First, the good news:
There are still ample tax bonuses for property renovations in Italy, and the bank credit transfer is particularly attractive for those who do not have tax burdens in Italy.
The very attractive 110% tax bonus, in particular, has been modified several times in the past two years, as unfortunately there have been far too many cases of fraud, which are now gradually being uncovered.
Therefore, this bonus has been reduced to 90% for 2023, offsetting the tax credit is also possible for the coming years; however, transfer is only possible if the property has a construction permit, or the start of construction is reported before February 17, 2023.
Therefore, it may be particularly attractive for foreign investors to purchase properties in Italy that have these documents.
The most important bonuses at a glance:
1. facade bonus of 60% (until 12/31/2021 90%). abolished for 2023;
2. extraordinary maintenance bonus of 50%, with a maximum limit of 96,000.00 euros per real estate unit was also confirmed for 2023, 2024 and 2025.
The bonus can be used for all residential properties. All extraordinary maintenance and renovation works that are carried out in the interior areas of the building and that do not involve an improvement in energy efficiency can be used for this building measure, as there are separate allowances (see below). Examples include the following measures:
- Deepening of interior walls and work on amalgamation of rooms or units, all of which are work on interior walls;
- Electrical system replacement and wiring work;
- Replacement of plumbing and general renovation of bathrooms;
3. energy efficiency improvement bonus between 50%-65% eco-bonus. In principle, these benefits are for all measures that result in an improvement in the building’s energy efficiency. These essentially include:
- Work on insulation of exterior walls, roof or all heated surfaces;
- Replacement of windows and exterior doors;
- Replacement of the heating system.
- Roofing construction.
- Electric car charging stations.
Until 12/31/2024 up to a maximum of €96,000.
Until 12/31/2025 up to a maximum of €48,000.
Through its network of architects, notaries and business consultants, Attorney Brenner offers all-around assistance and a comprehensive package. As a single point of contact for all matters, foreign property owners are assisted in all challenges from purchase to renovation.