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5 Bedroom Property with Pool and Sea View
€700,000
$763,000
€
$
Castellina Marittima, Tuscany
5
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Ref #: 3331
Rome, LazioRef #: 3331
In the most characteristic, picturesque, colourful and fascinating quarter of the capital, a prestigious Palazzo of more than 2000 sqm. dating back to the 15th century, belonging to the Trastevere branch of a noble Roman family, today an exclusive residence.
The building overlooks the River Tiber, in front of the atmospheric Tiberina Island, passing between the Synagogue and the Marcello Theatre, leading to the Campidoglio and the Vittoriano. Crossing the nearby Palatine Bridge, you will reach the Temple of Vesta, the Circus Maximus, from where, by climbing the Arch of Constantine, you reach the Colosseum and the ancient archaeological areas of the Roman Forum and the Imperial Forum. All of these monumental sites can be reached on foot.
This particular and prestigious Palazzo is made up of an elegant complex of 15th-century houses built by a noble Roman family in the picturesque Trastevere district, and is in an unbeatable position for being close to all the monuments and squares of the center of Rome.
In the 1960s the Palazzo was subdivided in the same way as we find it today.
A-Central ‘Noble’ Space: This is on three levels totaling approximately 1200 sqm.
a.1 The lobby: The lobby is a large rectangular area providing access to the various rooms of the Palazzo.
The lobby is connected to the hallway where there is a service elevator, and a bathroom. The floor area is about 150 sqm.
a.2 The inner courtyard: In addition to the lobby, between this and the high wall towards the Lungotevere, there is a delightful inner courtyard. The floor area is about 128 sqm.
a.3 Noble Floor: The first floor is around 403 sqm. with high ceilings of approximately 4.50 – 5.00 m. Features include: a large and majestic library with fireplace, living room, dining room with fireplace, large hallway, dining room, bathroom and a large and functional kitchen.
The high-profile central salon, which also houses the library, is a majestic place for meetings and reading, and also serves as a distribution to the many rooms. It has boiserie with full-length bookcase, served at the top level by a walkway and connected by a wooden staircase. All doors are framed by solid stone with contemporary fireplaces present. The floors are in solid wood dark.
a.4 2nd and 3rd Floors – with a floor area of around 300 sqm.
This floor, with ceiling heights ranging from 2.90 to 3.50 metres, can be accessed directly from the floor below by a lift within the breakfast room, equipped with a fireplace, occupying about two-thirds of the floor. The room is exquisite and enriched by the presence of an impressive loggia of over 40 square meters overlooking the square. The floor also consists of a bedroom with bathroom, with a lovely terrace of 20 sqm overlooking the Tiber and Tiberina island. It has a beamed ceiling and is connected by a spiral staircase to the ground floor mezzanine currently used for storage. The second floor space is a private and secluded place, ideal for work and relaxation.
The second floor, about 44 sqm, is located on the upper floor. The third floor is in the attic, where there is also a small gym, set up in an interconnecting space of about 15 square metres, featuring trusses supporting the roof. The large and beautiful bathroom has floor and walls covered with black marble with white hints, a large bathtub, shower, steam room. This can be accessed by a spiral staircase and a small lift.
The building adjacent to and connecting to the main master portion is divided into units intended for residential rooms and rooms for different purposes.
In this building, to the left of the main entrance of the Palazzo, there are four living quarters and some rooms with different uses arranged on different levels totalling 330 sqm. The various levels are connected vertically by a large stairwell and elevator.
The housing units and rooms have recently been renovated and are in good condition.
On the ground floor there is a large garage of about 68 square meters capable of accommodating three large or four medium-sized vehicles.
There are six cellar rooms and the heating system totalling about 176 sq. m.
The building has a total area of approximately 2,206 sqm. spread over the various floors.
The above area is divided:
– in about sq. m. 1,109 floor area of the current owners residential area
– in about sq. m. 506 distributed among the five living quarters and rooms with different distribution;
– in about sq. m. 347 of common parts (stairs, ground floor entrance walkway, etc.);
– in about sq. m. 176 of cellars;
– in about sq. m. 68 of garage.
The palace has the architectural and stylistic features of the major restoration and consolidation works implemented in the 1920s.
The “Guelph cross windows” that stand out on the main facade, as well as the upper mullioned windows and the arches with column and capital in the loggia, were brought back to life by reintegrating the original elements. Similar restoration c was implemented in the east corner portico.
The building overlooks characteristic and romantic views, with palaces and churches, restaurants, stores and the River Tiber as a backdrop.
The Palazzo is a place of enormous historical and architectural significance as a result of its history, architectural-artistic elements, its ideal location in the center of Rome but in a very quiet area, and for being the only intact example of medieval architecture for sale in Rome in its entirety. The absence of structural problems and the high level of maintenance makes it particularly attractive.
An interesting feature of the Palazzo is the the possibility of combining residential and large scale functions. It is a private residence of enormous prestige where one can live easily and be able to accommodate high numbers of guests while also organizing evenings of concerts and receptions.
Address: Rome, Lazio
Location type: City
Condition: Restored
Bedrooms: 8
Bathrooms: 10
Property size: 1500 sq meters
Land size: courtyard, loggia
A notary is a qualified lawyer who is employed by the Italian government. When you are buying Italian property, it is a notary who conducts the legal transfer of a property from vendor to buyer, and prepares the deed of sale, checks there are no charges on the property, title issues and with the assistance of a technician such as a geometra or architect, checks the property conforms to all planning issues.
It is always the buyer and not the vendor who pays the purchase taxes due and who pays the notary fees also. This means that it is up to the buyer which notary is used. In practice it is usually one of the local notaries and we can recommend which one to use and which one is cheapest, as notary prices do vary.
We provide a detailed list of all fees and taxes (including the notary’s quote) before you sign any contracts.
Translator – if you do not speak fluent, enough to understand detailed legal contracts, you will need to have a translator at the notary deed. Your agent or the notary will usually arrange this so you don’t need to worry about it. The cost varies but is often 200-300 euros. This can sometimes be shared with the vendor if they are also non fluent in Italian.
This depends firstly on two things.
A. Are you buying as a resident or a non resident?
B. Are you buying from private individuals or from a company?
If you are buying from private individuals, then the taxes you pay are based on the cadastral value – a nominal value which each property has and which depends on its size, location, standard etc – nothing to do with the market value.
Example 1:
House price agreed €100,000.
Property belongs to private sellers.
Cadastral value of the property €32,000.
Let’s say you intend buying the house as a non resident (.ie. you do not intend moving to Italy permanently and applying for residency).
Taxes payable are 9% on cadastral value €32,000 so €2,880 plus a few smaller fixed taxes.
Or, if you intend moving to live in the house permanently, applying for Italian residency, then as long as you don’t already own another property in Italy;
Taxes payable are 2% on cadastral value €32,000 so €640 plus a few smaller fixed taxes. A minimum figure may be payable.
Please note, you could buy the house as a resident and pay the lower rate of tax if you intend moving there and obtaining residency within the next 18 months. Don’t be tempted to do this unless you are definitely sure you will become a resident. If you then do not, you need to pay the difference in taxes plus a penalty of around 30%.
If there is substantial land (not just a garden) with the property, then 15% is payable on the value attributed to the land, which can be quite low, eg a value of €15,000 could be attributed to the land so 15% of 15,000 = €2,250 would be the tax on the land.
Example 2:
House price €100,000
Property is being sold by a company
Cadastral value of the property is €32,000
Let’s say you intend buying the house as a non resident (i.e. you do not intend moving to Italy permanently and applying for residency).
Taxes payable are 10% VAT on full market price €100,000 so €10,000 plus a few smaller fixed taxes.
Or, if you intend moving to live in the house permanently, applying for Italian residency, then as long as you don’t already own another property in Italy,
Taxes payable are 4% VAT on €100,000 so €4,000 plus a few smaller fixed taxes.
Once we know
– which house you want to buy, its cadastral value and who owns it (company/individual)
– whether you intend to buy as a resident/non resident and if it’s your first property in Italy
only then can we ask the notary to provide a quote for the precise taxes payable.
Other circumstances
Then of course there are other scenarios.
If the value of the property you want to buy is very low (eg €50,000) then purchase costs are likely to be a higher percentage as there are set minimums to pay for all fees and taxes. So on a €50,000 house, you are likely to pay 12-15% instead of 10% (non resident).
You might want to buy a property (being sold by private individuals) with your company. Taxes are considerably higher in this case, as they would be 9% on the sale price (not on the cadastral value). So it’s cheaper to buy a privately owned property as a private individual, not as a company.
But, in the case of a country property which is a farm/winery/agriturismo, these are often owned by a farming company (azienda agricola) , which has considerable tax advantages as you can buy the farm and pay just 0-1% (depending on the circumstances) on the purchase price in tax.
Taxes would be different for a commercial purchase, eg if your company is buying an Italian company (ie a farm or other company). Buying the shares of a company usually meets zero taxes, just a few fixed fees, and notary and accountancy fees.
The above is a guide, and once you have found a property you are interested in buying, we can obtain a notary quote for you, with a full breakdown of the taxes and fees due.
Notary fees – approx 1-2%, more for a lower priced property due to some fixed taxes.
Agency fees – in Italy both buyer and seller pay the agent. These are payable to the Italian agent (one of our partners) you view the house with at compromesso (preliminary contract) stage and for each party are usually 3% plus VAT. VAT is 22% in Italy. Minimums apply. Nothing is payable to Casa Tuscany so you will not pay double the fees, you will just have double the assistance!
Compromesso registration fees – approx €380 plus a part payment of taxes which is deducted from the total taxes due at completion.
Translator for the deed signing at the notary’s office. Required if you do not speak Italian well enough to understand legal deeds. Approx cost €250 – €350 depending on the notary.
Technical report for the notary. Checks all the planning issues of the property, making sure it matches the official plans, no works have been carried out without permission, gathers all previous permits, checks the house is sellable and not illegal in any way. Carried out by a geometra, architect or engineer and costs vary considerably, a minimum of €761 including VAT/ Please note this report is NOT a structural survey, that is an optional additional report you may wish to instruct.
Local council tax – IMU (formerly ICI) – payable only by non residents. This needs to be paid twice a year at the post office – no bill is sent. Most people use a local accountant or property manager to calculate it.
Refuse tax (TARI)
In some areas, mountain community tax.
If you buy a property which is part of a condominium, e.g. with shared pool and grounds, lighting etc, then there will be annual condominium fees to pay which usually range from about €200 to €1000/year unless it is a particularly luxurious property with many amenities in which case costs could be higher.
Utilities
You don’t really need an Italian bank account for buying a property in Italy any more as money is usually sent by bank transfer, although some notaries insist the funds are sent from an Italian account set up by you.
You could of course open an account to handle bills but bear in mind that some utilities companies refuse to arrange direct debits for non resident accounts, and some bills cannot be paid by direct debit.
You could always pay your bills online or if you have a property manager then send them the funds for settling all the bills.
If you do intend opening an Italian bank account, bear in mind that Italian bank charges are high . Usually there is a monthly fee to pay, plus charges for receiving money, paying bills, sending statements, etc etc.
