Everything you should know about real estate

Buying

What are alloggi convenzionati?
The province of Bolzano has introduced special provisions for apartments and houses that fall under what is known as the alloggio convenzionato policy. These provisions are important when renting or buying real estate. So-called alloggi convenzionati can only be inhabited by persons who meet specific criteria: They must have been permanently residing in one of South Tyrol's municipalities for at least five years, or already had their official residence in South Tyrol at the time the building permit was issued. You or your family members are not allowed to own an apartment that is suitable for your family’s size and is easy to reach from your home or place of work, and you must not have any right of usufruct or right of residence regarding such an apartment. Eligibility to live in alloggi convenzionati also extends to persons who regularly stay in South Tyrol and have a lawful employment contract here.
What additional costs will I incur when buying a property?
Please note that the following closing costs are due in addition to the purchase price when buying a property: Registry fee/value added tax, notary costs and a brokerage fee. The exact amount of the registry fee or VAT depends on whether the property you are buying is your main residence or a secondary home.
What kind of running costs are associated with owning a property?
Property owners incur annual running costs that need to be taken into account when purchasing real estate. Specifically, this comprises the following ancillary costs: - Condo fees (operational costs) - Water supply - Heating and electricity - Municipal real estate tax - Residential building insurance - Waste disposal
What if I wish to convert my property?
Upon request, we can recommend professional planners and craftspeople with the right expertise.
What do I need to look out for with regard to the purchase agreement?
Real estate purchase agreements are very comprehensive and contain many specialist articles. That is why we recommend having an expert draw up the preliminary purchase agreement. A notary then prepares the final contract and notarises it.

Selling

How much is my property worth?
For the most part, the value of a property depends on the price for which equivalent pieces of real estate have sold in the past, the property’s size and location, and the development of the local real estate market. We recommend seeking advice from experts, who will determine the value of your property in line with the market and advertise it in such a way as to secure the best possible price. We are always available for consultation and would, of course, look forward to working with you on a real estate project.
How long will it take to sell my property?
Properties are generally sold within six months.
Why do I need a real estate agent?
You might want to think twice about selling your property on your own account, or whether it would be a better idea to enlist the support of a real estate agent. With our help, you are guaranteed to be in compliance with legal regulations, save time and find solvent buyers!
Where is the property ad published and how is my property marketed?
We publish the property ads on a range of sales platforms. These include shop windows, brochures, websites, various national and international online real estate platforms and social media channels. Thanks to this approach, your ad will attract a large national and international audience.
Is it also possible to sell my property with full discretion?
Our Secret Sale Service for exclusive properties guarantees the discreet sale of your real estate. The property will not be marketed publicly, and will be offered only to prospective buyers who are verified by us.
Can I also sell my property on my own?
You can also sell your property on your own, though that would entail greater effort and risk: First of all, it is essential to determine the value of the property in line with the market, check all relevant documents and plans for correctness, take convincing photographs and write attractive texts, and organise and coordinate viewings with potential buyers. The preliminary purchase agreements must be drawn up. Let experts give you a hand; hire a real estate agent, who will take care of the entire sales process for you, every step of the way.
What additional costs will I incur when selling a property?
When selling a property, the seller initially does not incur any significant costs. The real estate agent will take care of getting the energy performance certificate issued, obtaining all necessary records from the land registry and the cadastral registry, and deleting any bonds held by the land registry, the Province of Bolzano or the bank, if necessary. The fiscal implications of a property sale differ from case to case. Usually, however, no taxes are incurred. Only once we successfully sold a property on your behalf do we charge you a brokerage fee.
Who will take care of drawing up and registering contracts?
If you commission a real estate agent with the task of selling your property, he or she will take care of drawing up and registering purchase bids and preliminary purchase agreements. A notary prepares the final contract and notarises it.
Who will arrange the notary appointment and who will assume the costs?
If you sell your property through us, we will gladly also arrange the notary appointment for you. The notary's fee is billed to the party purchasing the property.
Who must be notified of the sale of a property?
Once the property is sold, the local tax authority (of the municipality in which the property is located), and – if applicable – the property management must be notified of the sale. In addition, supply contracts such as electricity, gas and other utilities must be transferred to the new owner. If the property was brokered by our Agency, we will take care of that for you, of course.
What is an energy performance certificate and why is it necessary?
The mandatory energy performance certificate contains data regarding a building’s energy efficiency and energy costs. This data provides information about the energy performance of the building’s cladding and about its heating and hot water facilities. It takes into account all energy-relevant factors, e.g. building volume and floor area, construction type, insulation materials, and types of heating and hot water facilities. Any qualified technician can issue the energy performance certificate. The certificate is legally valid for a period of ten years. You need it for renting out or transferring ownership of a property, as well as when implementing measures to improve a building’s energy performance if you want to claim the discount for energy-efficient renovation.

Renting

What is the duration of rental agreements?
Rental agreements generally have a duration of 4 + 4 years.
Do you broker properties to tourists?
In addition to normal rental apartments, our Agency also brokers properties for tourism purposes for the duration of one season or one year.
Who will take care of drawing up, registering, extending and terminating rental agreements?
Our Agency will gladly take on all of these tasks for you.
What additional costs will I incur?
With regard to brokering a rental apartment, our Agency charges the parties to the contract a one-time fee equivalent to one month’s rent.
When and how must I pay the deposit?
The deposit can be paid as a bank guarantee or wired from your bank account. It becomes due upon signing the rental agreement.
Who will take care of transferring the existing supply contracts (gas, electricity, waste disposal, etc.)?
If our Agency brokers the property, we will of course take care of re-registering the supply contracts in your name.

Renting out

To whom can I rent out my apartment?
If the property is what is known as a so-called alloggio convenzionato, specific provisions apply to renting it out. When renting out the property, you must charge the canone provinciale (fixed net rent applicable in all of South Tyrol) and the tenants must be eligible to rent an alloggio convenzionato (contract-bound housing policy designed to keep rent levels affordable for locals). Eligibility criteria include place of residence and ownership. Properties that do not fall under the policy of alloggio convenzionato are not subject to any limitations and can therefore also be rented out to tourists.
What documents do I need for renting out a property?
In order to rent out a property, you will need a number of different documents, including plans of the parties to the agreement and copies of the land registry record and the energy performance certificate, among others.
Does Profanter also broker apartments for short-term stays, e.g. one to two weeks?
Our Agency only brokers apartments that will be leased for multiple years, one year or on a seasonal basis.
Who will take care of drawing up, registering, extending and terminating rental agreements?
Our Agency will gladly take over these tasks for you, of course. To do so, we would require a number of different documents, including plans of the parties to the agreement as well as copies of the land registry record and the energy performance certificate.
What additional costs will I incur?
With regard to brokering a rental apartment, our Agency charges the parties to the contract a one-time fee equivalent to one month’s rent.

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