FAQ's
How can I get there and how much does it cost?
Tuscany is easily accessible from both Rome and Pisa airports with daily flights operating from Malta International Airport. Air Fares start from as little as € 40.
What is the buying procedure?
Once a property is chosen, a preliminary agreement is signed and a deposit amounting to 10% of the purchase price of the property is required. Notary searches for compliance report and land registration document normally take 3 months. Once property searches are concluded the final deed of acquisition can be signed and the outstanding balance is paid.
Is joint ownership possible?
Yes. A property can be acquired under an undivided joint ownership agreement. It is an ideal way for a group of friends or relatives to purchase an apartment while avoiding the full cost.
How can I obtain financing?
Financing can be obtained from both local Maltese and Italian financial institutions. In Tuscany we work closely with Banco Credito di Firenze, locally, Bank of Valletta offers a home finance package to local purchasers interested in acquiring property overseas.
Who will take care of the property whilst I am away?
Maintenance gardening and housekeeping services can be sourced and organized. These will make your property ready for your arrival.
What are the running costs of a property in Tuscany?
While maintenance costs (if any) may vary from one development to another, the following are to be paid annually to the local governing bodies;
- Imposta Comunale Immobili – ICI (Council Tax) calculated from the zone the property is in and the type of property. It is normally much lower than other countries. The actual figure varies between communes (councils), it is normally between 0.4% - 0.6% of the property value. It also depends whether the property is the buyer’s only home.
- Rifiuti Solidi Urbani – (Refuse Tax) calculated on the surface area of the property. This is a very small amount per year.
Do I pay Capital Gains Tax? If yes, how much?
No tax is payable if the property is sold 5 years from its purchase. Capital gains tax is only applicable if the property is sold within 5 years of acquisition. Capital gains tax amounts to 20% on profit made.
What if I would like to sell my property in Tuscany?
This can be easily done as a resale through Frank Salt Real Estate or through our specifically appointed estate agents based in Italy and our overseas agency network.
What if I would like to rent my property in Tuscany?
This can be easily done through our specifically appointed estate agents based in Italy and our overseas agency network.
How can I view a property in Tuscany?
An inspection visit including flights, transport and accommodation can be organized. The project manager will accompany you on site and later to lunch in a typical Tuscan restaurant.