Established in the 18th century under the rule of Pope Clement XIII, San Lorenzo Nuovo is a breathtaking town perched on a hilltop in the province of Viterbo, Lazio, Italy. Overlooking the grand Lake Bolsena, it boasts stunning historical sights including its neoclassical town square and the grand Piazza del Paese. Its strategically central location, nestled between Rome and Florence, adds to the allure for those seeking luxury residences in a place replete with tradition, charm, and impressive views.
The Exclusive Property Market in San Lorenzo Nuovo
The exclusive property market in San Lorenzo Nuovo is currently stable. The demand for luxury homes and apartments here is consistently strong, signaling a healthy market that aligns with the limited but exquisite supply of properties in this region.
Purchasing a home here comes with additional costs such as transfer tax, realtor commissions, notary fees, and potential construction inspection or legal costs. Real estate commission typically varies, but oftentimes, both the buyer and seller can expect to pay around 3-6% in commission to their respective realtors. The transfer tax on private property in San Lorenzo Nuovo is around 9% of the cadastral value for luxury homes.
The political and economic situation in San Lorenzo Nuovo remains stable, making it an attractive location for property investors.
Taxation Aspects
Understanding the local tax structure is crucial when purchasing real estate. The wealth tax on private home ownership in San Lorenzo Nuovo is 0.76% of the property's cadastral value. However, tax exemption applies if the property is used as the main residence.
Profits gained from selling your primary residence are generally non-taxable, whereas profits made from selling a second home are subject to a 20% capital gains tax. Corporate tax for registered companies is 24%, while income tax for registered residents varies from 23% to 43%.
Mortgage Considerations
Banks in Italy typically lend up to 80% of the property's value for a mortgage. Primary requirements for obtaining a mortgage in San Lorenzo Nuovo include proof of stable income, a good credit record, and the property must meet certain standards.
Accessing San Lorenzo Nuovo
A small town with ideal connectivity, San Lorenzo Nuovo is located 120km north of Rome, accessible via the A1 motorway and the SS2 road. The town is well-served by regional rail networks, with Orvieto being the nearest train station.
San Lorenzo Nuovo’s Attractions and Amenities
San Lorenzo Nuovo is a small but charming town with a population of around 2000 inhabitants. The town's location provides an advantageous climate, boasting sunny and warm summers, and cool, wet winters.
The town square is a venue for various historical and cultural events throughout the year. Quality of life is further augmented by elegant shops, high-end eateries, and a vibrant nightlife. The town is home to beautiful churches, stunning landscapes, art galleries, and monuments that are epitomes of Italian architecture.
Healthcare & Public Infrastructure
Several healthcare facilities are within reach from San Lorenzo Nuovo, with the closest major hospitals located in Viterbo and Orvieto. The town's infrastructure is well-developed, ensuring easy accessibility to amenities.
In conclusion, San Lorenzo Nuovo is a picturesque town that presents the perfect fusion of a tranquil lifestyle with the advantages of luxury living. Its charm lies in its rich history, captivating landscapes, and vibrant culture, making it a desirable locale for buying a luxury home.
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