Below are the answers to some of the most commonly asked questions by those researching Italy for their chosen overseas property location.
Can foreign nationals own property in Italy?
Yes, Italy is open to investment from foreign nationals. The majority of investors are from fellow EU states and property transactions are generally straightforward and do not openly penalize overseas residents. However it is worth noting that as a resident of Italy your purchase costs can be halved.
Why should I choose Italy?
The Italian property investment opportunity is huge and the best thing is that most people do not know about it.
If you seek high quality investment property in stunningly beautiful rural locations, Italy is a good choice. Today this industry is growing fast and investors are finding many previously undiscovered, though highly desirable rural retreats tucked away in idyllic surroundings. Tourism and property investment today is generally concentrated in the rural areas and today certain grants are available from the government to reform rural properties. Healthy returns of 10-20% are achievable in carefully selected locations.
Meanwhile properties within the favourite cultural cities of Rome, Florence or Venice are also attractive to those willing to invest at much higher prices.
Italy is at the very hub of the low cost flights revolution and is easily accessed by air from all major airports. Added to this a consistently warm and sunny climate year-round and an easy lifestyle, is a constant draw for visitors.
What is the economic and political situation?
The Italian economy has changed dramatically since the end of World War II from an agriculturally based to an industrial country. Despite an economic crisis in 2004, Italy has today recovered as a strong economy and is ranked as the fifth largest economy in terms of USD exchange rates and belongs to the Group of Eight (G8) industrialized nations. It has close trade ties with other EU member countries.
Italy was a founder member of the EU and is a strong supporter in NATO. The Italian Government seeks to obtain agreements with other European countries on various defense and security issues within the EU as well as NATO. European integration and the development of common defense and security policies continue to be a main objective of Italy’s political agenda.
In May 2006, the Italian parliament chose the Democratic Party’s, Giorgio Napolitano as the President of the Republic and his term will last until 2013.
How do we travel to Italy?
You can fly to any of Italy’s major airports at; Milan, Rome, Florence, Pisa, Venice, Naples, Palermo (Sicily), Alghero or Olbia (Sardinia).
The North: You can reach Milan, Bologne and Venice through Ryanair and EasyJet where currently a budget return ticket will cost around £200. Ryanair flies direct to Pisa in Florence from Stansted, Liverpool or Glasgow.
Central Italy: Budget flights to Rome are easily available from most airports. However central Umbria is less accessible and at £ 300 you may have to pay a little more than to Rome using British Airways or Alitalia. EasyJet direct flights to Olbia in Sardinia start at around £ 200 return.
The South: Ryanair offer direct daily return flights from Stansted to Brindisi and Bari airports in southern Puglia for around £200. You may also fly direct from Stansted to Palermo in Sicily using Ryanair. EasyJet operates return flights to Naples from Stansted for approximately £190.
Is a visa required to enter Italy?
No visa is required to enter Italy. For stays over 90 days, however, you will need to apply for a residence permit (permesso di Soggiorno).
What is the direct flying time from UK to Italy?
Direct flying time to Italy from London is approximately 2 hours and 15 minutes.
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