Italy! Possibly no other country on the planet has contributed more to the disciplines of architecture, fashion, opera, painting, sculpture, culture, and gourmet cuisine... not to mention soccer.
The country offers an incredible range of natural landscapes and historical sites. The north features the Lake District and Alpine ski resorts, the coastline is home to quaint villages along pristine beaches, and scattered throughout the country are stylish historical cities such as Florence, Milan, Naples, Siena, Turin, Venice, Rome, and the Vatican, home to the world's premier art collections. If this isn't enough, it is also a shopping paradise.

The boot-shaped peninsula, extending into the central Mediterranean Sea, is a rugged, mountainous country of absolutely stunning scenery. Beyond its magnificent coastline are the popular island destinations of Sardinia and Elba to the West, and Capri, Ischia and Sicily in the South.

Italy is renowned for its olive oil, pasta, pizza, wine, sunshine, and great weather throughout the year. Simply stated, it is "la dolce vita" (the sweet life), and many visitors to this incredible country hope never to leave. With the world's most famous celebrities and fashion designers choosing Italy year after year, this gorgeous country never goes out of style.

Italy's climate varies significantly from north to south. For instance, November may be freezing in Milan, partly cloudy at around 20 degrees Celsius (70 degrees Fahrenheit) in Rome, while hot and sunny in Palermo.  In the mountainous northern regions, summers are cooler than in the country's Mediterranean south, while winters are known to be cold and snowy.  The coastal areas feature milder winters and are generally hot and dry in the summer.  With increasing proximity to the equator, conditions become progressively hotter and drier under consistently sunny skies.  In the southernmost regions and in Sicily, temperatures are high in summer while fall and winter can be wet and rainy.

The Italian currency is the Euro. As the 6th largest economy in the world, property investment here is safe and rewarding. The country's most famous exports are in the following industries:
- Fashion (Armani, Valentino, Versace, Dolce & Gabbana, Roberto Cavalli, Benetton, Prada, Luxottica)
- Food (Ferrero, Barilla Group, Martini & Rossi, Campari, Parmalat)
- Luxury Vehicles (Ferrari, Maserati, Lamborghini, Pagani)
- Motoryachts (Ferretti, Azimut)

Italy. Sweet, sweet life!

One can hardly imagine a better country for tourism than Italy, where every city is rich in tradition and history. The country has islands (Sardinia, Sicily, Ionian Islands), seas (Thyrenian, Mediterrean), mountains, lakes, and - most notably - breathtaking cities featuring remarkable architecture, culture, cuisine and character. Moreover, the country benefits from excellent transportation infrastructure with quality roads, fast trains, and direct access to numerous airports, making it highly accessible to tourists from around the world.
So, what is great about Italy? In a nutshell, everything. As a property investment company, we particularly recommend Calabria, where the real estate prices are still reasonable and the relaxation opportunities are unlimited.

The offer of purchase
The property buying process begins with an offer of purchase signed by both parties.  This document contains details about the property, the agreed price, and the terms and conditions of payment. The purpose of the offer of purchase is to take the property for sale off the market, usually for a period of 30 days. A sum of 3,000 Euro from the buyer is required with the signing of this agreement, which forbids the developer from negotiating sale of the same property with other potential clients for the duration of the aforementioned period.
Within 30 days of signing the agreement (under penalty of losing the 3,000 euro deposit, the parties sign a preliminary sale agreement - a particularly crucial step in the procedure.  Despite being called "preliminary" sale agreements, these documents are the most legally binding under the regulations and provisions of Italian Civil Code. Consequently, property purchases in Italy follow the preliminary sale agreement with a deed of sale

Pursuant to art. 2932 c.c., the preliminary sale agreement is enforceable through judicial order in the event that one of the parties should fail to fulfill their obligations. The sale of planned properties through preliminary sale agreements is fully regulated by a recent law (d. lgs. 122/2005), which serves to protect the buyer and their investment.

Every preliminary sale agreement must contain:
• detailed cadastral description of the land (location, boundaries, ownership, tenure, etc);
• proof of ownership of the land and related title deed(s);
• legal and financial clearance of the property (any existing mortgages or other legal burdens must be fully detailed);
• existing planning authorizations (building permission, authorization for lotting);
• duration of planned construction and the precise time when the property will be finished, transferred and handed over.

The content of the preliminary sale agreement
Per the aforementioned regulation, it is not mandatory that building permission be issued prior to purchase. Any preliminary sale agreement may be signed legally if the developer has submitted the application for permission to build (in such situations, the registration number of the application must be noted in the agreement). Regarding features of the future property, the preliminary sale agreement must include a complete description of the construction plans. Any contract must therefore contain as appendix describing:
• the plan of the entire development;
• the plan of the single building unit;
• a detailed description of the building specifications, which the developer must follow carefully during construction.

Payment of deposit and guarantee
Along with signing the preliminary sale agreement, the buyer shall pay a deposit called “caparra confirmatoria," usually approximately 40-50% of the agreed price. The payment of this sum will obviously count towards the total cost, but should the buyer fail to complete the purchase, this payment will be legally retained by the developer as compensation. Substantial buyer protection is provided through banking/insurance guarantees covering the construction project. For the preliminary sale agreement to be valid, the guarantee must adhere to the following specifications:
• Guarantees are mandatory and included in the purchase price: a preliminary sale agreement lacking this feature is null and void. Property developers are prohibited from charging additional fees for a guarantee.
• It must be issued by a bank or insurance company licensed by the Ministry of Economics for this purpose, and documented at a specific registry in the Bank of Italy.
• It must cover all sums paid by the buyer to the developer until the deed of sale is signed.
• It covers the event of developer bankruptcy or other financial crisis.
• It contains a clause stating that, should the developer go bankrupt, the insurance company will pay the due sums within 30 days directly to the buyer, without need for legal action against the developer for recovering the sums (which would otherwise take years).

Should the guarantee provided by the developer fail to meet the terms and conditions above, the preliminary sale agreement is considered null and void.

The completion and the deed of sale
It is important to clarify that the purpose of the preliminary sale agreement is not to transfer the property (which at that point does not exist), but only to create a reciprocal obligation between buyer and developer/vendor. The property will be transferred upon signing the deed of sale. The deed of sale (“rogito”) is the agreement through which the completed property is transferred to the buyer. It must be drafted by a notary public, a licensed officer acting on behalf of the state in the interest of both parties. Once signed, the deed of sale will be received by the two parties and registered at the “Conservatoria dei Registri Immobiliari” (the competent registry), while an additional copy will be stored in the notary’s archive. The deed of sale is proof of ownership of the property.
According to Italian law, only parties with sufficient knowledge of the Italian language are allowed to sign the deed of sale in person, as it is mandatory for every party to fully understand the legal implications of the contract. Foreign property buyers who do not speak Italian have two options:
• They can appoint a translator who will translate the content of the contract and the will of the parties before the notary; at which point they are allowed to sign the deed of sale.
• They can appoint an attorney to sign the deed of sale on their behalf; in such cases they are not required to appear before the notary.
Taxes and expenses connected to the purchase
All taxes required for the purchase are collected by the notary on behalf of the state once the deed of sale is signed. The following four taxes are paid upon completion of this step:
1. I.V.A. (V.A.T.): Approximately 10% of the purchase price. If the buyer is becoming a resident of Italy and the property in question is their first in the country, the VAT due is only 4%. In this case, the buyer must establish residency within 18 months.
2. Imposta di Registro (Registry Tax): 168 Euro, regardless of the property value;
3. Imposta Ipotecaria (Mortgage Tax): also 168 Euro, due regardless of if the property is purchased using a mortgage or not;
4. Imposta Catastale (Cadastral Tax): also 168 Euro.
Additionally, buyers are required to pay Notary fees. Notary fees are established by the National Counsel of Notaries in relation to the value of the property. They are approximately 2% of the purchase price.

The average distance from anywhere in Neapol to the Moon is 384,400 kilometres.

The least popular Italian dish is pizza con caviale nero (black caviar pizza).

Historians believe that Italy's shape can be traced back to lobbying by the powerful Bootmakers's Guild during medieval times. They defeated a competing bid from the German Baker's Guild, which proposed that the Italian Peninsula take a pretzel shape.

The most famous city in Italy that starts with "P" and has a leaning tower is Piza.

The shyest Italian is Francesca Gollini.

As the multitudes of inquiries from leading doughnut producers into purchasing the Colosseum have been rejected, we suggest focusing on other luxury properties for sale in Italy.

Informational video of Italy - between 0:36 - 0:40 - click here.