The IB International Real Estate team has been witnessing an increase of US demand: requests from American buyers are up by 30% this year.
Experts indicate that among the factors propelling Americans to buy property in Italy are a strong dollar, prohibitive property prices in the US, and ongoing political tension.
While Italy is popular with American buyers, some of them are finding that relocation can be hampered by a complicated tax payment system and visa requirements for non-EU citizens. Despite this, they are willing to navigate this terrain not least because Italy offers special initiatives for international buyers.
- In 2017, the flat tax for high net worth individuals was introduced for those who wish to transfer their residence to Italy.
- There are a number of Corporate tax credit incentives encouraging business investment in Italy.
- In 2019 the Italian government extended a program to sell one-euro properties in the countryside to foreign buyers who would pay for renovations and boost the local economy.
- In 2022 Italy is planning to introduce a digital nomad visa for foreigners. This measure may help Americans who will continue working remotely for their home country employer after relocation to Italy.
IB International Real Estate is a full-service multilingual agency operating throughout the Italian Riviera and beyond. A completely independent and unbiased service for international buyers, our Property Finders will scour the market, do virtual viewings, and provide invaluable insider advice on pricing, location, and more leading the buyer through the entire process. Contact us to learn more!
