Sicily, one of the most beautiful regions in Italy, with its stunning landscapes, rich cultural heritage, and iconic cities like Siracusa, Noto, Palermo, has long attracted property buyers from around the world. Whether you're looking for a vacation home, a retirement destination, or an investment opportunity, Sicily offers a real estate market with something for everyone. This guide provides a comprehensive overview of the process, benefits, and considerations of buying property in Sicily (and Italy as well) as a foreigner, updated for 2025.
What is Italy like? Italy is a member of the European Union and part of the Eurozone, using the Euro (€) as its official currency. It ranks as the sixth largest country in Europe and is renowned for its diverse geography, from the rolling hills of Tuscany to the stunning coastlines of the Amalfi Coast and the historic cities like Rome and Florence. Why invest in Sicily & Italy? Italy’s property market has long been attractive due to its cultural wealth, strategic location, and varied landscapes. The country is celebrated for its artistic heritage, fine cuisine, and Mediterranean lifestyle, offering a high quality of life for both residents and investors. Italy enjoys over 7,600 kilometers of coastline (4,722 miles), much of it famous for its dramatic cliffs, picturesque villages, and beautiful beaches. The country experiences a diverse climate, with hot Mediterranean summers in the southern regions and cooler winters in the northern regions, especially near the Alps. As one of the most visited countries in the world, Italy saw a resurgence in tourism in 2023 and 2024, welcoming approximately 65 million international tourists in 2023 (source: Bank of Italy). Tourism contributes significantly to Italy's economy, accounting for about 13% of its GDP. The rise in tourism has also spurred growth in property demand, especially in coastal areas and historical cities. With property prices steadily recovering post-pandemic, Italy remains an appealing destination for real estate investors seeking to capitalize on tourism, lifestyle, or long-term investment opportunities. Can non-EU citizens easily purchase property in Sicily? Yes, non-EU citizens can purchase property in Italy, but the process varies depending on a few factors. Italy does not have strict restrictions on property ownership for foreigners, but the ease of purchase largely depends on whether there is a reciprocity agreement between Italy and the buyer's home country. Reciprocity principle Italy applies the reciprocity rule, which means non-EU citizens can buy property in Italy if their home country allows Italian citizens to purchase property there under similar conditions. The Italian Ministry of Foreign Affairs maintains a list of countries with reciprocal agreements. Visa requirements While purchasing property does not automatically grant residency or citizenship, buyers from non-EU countries may need a visa if they plan to stay in Italy for more than 90 days. However, simply owning property does not grant the right to stay indefinitely in the country. Golden Visa program Italy offers an Investor Visa for those investing large sums in the country, which could include real estate. This visa grants residency under certain financial thresholds but is more suitable for large-scale investors. What is the step-by-step process for buying property in Sicily ? 1. Obtain a Codice Fiscale (Tax Code) The Codice Fiscale is a tax identification number required for conducting significant financial transactions in Italy, including buying property, opening a bank account, and paying taxes. For foreign nationals, obtaining the Codice Fiscale can vary depending on residency status: Non-EU citizens can obtain the Codice Fiscale at the Sportello Unico per l’immigrazione (Single Desk for Immigration) when applying for entry into Italy for employment or family reunification purposes. It can also be issued by the Questura (Police Headquarters) when applying for or renewing a residence permit. In other cases, you can apply for the Codice Fiscale at any office of the Agenzia delle Entrate (Italian Revenue Agency) by submitting a request that includes your personal data and residence address. The card will be sent to your designated address. The application typically requires: The process is generally straightforward, and the Codice Fiscale can be issued instantly in person at the Agenzia delle Entrate. 2. Open an Italian bank account A local bank account is essential for managing the payments related to your property purchase, including the deposit, final purchase price, taxes, and utility bills. To open an Italian bank account, you will generally need to provide: Many Italian banks now offer online banking services in English, making it easier to manage your finances remotely. 3. Start searching for properties You can begin searching for properties by exploring online listings to find options in your preferred location. It’s recommended to hire a real estate agent (agente immobiliare) who understands the local market and can guide you through the process, especially since property laws and regulations may differ across Italy. Agents can also help negotiate prices and facilitate communication in Italian, if necessary. 4. Find the right real estate agent The right real estate agent in Italy can offer valuable insights into the local market, assist in identifying properties that match your requirements, and guide you through the negotiation process. Here’s how to ensure you select the best professional for your needs: Local expertise: Choose agents who have extensive knowledge of the area where you wish to buy. They should be familiar with local property values, market trends, and any regional regulations that could impact your purchase. Language skills: If you are not fluent in Italian, it's essential to find an agent who can communicate effectively in your language. They will act as a key liaison between you and other parties, such as sellers, notaries, and lawyers. Experience and credentials: Look for agents with a proven track record of working with foreign buyers . Contact me directly fore more information ???? 5. Conduct property viewings Visit potential properties in Italy to evaluate their condition, location, and suitability for your needs. It's important to physically inspect the property and its surroundings, as well as take note of any potential repairs or renovations that may be required. 6. Legal checks and due diligence The Land Registry (Catasto) in Italy is essential for verifying the legal status of the property. It’s important to ensure that the property is free from any debts, encumbrances, or legal disputes, and that the seller has the right to sell the property. This can be confirmed by requesting an ispezione ipotecaria (a search of the land registry records). Additionally, verify that the property complies with local zoning and urban planning laws (Piano Regolatore), especially for rural or new developments, where restrictions may apply. It is highly recommended to conduct a property survey (perizia tecnica) by hiring a surveyor (geometra) or an engineer to assess the physical condition of the building. This can uncover any structural issues, problems with utilities, or land use that may affect the value or safety of the property. 7. Make an offer With the help of your real estate agent, make an offer on the property. Once the offer is accepted, you can move on to the preliminary contract stage. 8. Sign the preliminary contract (Compromesso) This preliminary agreement between the buyer and seller (compromesso or contratto preliminare) outlines the terms and conditions of the sale and typically requires a deposit from the buyer (usually 20% to 30% of the purchase price). This contract secures the transaction and commits both parties to proceed with the sale. If the buyer withdraws from the deal, they lose the deposit. If the seller withdraws, they must pay the buyer double the deposit amount. 9. Finalize mortgage arrangements (if applicable) If you are financing your property purchase with a mortgage, finalize the terms with your bank at this stage. Italian banks typically require a valuation of the property before finalizing the loan. 10. Sign the deed of sale (Rogito Notarile) The final step in the process is signing the deed of sale (rogito notarile) before a notary (notaio), which officially transfers ownership of the property. The buyer must pay the remaining purchase price and any associated taxes and fees at this time. Both parties must present their identification, proof of deposit payment, and any mortgage details (if applicable). The notary also ensures that all legal requirements have been met and that the property is free from liens or other legal issues. 11. Register the property After signing the deed, the new owner must register the property with the Agenzia delle Entrate and update the records at the local Land Registry (Catasto) to ensure legal protection. 12. Pay associated taxes and fees Buyers in Italy are responsible for several taxes and fees, depending on whether the property is new or resale: Taxes for new properties
It's advisable to hire a lawyer (avvocato) specializing in Italian property law to ensure that all legal checks, contracts, and paperwork are handled correctly. They can also negotiate on your behalf and ensure your rights are protected. Some valuable resources for official information include: 13. Transfer utilities Once the property has been registered, you’ll need to transfer utilities (electricity, water, gas) into your name and set up local services, such as waste collection or internet. How can I get a mortgage in Italy? Many Italian banks such as Unicredit, Intesa Sanpaolo, and Banca Nazionale del Lavoro (BNL) offer mortgages to foreigners, but the terms and conditions may differ from those for residents. Non-residents typically face stricter criteria and may have to provide more documentation. Interest rates for mortgages in Italy fluctuate depending on the bank and your financial profile. For example, as of 2025, Intesa Sanpaolo offers rates starting at around 3.80% for non-residents, while Unicredit may offer slightly lower rates at 3.50%, depending on the loan terms and financial circumstances of the buyer. Rates tend to vary according to whether the loan is fixed or variable, and the overall economic climate. How to obtain a mortgage To apply for a mortgage in Italy as a non-resident, you will typically need the following documents: It’s advisable to approach multiple banks for mortgage pre-approval to compare rates and loan conditions before making a commitment. Italian banks are increasingly open to receiving documents in English, but some might still request translations, especially for official documents like tax returns or credit reports. Once the mortgage is approved, the bank will manage much of the legal and administrative work, including the registration of the mortgage with the notary. Special considerations for non-residents Non-residents in Italy are typically required to provide a higher down payment, usually around 30% of the property's purchase price or appraised value. Italian banks often offer mortgages covering up to 70% of the property's value for non-residents. In addition, non-resident mortgages may have slightly higher interest rates than those for residents, reflecting the increased risk of lending to international buyers. It’s essential to factor in the additional costs associated with purchasing property in Italy, such as taxes, notary fees, and legal fees, which typically amount to around 7%-10% of the property’s price. If you want to buy a property in Sicily contact me! If you haven't subscribed to my newsletter yet, now is the time to do so. Follow me on LinkedIn to stay updated on news and topics in the real estate industry. A presto! #realestate #investors #Italia #investment #businessdevelopment #buyhome #sicily #assetmanagement #propertymangement #shortrental #Siracusa #Noto #Palermo #trophyasset #luxury