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PROPERTY

Which of Italy’s home renovation bonuses can you claim in 2024?

Italy’s main home renovation incentives will still be in place in 2024 but some key changes are set to affect who can claim them and how.

Published: 30 November 2023 15:58 CET
Updated: 3 December 2023 09:43 CET
Red house in Burano, Venice
A photo taken in August 2014 shows a red-coloured house in Burano, a small island in the Venetian lagoon. Photo by Gabriel BOUYS / AFP

If you own, or have your eye on, property in Italy, you may already have heard of the country’s building ‘bonuses’: a series of national schemes offering homeowners generous discounts on the cost of their property renovation work. 

Since their introduction in 2020, these incentives have been enormously popular with homeowners. The well-known ‘superbonus 110’ discount was however abruptly scaled back earlier this year, and many expected the same thing would soon happen to other discount schemes.

But the main bonuses have all remained in place in 2023 and are set to continue into next year, albeit with some key differences regarding how much homeowners can claim and how.

Superbonus

Italy’s famous superbonus scheme applies to renovation work aimed at improving the energy efficiency of a building while also reducing its vulnerability to earthquakes.

Though it is still frequently referred to as superbonus 110, the incentive no longer offers the original maximum of a 110-percent discount on the total cost of work. 

Scaffolding, central Rome

The facade of a building in central Rome is enveloped in scaffolding in February 2023. Photo by Tiziana FABI / AFP

In fact, after dropping to 90 percent of overall expenses as of January 1st 2023, the maximum claimable amount is now set to go down to 70 percent from January 1st 2024. 

Further, barring some exceptions, the bonus will only apply to condominiums and small apartment buildings (two to four residential units) in 2024.

READ ALSO: What’s happening with Italy’s building superbonus in 2024?

Finally, there will still be only one way to claim the superbonus (and all other building bonuses, for that matter) and that’s by claiming a tax rebate (detrazione fiscale) spread out evenly over multiple years. 

Earthquake bonus

Italy’s sismabonus (or ‘earthquake bonus’) allows homeowners to claim a 50- to 85- percent discount on expenses of up to 96,000 euros aimed at reducing the seismic vulnerability of their property.

The bonus can only be claimed for work on buildings located in seismic areas 1 (high seismic risk), 2 (medium risk) or 3 (low risk). Buildings located in zone 4 (very low risk) are excluded.

Ecobonus

The ecobonus offers savings of 50 or 65 percent on the cost of works that improve the energy efficiency of a property. 

These include upgrades to the building’s heating and air conditioning systems as well as the installation of wall insulation panels and solar panels. 

The maximum available discount can be higher (70 or 75 percent) in the case of renovation works carried out on communal areas of condominiums or apartment buildings. 

Renovation bonus

The bonus ristrutturazioni (or ‘renovation bonus’) offers homeowners a 50-percent discount on home improvement expenses of up to 96,000 euros. 

READ ALSO: The Italian vocabulary you’ll need when renovating property

The scheme applies to any renovation procedure falling under one of the following three categories: extraordinary maintenance, conservative restoration and building restructuring. 

Furniture and appliances bonus

The bonus mobili ed elettrodomestici (or ‘furniture and appliances bonus’) allows homeowners to claim a 50-percent reduction on expenses of up to 5,000 euros (as opposed to the previous 8,000 euros) for the purchase and installation of new furniture and energy-efficient electric appliances. 

Construction worker

A construction worker wipes the sweat off his brow during a break. Photo by Valentine CHAPUIS / AFP

The incentive can only be claimed by homeowners who carried out wider home renovation works in 2023.  

Green bonus

The bonus verde (or ‘green bonus’) offers property owners a 36-percent discount on expenses of up to 5,000 euros aimed at renovating their gardens or other outdoor spaces, including terraces and balconies.  

Architectural barriers bonus 

The bonus barriere architettoniche (or ‘architectural barriers bonus’) allows property owners to claim a 75-percent discount on expenses incurred for the elimination of architectural barriers (walls, stairs, etc.) in order to facilitate accessibility to people with disabilities or the elderly. 

READ ALSO: Everything you need to know about having a second home in Italy

The bonus applies to range of works, including the installation of lifts and wheelchair ramps.

Please note that The Local cannot advise on individual cases. For more information on claiming Italy’s building bonuses, homeowners are advised to consult a qualified Italian building surveyor or independent financial advisor.

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PROPERTY

Can you still buy Italy’s one-euro homes in 2024?

A lot has changed since Italy's 'one-euro' home offers first made international headlines, so are they still available - or worth considering?

Published: 14 May 2024 10:27 CEST
Updated: 18 May 2024 07:39 CEST
Can you still buy Italy’s one-euro homes in 2024?

The prospect of buying a house in Italy for less than the price of a caffè normale at the local bar caused a sensation back in 2019, when news of one-euro home schemes hit the international headlines.

There was a property stampede in Sicilian towns in particular, with local mayors reporting being overwhelmed with enquiries in English and other languages.

MAP: Where in Italy can you buy homes for one euro?

Even sceptics couldn’t contain their curiosity: Was it a joke? What condition were these houses in? And how much was this really going to cost?

Several years later, we know that these schemes are legitimate attempts to breathe new life into depopulated areas and unburden local authorities of old, unwanted properties that would otherwise be left to fall apart. And in some cases, at least, it has worked – and proved very lucrative for the towns involved.

We know most of these houses are in a very poor state of repair, requiring major investments from their new owners. And we know the costs can be high, with reports of some international buyers spending hundreds of thousands of euros on renovations – many times more than the property’s potential market value.

READ ALSO: Six things to know about Italy’s one-euro homes

But we’ve also heard from some readers who tell us that, while these homes do of course cost more than one euro, for a sensible buyer they can be a worthwhile investment.

Not only are Italy’s one-euro home offers still going strong in 2024, but new towns are joining the scheme, while others continue to announce similar ‘cheap home’ projects such as the rental programme in Ollolai, Sardinia aimed at remote workers – one scheme that’s expected to take off following the introduction of Italy’s new digital nomad visa in 2024.

So what do you need to know if you’re curious about these Italian property bargains?

As ever, if you’re interested in buying a one-euro home you’ll need to meet certain requirements which vary depending on the local authority. After all, this is not a nationwide scheme but a series of small initiatives run by local councils in each town or village, so you’ll need to carefully check the terms and conditions of every offer you consider.

Generally though, the following will apply:

  • Foreign nationals can buy one-euro houses, whether they’re EU or non-EU citizens – but remember owning one will not give you any residency rights in Italy, and visa rules will still apply to non-EU nationals.
  • The prospective buyer can’t just make vague promises about doing the place up: you’ll need to present a renovation plan within 2, 3 or 6 months depending on the village.
  • Buying a one-euro home to turn into a tourist rental business is generally allowed, but you’ll need to let the local authority know your plans when you apply.
  • The cost of the house, all renovation costs, and all notary, legal, transfer and other fees are the responsibility of the buyer.

Some things have however changed in the past few years which make buying and renovating a one-euro home less affordable than it once was.

Many buyers in recent years were further tempted by generous state subsidies available to cover the cost of renovation work – most famously the ‘superbonus 110’ which covered up to 110 per cent of qualifying expenditures.

READ ALSO: What taxes do you need to pay if you own a second home in Italy?

Though the superbonus is now winding down and is no longer open to new applications, it has had a knock-on effect which means renovations in Italy generally take longer and cost more than they used to.

The superbonus scheme’s enormous popularity led to an ongoing shortage of building contractors in Italy, who were booked up months, or even years, in advance.

And as the popularity of these offers has exploded, the most viable properties in some areas now often become the subject of a bidding war, with the sale price rising from one euro to tens of thousands.

Find a map of the towns currently offering one-euro homes in Italy here.

Have you bought a property through a one-euro home scheme in Italy? We’d love to hear from you. Please get in touch by email or in the comments section below to let us know about your experience.

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