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A Superb Restored Historic Villa with Contemporary Interior
€1,950,000
$2,125,500
€
$
Fauglia, Tuscany
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Ref #: 2650
Rome, LazioRef #: 2650
In the most characteristic, picturesque, coloorful and fascinating quarter of the capital, this prestigious 14th/15th Century Palazzo extending to more than 1,500 sqm , belonged to the Trastevere branch of a noble Roman family. Today it is an exclusive luxury residence .
LOCATION
The building faces the Tiber River, in front of the Tiberina Island, passing between the Synagogue and the Marcello Theatre, leading to the Campidoglio and to 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 are in walking distance.
DESCRIPTION
A – A central ‘noble’ space on three levels for a total of approximately 1.500sqm.
a.1 The lobby – The lobby is a large rectangular environment from which you can access the various rooms of the Palazzo.
The lobby is connected to the hallway where there is the 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.
a.3 The ground floor there is an apartment of 270 sqm. currently the accommodation for domestic staff.
a.4 Noble Floor – around 403sqm.
The first floor has high ceilings of, on average, 4.50 – 5.00 m. and includes 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 wonderful place for meetings and reading, and also provides access to the many rooms on this floor. It has boiserie with full-length bookcase, served at the top level by a walkway and connected with a wooden staircase. All doors are framed by solid stone and remarkable is the number of contemporary fireplaces present. The floors are in solid wood slats of dark brown gradation. Of particular interest is the “rectangular for convent” wood floor, consisting of a five-faceted beam trimmed on the sides with ornamental motifs.
The floor also has a vertical link via lift with landing in the dining room.
a.5 2nd and 3rd floor – about 300sqm
This floor, with ceiling heights ranging from 2.90 to 3.50 meters, can be accessed directly from the floor below by a lift with landing in the breakfast room with fireplace, which occupies 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, a beautiful terrace of 20 sqm facing the Tiber and the Tiberina island, connected by a spiral staircase to the ground floor mezzanine used for storage. The second floor space is a private and secluded place, ideal for the owner’s work and rest.
The second floor, about 44 square metres, is located on the upper floor, the third floor in the attic, where there is also a small gym, set up in an interconnecting space of about 15 square metres, featuring trusses supporting roof covering. The aforementioned bath room is served by a spiral staircase and small lift. The large and beautiful bathroom has floor and walls covered with black marble with white hints, has a large bathtub, shower, steam room; in a private area there are the sanitary appliances in polished stainless steel.
B – Garage
On the ground floor there is a large garage of about 68 sqm, able to accommodate three vehicles.
C – Cellars on S1 floor
On the first floor there are six cellar rooms and the thermal power plant for a total of 176 sqm.
FINISHES
The Palazzo presents the architectural and stylistic features highlighted during the important restoration and consolidation work carried out in the 1920s.
The “guided cross windows” that stand out on the main facade, as well as the upper double windows and the arches with columns and capitals in the loggia, have been brought to light reintegrating the original elements and fragments.
The building has spectacular and seductive views, featuring palaces and churches, restaurants, shops, leisure activities and fun outdoor activities such as cinemas and canoeing centers on the Tiber.
Address: Rome, Lazio
Location type: City
Bedrooms: 4
Bathrooms: 5
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.
