The unofficial way the Italian property market works
A behind the scenes view of buying a house in Italy
If you're considering buying a house in Italy then here are some practical tips you might like to consider.
When you start comparing prices, you will soon discover that there is no obvious logic about what is being asked for a particular property or home of a similar size or in any particular condition, location etc. How can this make sense? Well, the simple answer is that it doesn't have to. To the Italian mind, a property is worth whatever the vendor deems fit and while the average Italian estate agent might grumble a bit about the seller's expectations being unrealistic, the great Italian love of non-confrontation will override and the estate agent will limply announce some highly inflated price for the most unlikely building.
So, do you negotiate down to a more realistic price? Well, again, the answer is almost certainly going to be no. Having been shown around a semi-derelict house with more than its share of damp, rotten timbers and uneven floors, the vendor will grab you in a bear-hug (from which escape is impossible) and insist you take coffee with him to discuss financial matters. After your obligatory two sips of the thick tarry substance that constitutes coffee to the Italian taste, several bear hugs and a photo-opportunity with his whole family, it has become impossible to 'insult' the vendor by offering anything other than the full price. So, you make your excuses, say you'll 'think about it', get back in the car and drive on to the next pile of rubble which the estate agent unenthusiastically mutters could 'benefit from some attention'.
The problem lies in the way in which property is sold here. Buying a house in Italy is not such a commonplace activity as it is elsewhere in Europe. Sons tend to stay at home even after they are married with the original family house being extended to accommodate the new wife and, of course, their children. As a result, the property market is permanently static and there is not the expectation of selling a house that one finds elsewhere.
For example, we have just sold our first house in Italy and it was on the market for several years. That had nothing to do with the price nor its location (a superb view over many square miles of Umbrian National Park and mountains) but was entirely related to there just not being enough interest in property generally. Before that we had sold two houses in Britain which were only on the market for a few months before being snapped up.
Another issue over buying a house in Italy is that the Italians have a different idea of what makes an ideal home. To the Italian eye, a house close to a road is an asset as it saves on driving time. To me, a house or land close to a major road means pollution, noise, danger for our pets and a permanent threat of a compulsory purchase order stripping us of any land we might have had in order to widen the existing road and thus persuade even more vehicles to spray their exhaust fumes over our garden.
Finally, there is a real Italian tendency towards a smug "We know best" whereby they regard their ignorance of other attitudes and points of view as an asset, ignoring anything which does not support their own philosophy.
So, unless the Italian estate agent is familiar with British clients (and many of them still aren't), if you do not firmly lay down the ground rules first you will not be shown the type of properties you are really looking for.
That said, the whole process is generally fairly user-friendly and, unlike other countries which almost deliberately seem to view ex-pats as mugs, the system here in Italy is even-handed to both native and immigrant alike with the Notary sitting in to see the law is complied with and that fairplay has taken place.
Good luck with buying a house in Italy!
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