Investment property: Italy

Updated 6 October 2026

A foreigner can buy an apartment, house or commercial premises in Italy.

EU citizens buy on the same terms as Italians, others on the basis of reciprocity with their country, and everyone needs an Italian tax code for the deal. The key thing to know in advance: Italy has no residence permit for buying property. A flat helps you get a visa but does not give one by itself.

Does property give residence in Italy

• Elective residence visa. It is granted to people moving to live on a stable income not from employment. According to the Italian consulate, the income benchmark is about EUR 31,000 a year, about $34,800, and you need housing in Italy. A purchased flat meets the housing requirement, but income still has to be proven. This visa does not allow work.
• Investor visa. It is granted for EUR 2 million in Italian government bonds, EUR 500,000 in shares or bonds of Italian companies (EUR 250,000 in innovative startups) or EUR 1 million for projects of public interest, according to the investor visa programme. Property is not on the list.

More on the routes on our Italy residence permit page.

What the purchase costs to complete

When buying from a private seller, registration tax is calculated on the cadastral value, usually lower than the price, rather than on the price: 2% for a first home and 9% for a second. Two fixed taxes of EUR 50 each are added. A non-resident gets the first-home relief only by moving and registering residence in the same municipality within 18 months, according to the Italian tax authority. When buying from a developer, VAT replaces registration tax: 4% for a first home and 10% otherwise. The notary and, if involved, an agent's commission are separate. An owner of a second home pays municipal property tax every year.

Who can buy without restrictions

Citizens of the EU and the European Economic Area buy on general terms. For citizens of other countries the reciprocity principle applies: a purchase is possible if their country lets Italians own property, which is checked against the Italian Ministry of Foreign Affairs records. No check is needed if the buyer's country has an investment protection treaty with Italy, or if the buyer holds an Italian residence permit for work, business, family or study.

How the purchase works

1. Tax code. We obtain it from the tax authority or a consulate.
2. Property check. Title, encumbrances, conformity with the cadastre and building permits.
3. Preliminary contract. The deposit and deal timing are fixed in writing.
4. Notarial deed. The notary checks the property, withholds taxes and registers the transfer.
5. Utilities and taxes. Transferring utility accounts and registering with the municipality.

Risks

• Counting on residence for a purchase: no such route exists.
• A mismatch between the actual layout and the cadastre: the notary may refuse to execute the deed.
• Losing the first-home relief by not moving in time: extra tax and a penalty.

Can a Russian citizen buy property in Italy

Yes. For citizens of non-EU countries Italy applies the reciprocity principle, and Russian rules allow Italians to own homes, so a Russian citizen can buy an apartment or house in their own name without a residence permit. An Italian tax code is required; it is obtained from the tax office or a consulate.

The difficulty is payment. EU sanctions rules prohibit banks from accepting deposits above 100,000 euros, about $113,000, from Russian citizens without an EU residence permit, and the notary records the payment method in the deed and checks the source of funds. So the payment route is planned before the deposit.

Apartment prices by city

Prices are average asking prices in 2026 in US dollars at the European Central Bank rate, rounded up. In the third quarter of 2026 prices nationwide fell 1.1% quarter on quarter, in Milan 1.7%, while in Rome they rose 0.7%. Outside the big cities and tourist regions homes cost several times less.

The asking price in Italy is usually above the final one: negotiating a few per cent off is common practice, especially on the resale market outside the big cities.

Owner taxes: rent and sale

• Annual tax. The owner of a second home pays municipal property tax at a base rate of 0.86% of the revalued cadastral value; the municipality can raise it to 1.06%.
• Long-term letting. A flat 21% tax can be chosen, or 10% for agreed-rent contracts.
• Short-term letting. 21% for the first apartment and 26% for the second and subsequent ones.
• Sale. If the property is sold within 5 years of purchase and was not the main home, the gain is taxed; a flat 26% can be paid through the notary.

In 2023 Russia suspended the main articles of its double tax treaty with Italy, so tax on rent is paid in Italy and the credit in Russia works only partly. A Russian tax resident declares the income and notifies the tax office of an account in an Italian bank.

How to buy property in Italy remotely

The deed is signed before a notary, and a representative under a power of attorney can do it for the buyer. It is executed at an Italian consulate or before a notary in your country of residence with an apostille and an Italian translation. The tax code can be obtained through a consulate, while the property check, preliminary agreement and registration are handled locally.

Buyers usually come in person once - to open a bank account. If the purchase is needed for the elective residence visa, the home must be secured before documents are filed with the consulate.

For the deal you prepare an international passport, source-of-funds documents - statements, contracts, income returns - and, if buying through a company, its constitutional documents and beneficial owner details. Foreign documents need an apostille and a Italian translation, so they are ordered in advance while the property is being checked.

What we do

We help choose a property for your purpose, whether a home for moving on an elective residence visa, an investment or a family house, check title and cadastre, and support the notarial deal with locally licensed partners. If a visa is needed, we align the purchase with the consular application.

What we do

• Property shortlist for your investment goal
• Legal due diligence on the property
• End-to-end transaction support
• Ownership structuring (company, trust)
• Property management and letting

See also

Company formation · Business account · Personal account · Country taxes · All country programs

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