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Umbrian Boutique Hotel for Sale
€1,900,000
$2,071,000
€
$
Città della Pieve, Province of Perugia, Italy
10
13
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Ref #: V5078C
Castiglione del Lago, UmbriaRef #: V5078C
Accommodation Business on the Umbria / Tuscany Border. In a panoramic location on the border between Umbria and Tuscany, a 10 minute drive from Lake Trasimeno and Chiusi, this extensive property enjoys a strategic location just 1 km from amenities and is the ideal starting point for visiting central Italy. Less than an hour from many of both Umbria and Tuscany’s historic attractions, Castiglione del Lago, Città della Pieve, Chianciano Terme, Montepulciano and Perugia are all within easy reach. Perugia airport is less than an hour’s drive and Florence with its airport, 1.5 hours.
Offering 1, 438 sqm of space in total, the property comprises several buildings: a 4 storey main villa of 325 sqm with 3-4 bedrooms and 6 bathrooms; a 3 storey farmhouse of 570 sqm divided into 9 apartments with 12 bedrooms and 13 bathrooms in total; a second single storey farmhouse of 170 sqm, home to 4 en-suite bedrooms and utility rooms; a large agricultural storeroom of 330 sqm at underground level; and 2 small annexes used as boiler rooms. The buildings are surrounded by 3 hectares of land with 2 swimming pools and a fertile olive grove of 500 trees.
The property is in excellent condition and ready to move into immediately. The main villa has been recently built, using materials and finishes typical of traditional Umbrian country houses. The large farmhouse split into apartments dates back to 1600 and has been restored in keeping with the typical style of the area. The property is currently used as a tourist accommodation and events business.
Main Villa:
325 sqm on 4 storeys, 3+1 bedrooms and 6 bathrooms.
Ground floor: Kitchen/living room with fireplace, sitting room, bedroom with en-suite bathroom.
First floor: 2 bedrooms with en-suite bathrooms, sitting room with access to mezzanine floor above with an area with a bed and a bathroom.
Basement: Spacious rooms, one with fireplace, for use as a cellar or games room and a bathroom.
Agricultural Store:
330 sqm
Accessed via an underground tunnel from the basement floor of the villa, large storehouse for agricultural equipment.
Farmhouse 1:
570 sqm on 3 storeys, 12 bedrooms and 13 bathrooms divided into 9 apartments.
9 separate apartments with 1 or 2 bedrooms, plus a large room used as a restaurant and the kitchen.
Farmhouse 2:
170 sqm on one storey, 4 bedrooms and 5 bathrooms.
4 bedrooms with en-suite bathrooms, plus 6 utility rooms used for storage.
Annex 1:
14 sqm in the basement used as a boiler room.
Annex 2:
22 sqm on the ground floor, used as a boiler room.
External Areas:
3 hectares of land with a fertile olive grove of 500 trees.
2 swimming pools, one in front of the villa and the other for use by the 2 farmhouses.
Parking.
Energy efficiency rating: G EPi: 311
Distances:
Nearest village 0.9 Km, Chiusi 8 Km, Castiglione del Lago 13 Km, Città della Pieve 15 Km, Chianciano Terme 23 Km, Montepulciano 30 Km, Perugia 38 Km, Florence 127 Km, Tyrrhenian Sea 115 Km, Lake Trasimeno 12 Km, Golf course 10 Km, Perugia S.Egidio Airport 52 Km, Florence Airport 139 Km, Motorway 12 Km.
View all our properties on our website casatuscany.com.
Address: Castiglione del Lago, Umbria
Location type: Lake
Condition: Restored
Bedrooms: 20
Bathrooms: 23
Property size: 1439 sqm
Land size: 3 hectares
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.
