Buying real estate in Italy as a Canadian: Your essential guide

Dreaming of an Italian villa or a city apartment in Rome? You are not alone. For many Canadians, owning property in Italy is the ultimate goal. But turning that dream into a deed involves more than just picking a home with a view.

This guide will demystify the process for Canadians. We will cover everything from initial requirements to the final transfer of funds. Our goal is to show you not only how to buy property in Italy, but how to do it in a financially smart way.

What are the biggest pitfalls for Canadians buying real estate in Italy?

Navigating an international property purchase comes with unique challenges. Being aware of them can help you save money and avoid stress.

The most significant pitfall is the hidden cost of currency exchange. When you convert large sums of CAD to EUR through banks, you often pay a markup on the exchange rate. This hidden fee can add thousands to your purchase price.

Slow international bank transfers can also cause problems. Delays in sending your deposit or final payment can jeopardize the sale and create unnecessary stress.

Many buyers also underestimate the total transaction costs. The final price includes more than the property's ticket price. You must also budget for notary fees, taxes, and legal services, all of which require funding in Euros. A smart approach to international transfers is essential.

Can a Canadian legally buy a home in Italy?

Yes, Canadians can legally buy property in Italy. The ability for a foreigner to buy property in Italy is generally based on a principle of reciprocity. This means Italy allows citizens of a foreign country to buy property if an Italian citizen would be allowed to buy property in that country.²

While recent Canadian legislation has placed restrictions on non-Canadians buying residential property in Canada until January 1 2027¹, there are exceptions. This has created some complexities, but it does not mean the door to Italy is closed.²

Navigating this requires careful planning. Instead of providing legal advice, this guide focuses on what you can control: your financial preparedness. Having a clear and efficient way to manage your funds is a crucial part of being ready for the purchase, regardless of the legal specifics you and your lawyer navigate.

What is the real estate market like in Italy?

Prices in Italy can vary significantly by region, and are measured in price per square meter, instead of square feet. The prices as of April 2026 are as follows:

Information correct as of 22 April 2026 at 07:14 am GMT-4

To check how much it would cost to send your Canadian dollars to property sellers in Italy, you could also use our calculator:

What are the essential steps to buying property in Italy as a Canadian?

The path to owning your Italian home follows a clear, structured process. Here are the essential steps you will take.

1. Budgeting and financing. First, determine your total budget. Remember to include the property price plus an estimated 10-20%¹ for taxes and fees. Securing a mortgage in Italy as a non-resident can be difficult, so many Canadians buy with cash.
2. Finding a property. Engage a reputable real estate agent (agente immobiliare) to help you search. Research different regions to find the lifestyle and price point that suits you.
3. Make an offer and sign the preliminary agreement. Once you find a property, you will make an offer or a proposta d'acquisto. If accepted, you will sign a preliminary contract, a contratto preliminare and pay a deposit, typically between 10-30%² of the purchase price.¹ This contract is legally binding.
4. Obtain an Italian tax code. You must get an Italian tax identification number¹, known as a Codice Fiscale. This is mandatory for any significant financial transaction in Italy. You can apply for one at an Italian consulate in Canada or at an Agenzia delle Entrate office in Italy.³
5. Open an Italian bank account. While not always mandatory, opening an Italian bank account is highly recommended. It simplifies paying the seller, the notary, and ongoing utility bills.³
6. Conduct legal due diligence. Your lawyer or avvocato or notary - notaio will conduct legal checks on the property. They ensure it is free of debt, has all the correct permits, and that the seller has the legal right to sell it.
7. Sign the final deed of sale. The final step is signing the Rogito Notarile, the public deed of sale. This happens at the notary's office. You will pay the remaining balance of the property price at this time.
8. Pay taxes and register the property. The notary will register the deed with the land registry and ensure all transfer taxes are paid on your behalf.

Manage your property purchase with Wise

When you transfer your deposit or the final purchase amount, the exchange rate you get matters. Using banks for large international transfers can be expensive due to marked-up exchange rates and high fees.

Wise offers a modern solution. You can send money to Italy using the mid-market exchange rate: the one you see on Google, with a small, transparent fee. This means more of your Canadian dollars arrive as Euros, potentially saving you thousands on your property purchase.

With a Wise account, you can also hold and manage money in over 40 currencies, including Euros. This makes it easier to fund your bank account in Euros, or to pay local invoices for legal fees and other services. Transfers are fast and trackable, giving you peace of mind during time-sensitive moments of your property deal.

Frequently asked questions about buying property in Italy as a Canadian

How much money do I need to buy property in Italy?

Property prices vary dramatically by region. A small apartment in a rural town can be very affordable, while a villa in Tuscany will cost significantly more. Beyond the purchase price, you should budget an additional 10-20%¹ of the property's value to cover taxes, notary fees, and other closing costs.¹

Can I get a mortgage in Italy as a Canadian?

It can be challenging for non-residents to get a mortgage from an Italian bank without a local credit history or income source. Most banks that do lend to foreigners will require a larger down payment². For this reason, many Canadians purchase property with funds they transfer from Canada.

How long can a Canadian stay in Italy if they own property?

Owning property in Italy does not automatically grant you residency rights. As a Canadian, you can stay in Italy and the Schengen Area for up to 90 days within any 180-day period without a visa¹. For longer stays, you will need to apply for a long-stay visa, such as an Elective Residency Visa.⁴

What are the ongoing costs of owning property in Italy as a foreigner?

Ongoing costs include property taxes like IMU - Imposta Municipale Unica if it is not your primary residence, waste collection taxes (TARI), and condominium fees if applicable. You will also have costs for utilities, insurance, and general maintenance.

Conclusion: Your financially savvy path to Italian property ownership

Buying property in Italy as a Canadian is an achievable dream. Success depends on understanding the process, planning for all the costs, and making smart financial choices.

The most critical financial element is how you move your money from Canada to Italy. Choosing a transparent and cost-effective method for your international transfers can save you a significant amount of money and provide crucial peace of mind.

Ready to take the next step towards your Italian dream home? Open a Wise account today to start saving on every Euro transfer and manage your international payments with confidence.

Sources verified on 23 April 2026