Serbian Citizens Interested in Buying Real Estate in Trieste – Price per Square Meter and Sea View as Deciding Factors

At the price of a studio apartment in Belgrade (around EUR 50,000), one- and two-room apartments of up to 50 m2 are sold in Trieste, except that, unlike the capital of Serbia, where the view is usually to the surrounding buildings, in this Italian city, you are mostly facing the sea.

– I was looking around an apartment of around 60 m2 in Trieste, which the real estate sale agency prices at EUR 60,000. The sales agent told me during the visit that there were increasingly more of our people buying apartments in Trieste. Just the building where I was looking up real estate has 5 tenants from Serbia – B. J., who decided to do so on a recommendation from a friend, says for Blic Biznis.

Prices

As for the prices per square meter in Trieste, according to the data of real estate sale agencies over there, they range between EUR 1,250 and EUR 3,950. The degree to which the property is equipped, whether it is a new building or a reconstructed one and the distance from the coast are the factors that influence the prices per square meter the most.

A studio apartment of 25 m2, according to the online offer, is sold at EUR 33,000. This apartment, meant for students, according to the description, is fully equipped and located on the first floor.

Small one-room apartments are sold at prices of around EUR 50,000. According to the Blic Biznis website, they found two, one of 54 m2 on the periphery of Trieste, which is sold for EUR 48,450, and one of 45 m2, in the wider city center, which is sold at exactly EUR 50,000. Both are renovated apartments in old buildings and they are fully equipped.

Bigger apartments, such as a four-room apartment of 82 m2, are sold at a price of EUR 72,000 and more. The one costing EUR 72,000 is fully equipped, renovated, and as the owners pointed out, it has 2 bedrooms, 1 living room, a kitchen and a dining room, a bathroom and a glass-paneled balcony.

How to buy an apartment in Italy?

Very often, agencies in Italy require purchasers to make written offers for the purchase of a property and, just as often, they require a deposit payment to be made so as to make sure that you are sticking with the purchase. The internet also recommends a lawyer or a legal advisor in order to finish the whole procedure more easily.

When an agreement is reached with the agency, the duty of the hired lawyer is to prepare a preliminary agreement or “compromesso”. Ownership is not transferred through this agreement, but all the sales details are listed and the seller is given time to collect all the necessary documentation until the agreed date.

The buyer (who needs to have an Italian tax number) replaces the deposit of 20-30% of the sales and purchase price in the agreement, and this is the job of notaries over there.

After the preliminary agreement, the notary needs to prepare the final agreement. When that agreement is signed, the purchaser needs to pay the rest of the money as defined by the agreement and all other fees and taxes through the notary.

The fees and taxes amount to around 10-12% of the purchase price of the real estate and among them are the property tax, the agent fee, notary fees, the transfer tax etc.

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