Panicale Property
Panicale Property

Why Choose PPG

For over twenty years we have built a network of the best professional agents in the most desirable locations. We offer our clients a tailored personal service. We make sure that buying your overseas property, from initial viewings to final purchase, goes as smoothly as possible.

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Panicale Property

Panicale is a medieval hilltop town in Umbria, its long history stretches back to Etruscan times. Today it has kept its charm, there are sights to see and many eateries off the main piazza selling delicious food and wine. Inside the city walls you can steep yourself in history by visiting its ancient buildings including, the Palazzo del Podesti, the Palazzo Pretorio and the church of Saint Michele Arcangelo.

Guide to the Italian Buying Process

1. Making the Offer to Purchase (Offerta)
Once you have found the property you wish to purchase you will start the process by making a formal offer to the vendor, the estate agent will act on your behalf and put forward the offer, a deposit will be made available, generally around (10,000 - 20,000 EUR). Once the vendor has accepted the offer it will be formalised in writing to the vendor in both English and Italian. If this is accepted the deposit (Caparra Confirmatoria) will be paid to the vendor. This will form a legally binding contract. Neither party may withdraw at this point, the sale can be forced by either party or a claim for damages can be made. If the purchaser withdraws their deposit will be lost, if the vendor withdraws the purchaser can claim twice the deposit in compensation.

2. Signing the Preliminary Contract (Compromesso or Contratto preliminare)
The next step will take place between 1 and 3 months after the offer has been accepted, this is a formal agreement between the vendor and purchaser to sell and buy the property, this agreement is the Preliminary Contract and will contain the conditions and terms of the sale. It is important at this stage that you have a full understanding of all the details contained in the contract. We would strongly recommend that you appoint a Notary who is fluent in English. This document will include the purchase price, a detailed description of the property including completion date and will cover any obligations placed upon the buyer and the vendor. All information relating to the property including any planning permissions for the property and the cadastral details (a public record, survey, or map of the value, extent, and ownership of land as a basis of taxation). Once the Preliminary Contract (Contratto preliminare) has been signed a further deposit (Caparra Confirmatoria) will be paid, this will generally be 10% - 20% of the purchase price. There will also be an estate agents Commission Fee (Provvigione) which will need to be paid at this point.

3. Signing the Final Deed of Sale (Rogito or Atto Notarile)
The purchaser must have a bank account in order to make the purchase on completion. The signing of the final deed of sale which will authorise the transfer of the property must be overseen by a Notary (Notaio). The buyer will select and hire the Notary, but they are members of an independent body of public/professionals who will draft the purchase deed, they will oversee the passing of the title legally from the vendor to the purchaser. The Notary will also verify the legality of the documentation and registration with the Conservatoria dei Registri Immobiliari and the Local Land Register.

4. Formalities to be observed after Completion
Foreign buyers should obtain a certified copy of the Purchase Deed (Rogito), which the Notary will have lodged with the authorities. Generally this will be available to collect around 2 – 3 weeks after completion. The Notary will also give you a form to complete for the the local authority (Questura) who will have been given formal notice of the purchase. Your Notary will help you to complete this form. You will need to contact the utilities companies to set up new contracts (power, water, telephone, gas etc.). If the property is a flat, the condominium manager (Amministratore del condominio) should be informed of change of ownership of the property.

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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Taxation

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.

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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.

13 properties

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3 bedroom farmhouse for sale, Panicale, Perugia, Umbria

3 bedroom farmhouse for sale, Panicale, Perugia, Umbria
620,000 EUR

3 bedroom farmhouse for sale, Panicale, Perugia, Umbria

Superbly renovated 3 bedroom farmhouse which was meticulously refurbished between 2014 and 2017, in a typical Tuscan/Umbrian style with exposed stone walls, wooden beams, terracotta flooring and brick...

REF: 215828
  • Floor Size: 160 square metres
  • Plot Size: 20,000 square metres (2.00 hectares / 4.94 acres)
  • Bedrooms: 3
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3 bedroom farmhouse for sale, Panicale, Perugia, Umbria

3 bedroom farmhouse for sale, Panicale, Perugia, Umbria
350,000 EUR

3 bedroom farmhouse for sale, Panicale, Perugia, Umbria

Bright and spacious 3 bedroom stone built farmhouse set within 2 hectares of gardens with olive trees, ideally situated within a quiet setting with panoramic countryside views, yet close to amenities ...

REF: 215308
  • Floor Size: 200 square metres
  • Plot Size: 2,000 square metres (0.20 hectares / 0.49 acres)
  • Bedrooms: 3
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10 bedroom farmhouse for sale, Panicale, Perugia, Umbria

10 bedroom farmhouse for sale, Panicale, Perugia, Umbria
750,000 EUR

10 bedroom farmhouse for sale, Panicale, Perugia, Umbria

Charming agriturismo business for sale in Panicale in a hilly, pretty location with lovely views. The property stands on 13 hectares of land with a lake, and a fenced garden of 2,000 m2 with s...

REF: 209757
  • Plot Size: 130,000 square metres (13.00 hectares / 32.12 acres)
  • Bedrooms: 10
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8 bedroom farmhouse for sale, Panicale, Perugia, Umbria

8 bedroom farmhouse for sale, Panicale, Perugia, Umbria
349,000 EUR

8 bedroom farmhouse for sale, Panicale, Perugia, Umbria

This very attractive farmhouse is presented in very good condition, it is in a dominant position with beautiful panoramic views overlooking the surrounding valley. The stone property comes with...

REF: 180848
  • Floor Size: 400 square metres
  • Plot Size: 2,000 square metres (0.20 hectares / 0.49 acres)
  • Bedrooms: 8
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4 bedroom farmhouse for sale, Panicale, Perugia, Umbria

4 bedroom farmhouse for sale, Panicale, Perugia, Umbria
369,000 EUR
Price Reduced

4 bedroom farmhouse for sale, Panicale, Perugia, Umbria

PRICE REDUCED - Beautifully restored stone built farmhouse, on 2 levels with 4 bedrooms and 5 bathrooms. Located just a couple of km from a lovely hilltop medieval village, in the middle of th...

REF: 171127
  • Floor Size: 300 square metres
  • Plot Size: 5,000 square metres (0.50 hectares / 1.24 acres)
  • Bedrooms: 4
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4 bedroom house for sale, Panicale, Perugia, Umbria

4 bedroom house for sale, Panicale, Perugia, Umbria
248,000 EUR
Price Reduced

4 bedroom house for sale, Panicale, Perugia, Umbria

PRICE REDUCED - Semi-detached house on 2 levels, located near Panicale and Paciano, with a living area of about 130m2, featuring: Ground floor: large kitchen, living room, bedroom and bathroom....

REF: 168409
  • Floor Size: 130 square metres
  • Plot Size: 600 square metres (0.06 hectares / 0.15 acres)
  • Bedrooms: 4
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6 bedroom house for sale, Panicale, Perugia, Umbria

6 bedroom house for sale, Panicale, Perugia, Umbria
690,000 EUR

6 bedroom house for sale, Panicale, Perugia, Umbria

Beautiful house with stunning views over the Umbrian hills, 6km from the centre of Castiglione del Lago. Typical structure with brick tower. Wooden beams. Currently a part of the house used as a resid...

REF: 154588
  • Floor Size: 200 square metres
  • Plot Size: 3,400 square metres (0.34 hectares / 0.84 acres)
  • Bedrooms: 6
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2 bedroom apartment for sale, Panicale, Perugia, Umbria

2 bedroom apartment for sale, Panicale, Perugia, Umbria
400,000 EUR

2 bedroom apartment for sale, Panicale, Perugia, Umbria

Situated in the historical centre, an elegant apartment of 125m2, on the second floor of an ancient building in the main square of Panicale, composed by: small entrance hall with wonderful fireplace, ...

REF: 153559
  • Floor Size: 125 square metres
  • Bedrooms: 2
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6 bedroom farmhouse for sale, Panicale, Perugia, Umbria

6 bedroom farmhouse for sale, Panicale, Perugia, Umbria
1,500,000 EUR

6 bedroom farmhouse for sale, Panicale, Perugia, Umbria

Beautiful stone farmhouse, situated in the countryside between Panicale and Paciano and surrounded by fields of sunflowers and vines. The house was recently restored to top standards and is full of ch...

REF: 153465
  • Floor Size: 400 square metres
  • Plot Size: 3,000 square metres (0.30 hectares / 0.74 acres)
  • Bedrooms: 6
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8 bedroom farmhouse for sale, Le Mura, Panicale, Perugia, Umbria

8 bedroom farmhouse for sale, Le Mura, Panicale, Perugia, Umbria
550,000 EUR
Price Reduced

8 bedroom farmhouse for sale, Le Mura, Panicale, Perugia, Umbria

PRICE REDUCED - Ancient stone built tower-house, on 4 floors, comprising of: Ground floor: large hall, bathroom, store room, cellar, living area, study and room. First floor: kitchen, li...

REF: 153462
  • Floor Size: 550 square metres
  • Plot Size: 8,400 square metres (0.84 hectares / 2.08 acres)
  • Bedrooms: 8
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