Located amidst the sun-soaked Italian Riviera, Bussana is steeped in rich history, showcasing impressive medieval architecture and statuesque sights such as the Church of San Egidio and the ancient Bussana Vecchia. Once a maritime hub and now a destination for the discerning, it blends an infectiously relaxed atmosphere with undeniable sophistication. Nestled in the province of Imperia, Bussana benefits from a felicitous proximity to the French border and the sparkling Mediterranean Sea. This unique seaside town, with an approximate population of 600 inhabitants, effortlessly unites a deeply historic charm with luxury living.
The Luxury Real Estate Market in Bussana
Currently, the exclusive property market in Bussana can be defined as stable with a promising growth projection. The supply of luxury homes and apartments comfortably meets the demand, but with the increasing popularity of Bussana as a desirable location, this equilibrium may slowly lean towards an increased demand. The political and economic situation remains stable, providing a safe atmosphere for those looking for a luxury home.
Speaking of Economics: Purchasing Luxury Property in Bussana
When it comes to purchasing luxury property in Bussana, both buyer and seller can expect average real estate commission rates equivalent to those in the wider Italian real estate market. Typically, this is between 1.5% to 4% of the selling price. Additional expenses like transfer tax, notary fees, or potential construction inspection legal costs should be taken into consideration as well. The transfer tax on private property in Bussana is 9%, unless you are purchasing your primary residence, in which case it is reduced to 2%.
Taxes in Bussana
The wealth tax on private ownership of a home varies depending on the value of the property. However, real estate taxes (IMU) are generally low compared to other European countries. If selling a privately-owned primary residence, capital gains tax is not applied on the profit, but it will be levied at 20% if selling a second home.
Mortgages and Financing
In Bussana, the mortgage requirements depend largely on the financial standing and credit history of the buyer. Normally, residents may secure a mortgage of up to 80% of the property's appraisal value or purchase price.
A Luxury Lifestyle: The Bussana Experience
The most exclusive and desired residential areas of Bussana include the old city center and the beachfront properties facing the azure Mediterranean Sea. Accessibility to Bussana is seamless with smooth highways and efficient rail connectivity. The town is located 50km away from the bustling city of Nice and 79km from Genoa. Both cities have national and international airports, facilitating convenient travel.
Education and Infrastructure
The public infrastructure is excellent, providing accessibility to neighboring towns and cities. Renowned educational institutions include the International Ballet School of Princess Grace of Monaco and the University of Genoa, located a short distance away.
A High-End Paradise: Bussana and Luxuries
Bussana offers a myriad of outdoor activities including yachting, golfing, and beachside tennis. The city’s lavish shopping district showcases a mix of boutique stores and designer brands. Exclusive dining can be experienced at Maison Del Cambio, with nightlife radiating from plush wine-bars like Divin. The continual return of events such as the prestigious Sanremo Music Festival underpins the cultural calendar here.
Cultural and Health Infrastructure
Art aficionados can explore the Riviera Art Gallery and the iconic Villa Ormond. Regional healthcare, though smaller in infrastructure, is reliable with clinics located within nearby Sanremo. In conclusion, Bussana successfully coordinates luxury living with the charm of a historic town, providing an unparalleled blend of sophistication, comfort, and an exceptional lifestyle.
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