Ownership Costs
We have software available to our clients to clearly indicate both the total purchase and annual running costs of different properties
There are two taxes to be paid annually on property;
Imposta Comunale Immobili – ICI (Council Tax)
This is 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 your only home.
Rifiuti Solidi Urbani - (Refuse tax)
This is calculated on the surface area of your property. This is a very small amount per year.
Television tax - in theory every property should pay for this, it is approximately €100 a year.
Utilities
Electricity
Generally consumption is less in Italy, 80% of houses only have 3Kw supply, and they tend to use gas for cooking and water heating.
It is not a problem to get higher power supplies, but the cost per unit consumed is more. We can assist in any number of alternative solutions to your energy needs.
Italy has a high cost per unit for electricity, one of the main reasons for this is after the Chernobyl nuclear power plant disaster, there was a public referrendum that voted to immediately close all Italy's nuclear power plants, this arguably noble gesture means Italy is more reliant on imported power and it's higher cost.
The future offers many opporunities, with the use of renewable sources growing and especially relevent in Sicily, Solar power very near to being very quickly cost effective.
Gas
If the house is urban it may be connected to metano (Mains Gas)
Otherwise either butane or propane cylinders or tanks are used.
Water
Costs are low here, supplies are normally reliable. Occasionally the explosion in population with the arrival of northern Italians in July and August and the peak summer weather can cause problems. Rural properties tend to have storage tanks for such eventualities.
Telephone
Sicilians love to talk, so telephones and telefonini (Mobile Phones) are everywhere.
ASDL (Broadband) internet is becoming widespread.
Mobile phones costs are similar to the UK.
The standards of service from the effective monolopy of Telecom Italia can leave a lot to be desired.
Generally living costs are less, but some will be higher, some the same. Where the market has not embraced less regulated practises, for example car insurance, then it tends to be more expensive. Electrical goods tend to be the same price. Food and drink tend to be significantly less and significantly better quality!
Year on year market deregulation is bringing lower cost solutions, such as the mortgage market.