Law firm Barba & Partner from Munich advises on 1 euro houses
Qualified legal advice for the purchase of 1 euro real estate in Italy
You have landed on this page searching for the terms “buy house in Italy”, “real estate Italy” or ” purchase property in Italy”. Contact us if you want to buy a house in Italy. When buying a property in Italy, it always makes sense to seek advice from a competent lawyer who is familiar with Italian law. An interesting alternative to an ordinary real estate can be the purchase of a 1 euro house. These are usually located in the old town. You can also find such properties in Italy in the north, although the 1 euro house has become known in the south thanks to the towns of Salemi and Sambuca di Sicilia.
Gain an initial overview of the 1 euro house concept
You might also receive more detailed information about the “1 euro house” at a reasonable price in a first advice session.
For years, interesting articles have been published on the subject of 1 euro houses. There are now countless reports on television about buying 1 euro properties. Nevertheless, buying a 1 euro property often doesn’t work out. Language barriers cause the ambitious project to fail right at the start. The disappointment is great. Many properties, some of which are interesting and attractively priced, remain empty. This does not have to be the case. We offer prospective buyers the opportunity to obtain comprehensive information about purchasing 1 euro houses on site. On request, potential buyers can obtain advice on buying a 1 euro property or on buying a low-priced vacation property in Italy. Take advantage of this unique opportunity instead of abandoning your research on the subject in frustration and giving up on your dream of a reasonably priced vacation property in Italy. With the knowledge you acquire on site, participants can save considerable costs when buying their vacation property.
Legal advice when buying a low-priced property in Italy
Barba & Partner Rechtsanwälte is a German-Italian law firm in Munich. In addition, we also represented in Milan, so that our clients are optimally represented when buying a house in Italy. Native speakers represent buyers in the purchase of a vacation property in Italy. German and Italian lawyers know not only the language but also the mentality and the legal system in Italy.They have particular expertise in real estate law in Italy.
The attractiveness of cheap property in Italy
If clients are interested in buying a low-priced property in Italy, the purchase of a 1 euro property could be an option. Although these need to be refurbished or renovated, they offer a good opportunity to buy a cheap vacation property in Italy. Buying a 1 euro house in Italy can certainly have advantages. There are often municipal subsidy programs that can be used to renovate the house. This allows you to buy a fairly cheap house in Italy. Such a vacation property can be ideal for your own vacation or later as a retirement home. There are often local organizations that take care of renting out the property to tourists, so that such a cheap house can also have a lucrative component. Last but not least, the increase in value of the property should not be forgotten. With the right advice, a cheap house can become a beautiful vacation home that you can enjoy for a long time.
Inheritance planning by donating a property abroad
Buying a property abroad certainly has advantages when it comes to inheritance planning. Estate planning does not only involve the transfer of real estate with usufruct rights. Through clever structuring, you can save inheritance tax in Germany. We are happy to work with German tax advisors in this regard to ensure the best possible arrangements for their clients.
In the following paragraphs, you will find useful information that will provide you with an initial overview. We are happy to advise prospective buyers of affordable vacation properties by telephone, video conference or in our office in Munich. We also offer legal advice on Italian real estate law.
Your law firm for Italian real estate law in Munich and Milan.
Lawyer Salvatore Barba
What is a 1 euro house and where do you find these 1 euro properties in Italy?
A 1 euro house is a property with significant renovation needs, which can usually be purchased from a municipality in southern Italy. In this way, you can buy a house in Italy quite cheaply, regardless of whether you intend to use it as a vacation home or a retirement home. The municipalities offering 1 euro houses are located throughout Italy. There are indeed 1 euro properties on Elba, on Sardinia, in Tuscany and on Lake Garda.A 1 euro house in southern Italy, e.g. in Sicily, Sardinia or Puglia, often has more financial or even non-financial advantages, which we describe here.
What additional costs are incurred for the purchase of a €1 property?
The process of purchasing a 1 euro house is very similar to the process of a normal property purchase in Italy. Only the submission of a binding offer and the conclusion of a preliminary contract are not required. The purchase takes place at the notary’s office. The costs of the notary and the taxes associated with the purchase are borne by the purchaser. These usually amount to 2,000 – 5,000 euros. In addition, usually an insurance policy is concluded and a deposit is paid to the municipality. The purchaser also undertakes to renovate the property within a period of a few years. If this is not accomplished, the property reverts to the municipality and you lose your deposit.
Buying a 1 euro house from a private individual
It can be quite attractive to buy a 1 euro property from a private individual. In this case, there are no restrictions as you are not buying the property in the context of a municipal program.
What will a 1 euro house in Italy cost me in the end?
A 1 euro house will of course end up costing more than just one euro. Nevertheless, the total cost at the end of the real estate project for a house is usually 50,000 to 150,000 euros. Considering real estate prices in other countries, this is a competitive price. This is also true if you consider the cost of a property in popular locations on Lake Garda or in Tuscany. You can’t go on vacation so often in your life that a so-called “1-euro property” becomes more expensive than an ordinary vacation property on Lake Garda, where seven-figure purchase prices are often called for.
What other benefits do I have when buying a 1 euro house?
It is possible to apply for grants for the renovation work, which can reduce the purchase costs even further. Additional income can be generated by renting out the property as a vacation home to tourists. Italy offers private individuals the option of paying a flat-rate tax on rental income. People in the south of Italy reach a very old age. There is a reason for this. The food, the landscape, the culture and the climate are unique.
How can we support you in buying a 1-euro property in Italy?
We accompany the purchase of a 1-euro property from selection to moving in. In some municipalities, we can also provide support after completion of the property thanks to personal contacts. We can connect you with Italian architects, civil engineers, construction companies, notaries, rental agencies and tax consultants, some of whom also speak German or English. We support you to ensure that your real estate project is a complete success until the property is transferred to your children. Such a project is more than just buying a property abroad. Never forget inheritance law.
Aragona, inexpensive properties and good infrastructure
Contrary to what many people think, 1 euro houses are not only located in remote places. The properties shown here are located in Aragona, a small town in the province of Agrigento in Sicily. The town is characterized by its excellent infrastructure.We have special local contacts here that we are happy to put to work for you. We would be pleased to put you in touch with sellers of affordable properties, which you can then convert into a vacation home, for example.
Contact us here. We will be happy to advise you. More information about ->> Real estate in Sicily.
