Genoa, a port city located on the northwestern coast of Italy, boasts a rich history dating back to ancient Rome. The city's charm is manifested in its numerous palaces and squares, such as the majestic Piazza de Ferrari and the Palazzo Ducale, which recall its glorious past as a powerful maritime republic. Surrounded by mountains and overlooking the sea, Genoa perfectly combines its historical heritage with beautiful natural landscapes. From the picturesque old harbor to the peaceful mountain trails, the city offers an attractive and sophisticated lifestyle for luxury home seekers.
Real Estate Market in Genoa
The current market for exclusive properties in Genoa is stable, with a high demand for luxury houses and apartments. Despite the stability of the city's political and economic situation, demand exceeds supply, suggesting a strong appetite for high-quality luxury properties.
Tax and Commission in Genoa's Real Estate Market
A buyer or seller of real estate in Genoa should consider several fees and expenses. These include real estate agent's commission, which is approximately 2% to 3% of the selling price, as well as notary fees and other possible building inspection expenses and legal costs. In addition, the transfer tax in Genoa is 9% of the fiscal value of the property. Both wealth tax and tax on gains obtained are variable, depending on factors such as value and type of property.
Mortgages in Genoa
The general requirements to apply for a mortgage in Genoa are quite strict, with many lenders requiring a large amount of own capital. However, a mortgage of up to 80% of the purchase price is allowed.
Living in Genoa
The residential areas of Albaro, Boccadasse, and Castelletto are the most expensive and sought after in Genoa. The city is located in the Liguria region and has a population of approximately 580,000 inhabitants. With a Mediterranean climate, Genoa offers an impressive setting, surrounded by mountains and sea. Its inhabitants enjoy a wide range of outdoor activities, such as hiking and sailing. Among the luxury offerings is renowned Via Roma, full of exclusive shops, as well as a variety of restaurant and top quality hotel options. For art and culture lovers, the Palazzo Rosso, the Teatro Carlo Felice and the monumental Cattedrale di San Lorenzo are not to be missed. Genoa hosts various cultural and sporting events, such as the Science Festival and the Genoa International Boat Show. In terms of infrastructure and public services, Genoa has an efficient public transport network, excellent health facilities, and a wide range of educational institutions. By road, it is approximately 1.5 hours from the cosmopolitan city of Milan and less than an hour's drive from the Cristoforo Colombo airport in Genoa and the Galileo Galilei airport in Pisa.
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