Le Marche is the region of central Italy which stretches from the beaches of the Adriatic to the snowy peaks of the Appenines, mostly agricultural, but with many medieval towns and a wealth of art treasures.
Le Marche's picturesque villages are full of ancient Churches, Abbeys and Monasteries, all beautifully preserved over the years. Its sunny hills, marked by rows of vines and leafy oak trees overlooking verdant valleys, speak of a natural environment undisturbed by the need of mankind to work the land, the calm beauty of the natural landscape offering the opportunity for rest and reflections in the midst of a sea of intense and velvety green.
This is an area for those wanting a truly rural setting. The villages remain largely unspoilt, built mainly of local stone and they tend to cling to the hillsides with magnificent views across the valleys. The province of Macerata holds second place in Italy for the quality and purity of its water and air, and for the lowest sound pollution in its towns. Foreigners are liked and respected and Italians are flattered that foreigners buy and restore homes here.
Every town and village celebrates its saints days with carnivals and fiestas, great religious events take place in Loreto and in Macerata - the capital of the province - there is the second most important open-air opera house in Italy. Marche is home to the Renaissance masters like Bramante and Raphael amongst others.
Skiing in the Sibillini mountains takes place from December to February with the exact season depending on the weather conditions each year.
Worth a visit are the Frasassi caves - some of the most spectacular limestone caves you are ever likely to see. Limestone again is the leading player at the Furlo Gorge, a dramatic natural pass through the mountains that has been in use since prehistoric times. The area is now a nature park and home to rare flora and fauna; you may even see a golden eagle wheeling overhead.
Various taxes must be paid on purchases. Registration tax / stamp duty (Imposta di Registro) is calculated on the government’s valuation of the property (Valore catastale). This will vary according to whether the property is being purchased as a holiday home, or as your primary residence. For a holiday home stamp duty will be 10% of the valuation. If you are intending to use the property as your primary residence and apply for residency (Prima casa), providing this is done within 18 months of the property transfer then stamp duty will be reduced to 3% for an existing property and 4% for a new build. This will be paid to the Notary on completion of the purchase.
Land registration, mortgage and cadastral taxes also need to be paid to the Notary on completion. These are one-off payments and are around €168 each.
Once the property has been purchased further taxes must be paid. There is a local council tax ICI/IMU property tax (Imposta Comunale sugli Immobili) of 0.4% to 0.9% of the property’s cadastral value. The rate for this is calculated annually by the council and paid bi-annually in June and December. This rate will be reduced if the property is the primary residence (Prima Casa).
If you are not resident in Italy you will have to declare any income gained from activities in Italy to the Italian Tax authorities. This income will also have to be declared in your country of residence, you will need a double taxation agreement to mitigate against paying twice. This declaration will apply to any income you might obtain from letting a property in Italy. Some expenses incurred on the property may be off-set against the income you derive from letting out the property. This can include management expenses, local taxes, repairs etc.
There is one tax which applies only to holiday homes, there will be a 20% Capital Gain on the difference between the buying price and the selling price if the property is sold prior to 5 years ownership.
IMPORTANT - Disclaimer :
All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.
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