We provide a wide range of services to help clients find, buy, sell, or invest in properties. We have our trusted partners across the seas with experience in Real Estate, Legal Services, Finishings and Furnishings that will help to streamline the process to make sure that buying of your new home in Sicily is done in the easiest and most enjoyable way possibleÂ
At MedIslands Properties, we have deep roots in both Malta and Sicily. We understand the needs of the Maltese buyers and have well established connections on both Islands to ensure the process is as enjoyable and efficient as possible for our clients.
The time required to purchase a property in Sicily depends on several factors, such as the buyer's financial readiness, the property's condition, and the status of its documentation. Here’s a general timeline:
Cash Purchase with Ready Documents: If you are financially prepared, the property is vacant, and all documents are in order, the process typically takes about 2 months, including notarial checks and registration.
Financing: If you require a mortgage, expect the process to take around 4 months, as banks need time for property valuation and loan approval.
Issues with Documentation: If the property's documents are incomplete or need corrections (e.g., cadastral updates or planning approvals), the purchase could take up to 6 months or more, depending on the complexity of the issues.
Financing a property in Sicily offers three main options: buying in cash, obtaining a loan from a bank in Malta, or securing a mortgage from an Italian bank. Here's how each method works:
1. Buying in Cash
For cash purchases, buyers can deposit funds directly at an Italian bank without needing to open an account. Payment is typically made via a non-transferable bank check handed over at the notary's office during the final transaction.
This method is straightforward and avoids the complexities of loans or mortgages, but buyers must ensure compliance with Italian regulations regarding cash declarations when bringing money into the country.
2. Obtaining a Loan from a Bank in Malta
Maltese banks, offer financing options for purchasing properties abroad, including in Sicily. These loans typically cover up to 70-80% of the property value and have repayment terms ranging from 15 to 40 years.
Eligibility depends on factors like income, credit history, and age. Buyers may also need to provide property-related documents, such as the preliminary agreement and plans.
Maltese banks are known for their robust financial systems, making this option reliable for Maltese residents seeking international property investments.
3. Obtaining a Loan from an Italian Bank
Non-residents can apply for mortgages in Italy with requirements such as proof of income, tax returns, and a codice fiscale (Italian tax ID). A higher down payment (30-40%) is typically required for foreign buyers.
The mortgage approval process involves property appraisals, title checks by a notary, and extensive documentation. It can take between 2 to 4 months for completion.
Italian banks generally finance up to 70% of the property's appraised value. Interest rates may be slightly higher for non-residents due to increased risk.
Each financing option has its advantages depending on your financial situation and preferences. Consulting local experts or financial advisors can help streamline the process and ensure compliance with legal requirements in both Malta and Italy.
Our services would always start with a phone call to get to know your needs. Once we understand exactly what you're after, we will put you in touch with one of our exclusive partners who will take care of your every need once you set foot in Sicily. They will take you around on viewings and help with negotiations in order to make sure you get the best possible deal for your next property.
The way fees work in Italy is slightly different to Malta.
In Sicily, real estate agency fees are typically shared between the buyer and the seller, with each party paying a percentage of the property's sale price. Here’s an overview of how these fees work:
1. Typical Fee Rates
Agency fees generally range from 3% to 5% of the property's purchase price, plus 22% VAT (Value Added Tax).
Some agencies may charge a higher percentage on lower-priced properties or negotiate fees depending on the complexity of the transaction.
2. When Fees Are Paid
Fees are usually due when the Preliminary Contract (Compromesso) is signed, as this is when the deal becomes binding. In some cases, payment may be deferred until the final deed of sale.
The commission is payable only if the agent's intervention directly results in the sale, as per Italian Civil Code Article 1755.
3. Services Included
Agency fees often cover:
Negotiations with the seller
Assistance with legal and notarial processes
Administrative tasks such as obtaining tax codes (codice fiscale) or opening bank accounts
For our services in particular, we will be charging the Maltese client their share of the fees plus 18% VAT.Â
At MedIsland Properties, we specialize in all types of properties in Sicily, catering to a wide range of preferences and investment goals. Whether you're looking for a modern apartment, a luxurious villa, or a charming property with renovation potential, we have you covered. Here’s an overview:
1. Apartments
We offer a variety of apartments, from cozy studios to spacious multi-bedroom units, located in bustling city centers or tranquil coastal towns.
Ideal for those seeking low-maintenance living or a holiday home with easy access to amenities.
2. Villas
Our portfolio includes stunning villas, ranging from contemporary designs to traditional Sicilian-style homes.
Many feature private pools, expansive gardens, and breathtaking views of the Mediterranean Sea or countryside.
3. Properties Needing Renovation
For those with a passion for restoration, we provide access to historical properties and rustic farmhouses that require renovation.
These properties offer excellent investment opportunities and the chance to create a personalized dream home while preserving Sicilian heritage.
4. Commercial Properties
We also assist clients looking for commercial investments, such as boutique hotels, agritourism estates, or retail spaces.
Whatever your vision may be, MedIsland Properties is committed to helping you find the perfect property in Sicily. Our team provides expert guidance and local insights to ensure your purchase is seamless and tailored to your needs.
To permanently move to Sicily, you need to meet legal, financial, and residency requirements. These include obtaining a residence permit, fulfilling tax obligations, and establishing your presence in Italy. Here’s a breakdown:
1. Residence Permit
Non-EU citizens must apply for a long-term visa before entering Italy. Common visa types include work visas, family reunification visas, or elective residency visas23.
Once in Italy, you must apply for a residence permit (permesso di soggiorno) within 8 days of arrival. This involves submitting documents such as your passport, proof of income, and health insurance at the local immigration office23.
2. Tax Residency
If you plan to live in Sicily for more than 183 days per year, you will be considered a tax resident. Tax residents must declare their worldwide income and may benefit from favorable tax regimes like the 7% flat tax for retirees or special rates for workers in southern Italy611.
3. Language and Integration
To obtain permanent residence after five years of legal stay, you must pass an Italian language test at A2 level unless exempt due to age or medical conditions19.
Proof of integration and a clean criminal record are also required1.
4. Healthcare and Social Security
Residents can register with Italy’s National Healthcare System (Servizio Sanitario Nazionale), which provides access to high-quality medical services. You’ll need a residence permit and proof of address to enroll45.
5. Housing Requirements
Permanent residents must demonstrate suitable housing conditions as per regional laws. This could involve providing rental contracts or deeds for purchased property19.
Moving to Sicily offers lifestyle benefits alongside potential tax advantages. Consulting local professionals can simplify the process and ensure compliance with Italian regulations.