More and more often I receive requests from people living in London, Zurich, Dubai or New York who want to buy a home in Milan. The questions are similar: can it be done remotely? how much does it cost? how long does it take? It can be done, and with the right method it is simpler than it seems. Here are the steps, in the order they come up.
1. The tax code
It is the first document to obtain: it is needed to sign any deed, open an account, register utilities. It is requested from the Agenzia delle Entrate in Italy or, from abroad, from the Italian consulate.
2. Checking the property
Before making an offer the home must be checked: title history, mortgages, planning and cadastral compliance, condominium costs and resolutions, system certifications. In a fast market this is the phase people tend to compress, and it is the most important.
3. The purchase offer
It is made in writing, with the price, the conditions and a sum paid as a deposit. Once accepted by the seller, it binds both parties. It is wise to include the conditions that really matter, such as mortgage approval or a technical survey.
4. The preliminary contract
The compromesso sets out every detail: date of the deed, payments, the condition in which the home will be handed over. It must be registered with the Agenzia delle Entrate. It is often signed before the notary, for greater protection.
5. The deed
The final deed is signed before the notary, who checks everything and registers the transfer of ownership. If the buyer does not speak Italian, an interpreter is mandatory. Those who cannot be in Milan can sign through a notarised power of attorney.
Taxes, in short
- 9%
- registration tax on a second home bought from a private seller
- 2%
- on a first home, if residence is moved to Milan within 18 months
- 4–10%
- VAT when buying from a company, first home or other homes
When buying from a private seller, taxes are calculated on the cadastral value rather than the price, often a substantial difference. Luxury homes, in cadastral categories A/1, A/8 and A/9, cannot benefit from first-home relief.
Buying from afar is not riskier in itself. It becomes so when you delegate without checking.
Two notes for non-EU citizens
For citizens of non-EU countries, purchase is possible where a reciprocity agreement with Italy exists, or for those legally resident. Anyone planning to move permanently should also consider the tax regime for new residents, to be set up with an adviser before buying.
The value of coordination
Notary, bank, surveyor, building manager, translator: those buying from afar need someone to hold people and timelines together. It is the least visible part of my work, and perhaps the one clients appreciate most.
Real estate advisor · Milan