# Info about Venetian real estate?



## zaphod (Jun 19, 2010)

I'm doing some research on buying a small apartment in Venice, in part to visit annually for a few months a year, and in part for retirement in a few years. I have heard that, along with the Euro, the Venice real estate market has also recently plunged, but I cannot find any specific statistics. Can anyone give me some sources on the recent (last two to ten years) history of Venetian real estate, as well as some sources discussing the advisability of buying Venetian real estate right now? Also, more general advice about purchasing Venetian real estate would be very useful: reliable estate agents, additional taxes and fees, cost of living, home restoration, and so on. Thank you.


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## NickZ (Jun 26, 2009)

I'm curious who told you prices plunged? I'm sure prices are lower then the peak but most Italians wouldn't be considered forced sellers. That means prices don't plunge easily.

You'll have to pay the full tax on the purchase since you won't be resident. Notary fees vary with the value of the property. Cost of living and restoration costs are length of string type questions.

There is no national house listing so you'll be hard pressed to find a database of prices. Even if you did homes aren't really fungible. Finding two apples to compare isn't that easy.


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## zaphod (Jun 19, 2010)

*Followup*

Thank you, Nick, for the very quick response. During my last visit to Venice (a couple of weeks ago), I asked my hotelier and a few other residents about real estate; they mentioned almost in passing that prices were down, in part as a consequence of the global real estate bust. Are there sources that can confirm or deny this assertion with some hard facts about recent history?
Thanks again.



NickZ said:


> I'm curious who told you prices plunged? I'm sure prices are lower then the peak but most Italians wouldn't be considered forced sellers. That means prices don't plunge easily.
> 
> You'll have to pay the full tax on the purchase since you won't be resident. Notary fees vary with the value of the property. Cost of living and restoration costs are length of string type questions.
> 
> There is no national house listing so you'll be hard pressed to find a database of prices. Even if you did homes aren't really fungible. Finding two apples to compare isn't that easy.


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## NickZ (Jun 26, 2009)

You could go to the local government offices and try and find the selling prices. These are supposed to be there but

1) Up till I think 4 or 5 years ago they registered the assessed tax value and not the real selling price.

2) You'll need to find two very similar homes to compare prices with. This is easier said then done.


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## zaphod (Jun 19, 2010)

*Thank you*

Terrific advice.
Thanks.



NickZ said:


> I'm curious who told you prices plunged? I'm sure prices are lower then the peak but most Italians wouldn't be considered forced sellers. That means prices don't plunge easily.
> 
> You'll have to pay the full tax on the purchase since you won't be resident. Notary fees vary with the value of the property. Cost of living and restoration costs are length of string type questions.
> 
> There is no national house listing so you'll be hard pressed to find a database of prices. Even if you did homes aren't really fungible. Finding two apples to compare isn't that easy.


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