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Old 12.08.2017, 14:53
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Second home/Holiday let in Italy - insights?

I was wondering if I could get some insight from anyone who has purchased a second home in Italy.

I cannot afford to buy a house in Switzerland but am keen to have something to call my own and have an investment somewhere. I am looking into Piemonte, Italy since it is not that far from me and need to be there sometimes for work (I have an independent company in the wine business). I can also let it on Airbnb for times when I am not there. I know a number of local people (wine producers) who can probably recommend some people for cleaning, meeting guests, etc.

Renting it out for short-term holiday lets could also off-set the costs and I might even be able to make some money for it in the long-run.

Has anyone on the forum done this in the past or are currently doing this? Did it work out well or not? Might you have any recommendations?

I am aware that one must pay Italy tax as well on the earnings. Does anyone know how that works, how much it costs and if one is able to deduct its furnishings (furniture, stoves, bathtub, etc). and upkeep (cleaning staff, repairmen, etc.) like one can do in the UK and in some other places?

I also am trying to find a place where I could possibly live full-time if push came to shove. However, the tax rate for independent workers is notably unappealing (62-72%)!

Cheers.
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Old 12.08.2017, 17:25
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Re: Second home/Holiday let in Italy - insights?

My friend is Italian and she inherited a house in Italy. She told me that foreigners cannot buy property in Italy, only if they live there.

She also told me that Italian bureacracy is a nightmare. She is lucky to have a good person in the town hall that telephones the bureaucrats and demands to know why they need to know how many trees she has in her garden...
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Old 12.08.2017, 18:03
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Re: Second home/Holiday let in Italy - insights?

Unless you know Italian and the area well, it sounds like you would be buying into a heep of problems.

Property in Italy Is not an investment. I met a financial advisor who had inherited 3 houses. He can sell them, unless he gives them away.

Add to this the agro of renting it out. Who will clean up and change the sheets? Who will keep up the garden? etc etc...
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Old 12.08.2017, 19:30
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Re: Second home/Holiday let in Italy - insights?

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My friend is Italian and she inherited a house in Italy. She told me that foreigners cannot buy property in Italy, only if they live there.
She's wrong.

Tom
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Old 12.08.2017, 22:50
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Re: Second home/Holiday let in Italy - insights?

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She's wrong.

Tom
Yep, you are right! I know a ton of non-Italians who have bought houses in Italy. I was told that it is much more difficult for Swiss people to buy homes but that is because the Swiss has made it more difficult for Italians to buy in Switzerland. But for most others, there are no issues to buy there.

Last edited by Konuku; 12.08.2017 at 23:02.
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Old 12.08.2017, 22:55
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Re: Second home/Holiday let in Italy - insights?

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Unless you know Italian and the area well, it sounds like you would be buying into a heep of problems.

Property in Italy Is not an investment. I met a financial advisor who had inherited 3 houses. He can sell them, unless he gives them away.

Add to this the agro of renting it out. Who will clean up and change the sheets? Who will keep up the garden? etc etc...
I do know Italian and know the area well. It all depends on the area on whether you can sell a house or not. So, do you think a gorgeous house in the heart of Tuscany, for example, must be given away? It is the most sought after region in Italy.

Plus, I have no intention selling for maybe 20 years (who knows for sure).

As I wrote earlier, I have a lot of friends in the area so finding someone to clean, meet guests, etc. would not be an issue. The garden is small and I would go to the house regularly.

I am really looking for guidance from those who have a house there. But thanks anyway.
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Old 12.08.2017, 23:15
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Re: Second home/Holiday let in Italy - insights?

Some good info here on their FAQ...

https://www.piedmontproperty.com/
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