Italy provides an attractive prospect for investors from abroad. According to estimations made by "Scenari immobiliari", 8 percent of residential commerce in Italy is carried out by foreigners citizens.
A figure that could reach 45 million euros by the end of 2017.
Not only are those with foreign citizenship living in Italy (over five million) buying houses, investors are also attracted to Italy.

In 2016 more than half of foreign buyers were from Eastern-Europe, followed by Indians, Pakistanis and Chinese. The low number of Chinese mortgage requests despite Chinese investors being among the largest category of investors is an exceptional case.
The figures come from a survey made by Facile.it and Mutui.it. These websites look in particular at the dispensing of mortgages.

Mortgage Statistics

Thanks to the booming housing market that has recently taken hold the banks seem more likely to give out mortages.
Of the 3.500 mortgages given ( from January 2016-June 2017) a large percentage, 6%, was granted to foreign citizens.
Of the available statistics, it seems that on average foreigners profit with amounts of 68% of the value of the property, around 109,800 Euros.

Considering the nationalities of those who have had access to credit, they reveal a large number of Romanian citizens (15.1%), Albanians (11.9%), Swiss ( 11.4%), Moldovian (6.8%) and German (5.9%). Chinese and Morrocans have a large presence in Italy, and should be noted for their limited requests for mortgages in banks.

One has to look closely at the figures, in order to understand the most meangful funding but they are in English or French.

From a geographical point of view buyers continue to prefer investing in North and Central Italy. For example, Lombardy attracts 29.7% mortgage requests at the bank.

How to obtain a mortgage

To request a mortgage in Italy you do not have to be an Italian resident. Bank branches request the relevant information concerning income, if you work or not and where you live.
Italian residents abroad are able to request a mortgage. They have to be registered as AIRE– Italian Registery Office for Italians living abroad.
If you do not live in a country that has euros, problems bound to the changing of money can be overcome by turning to a bank that operates in both countries.
In cases where the mortgage is needed to buy the first house, you have the right to concesssions even if you are not Italian, but it must be reassessed in each case in order to see if you can take out a mortgage.

The documents produced have to be certified and drafted in Italian. For those who permanently live abroad and request a mortgage it is important to be able to demonstrate your financial stability.

Boccadutri International Law Firm offers a premium services for real estate.
Our team of lawyers are experts in real estate and are available to anyone who wishes to buy or sell property in Italy and abroad.
One of the many skills of the advocates at the law firm is conveyancing, namely the transfering of property in all its steps, not least helping clients request mortgages. A consultant will be there for the client at every phase of the process of the mortgage request.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.