property in Rome
Updated 4 days ago

Like other big European cities, Rome has been experiencing a decline in the real estate market in recent years. Investing in a property can, therefore, be a difficult task sometimes especially when you intend to buy. From the enormous load of administrative procedures to all related expenses, finding your Roman dream house is undoubtedly a lengthy process. Nevertheless, having access to the right information can help make things easier.

Which neighbourhood should you choose?

Before you move in anywhere, you want to make sure you know the neighbourhood that is best suited for you. Apartments actually are more common than houses in Rome as these are mostly built by the sea or in the countryside. Apartments are often equipped with beautiful balconies or even better, a terrace or a penthouse.

Rome can be quite chaotic due to its heavy traffic and massive public transport system. It is, therefore, best to stay near your university or workplace and near your children’s school if you have any to avoid stressful situations and avoid being late.

Other attractive regions are Trastevere, Testaccio, Monti and Aventino for those who wish to stay near the city centre while EUR, which is located in the south of Rome is well known for its newly built apartments and its being away from the buzzing side of the city.

How to look for your next home

To access as many available offers as possible, you can explore two main avenues: checking out paper and online ads both. Out of all the properties for rental or sale in Rome, many are advertised in newspapers. Word-to-mouth can also be of incredible help so you may want to ask around, regardless of whether you are already based in Rome or not.

Newspapers like the Il Messaggero ou Solo can be great starting points. Make sure you check out Porta Portese too as this media channel promotes both printed ads as well as online ones.

Moreover, online platforms like Immobiliare or Idealista offer a wide range of houses and apartments for sale in Rome.

To ensure all transactions are safe, relying on ads published by real estate agencies might be the right way to go. This may imply a few extra expenses, but it will not only help you save time when looking for a property but also benefit from the support and expertise of the agency in all the procedures involved.

What are the procedures?

We have mentioned it before – administrative procedures can test your patience in many ways. Before purchasing a property, make sure you have a tax code (which needs to be done as soon as you reach Italy), your stay permit (in case your country is not part of the European Union) and the Italian taxes. It is essential to declare your place of stay and to apply for an Italian ID card. These may turn out to be extremely useful in case you intend to apply for a loan as some banks do not take forward applications of expatriates who are not holders of such cards. You should also know that some Real Estate agencies and banks do offer loans. Some British money lenders do too.

Once all the procedures have been completed, here is the order in which the acquisition process will take place:

  • You will need to sign a preliminary contract. You can also request a sales agreement.
  • Writing up and signing the sales agreement at an official notary office once the bill of sale has been signed off in front of lawyers.
  • Registering the transaction and the property at the Italian Real Estate Registry and the local authorities.

As a new buyer, you will have to take up the expenses of the Real Estate Agency’s commission which generally varies between 1 and 4 % of the total sale, the lawyer’s fees which accounts for 2% of the registration, the registration tax (4%), the VAT (IVA in Italian) which can go up to 20% and finally, the total taxes which can vary between 0,4 % and 0,7 % of the total worth of the property.

 Good to know:

Italians are very good at negotiation so do not hesitate to do the same or to gather some information about the price range of the neighbourhood you picked. This might help you obtain the best and most reasonable price.

We do our best to provide accurate and up to date information. However, if you have noticed any inaccuracies in this article, please let us know in the comments section below.