What are the closing costs involved when purchasing an apartment?
Closing costs vary depending on the house price. Notary fees : they should amount to roughly 1000-1,500 euros for the smaller properties. Property taxes: 1) Taxes involved with property sale transfer in Italy (if buying from a private individual) are: imposta di registro 7% imposta ipotecaria 2% imposta catastale 1% Reductions apply in case the buyer takes residence in the property which becomes their prima casa. The same reductions also apply in the event the property sold is being built anew or restructured. The applicable percentages are therefore reduced as follows: 3% for the registro and Euro 168 fixed rate x 2 (ipotecaria and catastale). If you are planning to become a resident in Italy you should do so before purchasing your house. 2) A property tax called ICI (imposta comunale sugli immobili) needs to be paid annually by the owner (or the person having a life estate and living in the property) to the Comune di Calitri. The rate fixed for 2005 is 0.6%. Every city administration
