a car, where friends bump into each other while going about their day and where the airport is close by and accessible by boat. You may be drawn by the investment potential of owning a property in Venice or are simply seduced by the beauty, the food, the art, the architecture and the laid-back lifestyle so often associated with spending time in one of the world’s most timeless and romantic cities.
Identify your requirements by asking yourself –
A. Buying a house in Italy is no more complicated or less safe than buying a house in the UK or US. Generally, there are 3 steps involved in buying a property: the purchase proposal, the preliminary purchase and the final purchase.
The first step relates to the selection of the property, survey, legal and planning searches and initial negotiations. With our assistance you will need to select the property, obtain some basic information and documentation and negotiate the general terms of the purchase. At this stage it would also be necessary to organise a survey and all the necessary checks with the local authorities, as far as local planning and building regulations are concerned. This work is usually undertaken by a local surveyor (Geometra).
The second step is usually spent in negotiating, drafting, signing and exchanging the preliminary contract (Compromesso). The preliminary contract specifies the items and points of agreement made in the offer and turns it into a legally binding private contract. This contract also details all the relevant data of the property, fixes the purchase price, the payment method and sets a date for the final contract.
This last step relates to the completion formalities, which normally take place in the offices of a local Notary. Notaries have a special duty of drafting the Purchase Deed (Rogito) and to ensure the proper execution, registration, and payment of all Italian taxes relating to the completion. Here, in front of the state appointed Notary (Notaio), you will be asked to pay the taxes, stamp duty and fees on your purchase, and on final signature you become legal owner and receive the deeds to the property and the keys.
A. No – if you don’t speak Italian then, by law, the Notary has to appoint a translator for you, the cost of which will be included in the Notary’s fees.
However, learning to speak the language would, without doubt, prove useful and rewarding if you’re planning to immerse yourself in Venice and its culture.
A. The volatility of the international rental market and the rise and fall of exchange rates mean that the holiday rental market is prone to highs and lows at very short notice and so one must be prepared to take the ups and the downs if one wishes to rent out a property. However, in a good year, a week’s holiday rental yield would more than cover any mortgage, running costs and rental expenses.
View on Venice Estates is able to provide you with details and special rates at a number of hand-picked and centrally located Venice hotels where we would be more than happy to stay ourselves or recommend to family and friends.
Alternatively, if you’re planning on visiting Venice for a minimum of 3 days and wish to find out more about the prospect of renting out your property for holidays, then you may be interested in staying at a special rate at one of the fine apartments offered by our rentals partner Views on Venice, an experience which would provide you with a useful first-hand insight into the short rentals service we offer to both property owner and the Venice visitor.
Please enquire for further details when arranging your VOVE property viewings.
Should you wish to arrange an appointment to view a specific or number of properties in Venice, or would simply like to discuss the possibility of buying or selling your place in the city, please feel free to contact us on –
Tel +39 0418505397 • Fax +39 041 2415821