Do you own a holiday apartment or holiday home in Italy? Then you should check out the latest real estate promotion in Italy. This allows you to renovate and refurbish your holiday home at the expense of the Italian state. In the following, we explain how you can make use of this unique opportunity.
The promotion
Italy receives around 200 billion euros in corona aid from the EU. The Italian state would like to use part of the money to boost the domestic economy and thus also tourism. The more attractive the holiday apartments, the more tourists, the more consumption - that's the idea. Anyone who owns an apartment, house or villa in Italy can benefit from this. Embellishments, energetic refurbishments or renovations are possible.
What real estate promotion in Italy means for you
The offer from the Italian government is highly attractive: The refurbishment of your property is not only funded - you get the refurbishment for free! The Italian state bears 110 percent of the costs. In addition, there are various subsidy programs within which you will be reimbursed between 50 and 65 percent of the investment sum, depending on the type of construction measure. Those interested in real estate promotion in Italy can initially apply until December 31, 2023.
How you can benefit from real estate promotion in Italy
Now this real estate promotion in Italy is actually reserved for those who pay income tax in Italy. Actually. With the help of a legal trick, you too can benefit from the subsidy as an owner of Italian real estate who is subject to income tax in Germany. Some Italian banks pay 80 percent or more for the tax credit.
A small calculation example: Assuming the costs for the renovation of your property are 100.000 euros. Then you will receive a tax credit of 110.000 euros. You sell the credit to a bank for EUR 88.000 and the bank collects EUR 110.000 from the state. A win for both sides.
How we can help you
The catch: the entire process, from the registration and verification procedures to the structural measures, involves a great deal of administrative effort. You need a team of brokers, building contractors, surveyors, architects and, above all, a very competent tax consultant who will make the funding possible for you. And that is exactly what CasaRiviera.net does for you. No real estate portal undertakes such activities and no non-resident real estate agency can.
We are currently (as of January 2022) supervising 27 such renovation and refurbishment projects in Liguria-Ponente. We have a stable team of commercialists (accountants/trustees), surveyors, contractors, architects and also maintain very good relationships with local banks. So we can offer you an all-round carefree package.
