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We talk about how much you can save by purchasing bank collateral real estate

You can buy an apartment not only from private individuals and developers. Real estate confiscated from former owners for one reason or another is sold much cheaper compared to similar market offers. It’s not just apartments that are put up at auctions, public auctions and collateral databases. Sometimes country houses, garden plots and commercial real estate are sold there. Together with lawyers, we analyze the main advantages and disadvantages of buying bank confiscated property.

The category of bank collateral includes those properties that were purchased with borrowed funds. “The rule applies: if the borrower under a mortgage agreement stops paying the debt on the loan, the bank or other credit institution has the right to seize and sell the collateral real estate,” says Alexander Tarasov, lawyer, managing partner of the law firm AVT Consulting. For reference: Russians' mortgage debt.

In accordance with Art. 348 of the Civil Code of the Russian Federation, foreclosure on such property is allowed if the deadlines for making payments are violated more than three times during the year, and also provided that the amount of the unfulfilled obligation is more than 5% of the value of the pledged property, explains the legal consultant of the Taganskoye office of the secondary market department. Inkom-Real Estate" Ivan Labeka.

Among the offers for the sale of collateral real estate there are really profitable options. There are several ways to buy such housing. At the same time, different acquisition schemes have different degrees of risk.

At a bank auction

Banks sell collateral real estate mainly at auctions, says Vladimir Starinsky, managing partner of the Starinsky, Korchago and Partners bar association. With this scheme, real estate is sold with the voluntary consent of the debtor - the creditor bank agrees on the sale of the pledged property out of court. “Most likely, in the coming years, auctions will be held more often, since banks one way or another need to get rid of such real estate,” says Starinsky.

All auction participants make a deposit of no more than 5% of the initial sale price of the collateral property. For the losers, this deposit is returned in full, and for the winner it goes towards a future purchase. “It is worth noting that the auction is won by the person who offers the highest price for the property being sold. The starting price of the lot is determined by an independent appraiser,” adds Alexander Tarasov. Moreover, if the valuation value is clearly significantly lower than the market value, this may indicate risks associated with the real estate being sold and the organization of auctions, warns Margarita Zakharova, lawyer at the Yukov and Partners Bar Association.

It is unlikely that it will be possible to purchase the property of problem borrowers at a significant discount using this scheme. “Banks are trying to sell such real estate at more or less market price,” explains Evgeniy Korchago. And as a result of the gambling competition, the cost of the object during the auction can easily exceed the market average.

In addition, there is a risk of purchasing a home with a surprise. The apartment may be registered by former owners, children or people with disabilities, who may be impossible to remove from the registration register. Thus, vacating the apartment may take a long time. “To avoid such a situation, before purchasing a mortgaged apartment, it is advisable to contact the registration authority and make sure that no one is registered in the apartment,” advises lawyer, managing partner of the law firm “AVT Consulting” Alexander Tarasov.

At public auction

If the borrower does not pay the loan and is not ready to sell the home voluntarily, by court decision the apartment is put up for public auction. They are held either on the personal Internet platforms of credit institutions or on specialized platforms. “Selling property confiscated by a bank for non-payment of a loan through public auction is a longer and more complex method. They take place only after the end of the trial, in which the court, at the request of the creditor bank, decided to foreclose on the mortgaged property,” says Alexander Tarasov.

As with an auction, the apartment goes to the person who offered the best price. “If the auction did not take place, then the price of the object may be reduced by 15% at a repeat auction. But, of course, there are many applicants for purchase for the most popular real estate properties, and therefore the price for them will not decrease. The real chance to profitably purchase real estate at public auctions is to constantly monitor ongoing auctions,” explains Margarita Zakharova.

Bidding and the purchase and sale agreement may be declared invalid - this is one of the key risks. For example, if the organizers or participants violate the rules of the auction and thereby influence their result. “To make sure that the auction is authorized, you should ask the organizers for information about the availability of a judicial act or other documents confirming the possibility of selling the property at the auction. In addition, it is necessary to study the regulations on the bidding procedure,” warns Alexander Lysyakov, senior lawyer at the independent legal group Strizhak and Partners.

Within three years, the former owner has the right to challenge the decision to impose a penalty. “If the court upholds the former owner’s complaint, the bona fide buyer will be obliged to return the collateral property. And the bank, in turn, will return the money spent to him. But this is a long and labor-intensive process. If the property was confiscated based on a court decision, it is important to make sure that it came into force and no one disputes it at the time of the transaction,” warns Alexander Tarasov from AVT Consulting.

On the bank's online storefront

Banks post apartments that could not be sold during the bidding process on their official websites. The bank’s task is to sell the collateralized housing in a short time to cover the debt and resulting losses. “As a rule, the sales price of such real estate corresponds to the average market value. At the same time, the bank guarantees the legal purity and transparency of the transaction,” said the press service of VTB Bank.

However, if a credit institution cannot sell property at the right price, it will always strive to sell it cheaper, says Evgeniy Korchago. “Real estate is a non-targeted asset of the bank; it has nothing to do with it. Therefore, the discount can be up to 50% in total, and sometimes more. I can give you my own example. The apartment that I purchased from the bank was not sold over the past six months and was revalued downward three times,” he shares.

Many banks provide loans with a more favorable interest rate for the purchase of housing from a collateral base. “The client can count on preferential terms. For example, for a preferential mortgage rate or a free letter of credit for payments,” comments Alexey Okhorzin, director of the retail products department at MKB. “The buyer can pay for the purchase of property either at his own expense or by attracting bank credit funds on special preferential terms,” added the VTB press service.

There are indeed very few risks for the buyer with such a scheme, confirms Denis Frolov, head of the commercial practice of the BMS Law Firm. “But it is worth considering that the buyer himself must study the history of the apartment, since the bank is not obliged to inform him about all the nuances,” he warns.

However, as in the case of auctions, you will not be able to view the apartment before purchasing. “Neither banks, nor other mortgage holders, nor bailiffs provide such a service. You have to evaluate an apartment only by its external features. You can look at the condition of the entrance and the house. That is, find out when it was built or what material it was made of. The maximum is to talk to your neighbors,” advises Ivan Labeka.

Not yet confiscated: a mortgaged apartment can be purchased directly from the borrower

A borrower who finds himself in a difficult financial situation can independently sell his home and use the proceeds to pay off the balance of the debt. “Pledged property, until it ceases to be private property and is simply pledged to the bank, is not sold by banks. Such property, in the event of a borrower’s default, is sold by the borrower himself with the consent of the bank,” explains Alina Kuberskaya, head of the information policy department of Russian Auction House JSC.

If the debtor cannot or does not want to pay the loan, both parties are interested in repaying the debt as soon as possible. “A purchase and sale transaction takes place between the debtor and the buyer, settlement between the debtor and the bank and the removal of the encumbrance. As a result, the buyer purchases an apartment, the bank receives money, and the debtor gets rid of the debt,” says Denis Murdalov, lawyer at the A2 law office.

With this option, the potential buyer receives a great advantage - he can personally inspect the apartment or invite experts to assess the technical condition of the property. In addition, there is a good chance of getting a discount. “In this situation, the borrower needs to find a buyer as quickly as possible and receive funds to pay off his debt to the bank, so he is ready to significantly reduce the price,” says Ivan Labeka from Inkom.

Property can be re-registered by law only after the debt has been fully repaid. Only in this case will the bank remove all encumbrances from the property. But in the meantime, the former debtor may change his mind about selling his apartment. As a result, the buyer will neither be able to receive the money paid under the agreement from the bank, nor force the seller to formalize the transfer of ownership. In addition, dishonest borrowers sometimes take deposits from several interested parties at once.

The easiest way to protect yourself is to conclude a comprehensive deal between the buyer, seller and mortgagee, says Yevgeny Korchago, a member of the council under the Chairman of the Federation Council for interaction with civil society institutions. “Repayment of the mortgage occurs simultaneously with the transfer of ownership. In this case, the funds are deposited in a safe deposit box, and it is not the seller, but the pledge holder who gains access to them. If the amount from the sale of an apartment is greater than the amount of the deposit, then the funds can be pledged in two cells. This method really works; we often have to support such transactions,” he says.

Prices and legal advice

Buying collateral real estate attracts with its price tag. The logic here is simple - the trading platform needs to sell the property, so the starting price is not close to the market price, explains Inkom-Real Estate expert Ivan Labeka. “And since the average buyer is not looking for an apartment on electronic trading platforms, there is no rush among buyers in this market segment, so the apartment is often sold at a price not much higher than the starting price,” he adds. “If you analyze the prices of collateral real estate, they are lower than market prices by an average of 10-15%,” says Alexander Tarasov.

“Practice shows that such real estate purchase schemes may be of interest to those who are looking, for example, for apartments in a specific area, of a certain size, but there are no similar offers on the market,” adds Alexander Tarasov from AVT Consulting.

The risk of buying a problem property among collateral real estate is reduced. Before concluding a transaction, the credit institution independently verifies the collateral. Such housing must be listed on the market and be liquid in case the bank needs to sell it on its own in the future. “The risks of the buyer of such real estate are no greater than with a regular purchase and sale. The only difference is the large volume of documents that need to be studied before making such a transaction,” says lawyer Denis Murdalov from A2.

Experts recommend that buyers of mortgaged apartments request in advance an extract from the Unified State Register of Real Estate, technical documentation, an extract from the house register, and carefully study the report on an independent real estate assessment. “The potential buyer also needs to familiarize himself with the terms of the pledge agreement and understand whether the pledge holder justifiably foreclosed, as well as whether the procedure for selling the property complies with the terms of the agreement,” advises Margarita Zakharova, a lawyer at the Yukov and Partners Bar Association.

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Arguments from T-Zh readers

According to a survey, 52% of Russians would like to invest their accumulated money in real estate.

Anna Dokuchaeva

I followed the discussion

Among the readers of T-Zh, the debate continues about whether this investment idea has the right to life. We carefully studied the opinions of both sides and collected their main arguments in one collection.

👍 Pro: you can make money on real estate, even if you don’t understand this issue at all

Anna Bessonova wants to buy an apartment abroad

I bought an apartment with a mortgage in 2013. Cost - 1,650,000 RUR, down payment - 650,000 RUR. I made minimal cosmetic repairs to it and began renting it directly without furniture. Tenants were immediately found who were looking for just such housing, since they had everything, including a gas stove, and they urgently needed to move out of their previous place. I rented out an apartment for 14,000 R, and paid 12,800 for the mortgage. So I still had money left for utilities.

I restructured it six months later, and in 2016 I paid off the principal debt and closed the mortgage. Afterwards I immediately bought another apartment, but in installments from the developer. The residents of the first apartment moved out after four years: they went to Moscow to earn money. I made inexpensive repairs again, bought furniture on Avito and started renting out again. Enough for both installment payments and utilities for a new apartment. I pay for utilities in the old one myself.

In 2013, I had no idea about investing. This is now information about this from each iron. But I still have never regretted my purchases. And, despite the fact that I have already discovered investing in stocks and bonds, I still plan to purchase real estate, but abroad. Now I’m saving up for a down payment and studying the issue from all sides.

The existing apartments are my pension. Moreover, when the child grows up, I think it will be easier for him to start living with his own living space. It would have helped me in due time.

👎 Cons: real estate is too complex an investment

Nikita Popkov put everything on the shelves

Investing in real estate has nothing to do with “getting a mortgage and renting out an apartment.” Investment is something that makes money, not saves money. Own housing, especially the only one, is the same liability as rented housing, just on different terms. This has nothing to do with investments; investments are assets.

An apartment can be an asset when you rent it out, but due to low profitability, liquidity and hassle with tenants, investors do not engage in this. You can also rent it out on a daily basis, but in terms of labor costs it looks more like a business.

To really make money on housing, you need to meet several conditions. Firstly, an investment apartment should not be your main living space. Secondly, you should not buy it with your last money; the apartment should be one of your assets. Thirdly, profit is generated not by leasing, but by increasing the value of the property after its delivery and the development of nearby infrastructure. Fourthly, real estate is initially valued as an investment and has no other purpose. That is, it is something liquid that has potential regardless of your personal views on whether such a place is worth living in. An example is an apartment in the middle of an industrial zone without a single tree, but half an hour from Moscow City. Fifthly, you are ready to regularly spend a lot of time studying all the nuances associated with the real estate market, travel around Moscow, study documentation, observe racks, the state of affairs of developers and carefully monitor word of mouth on specialized forums.

In my opinion, as an investment, real estate is very complex. There will never be so many nuances and pitfalls in securities. As a result, if the stock market scares you, then it’s better not to get into real estate at all.

So for an average person like me, real estate is only suitable as a way to save what they have acquired in case of big changes. Ideally, abroad. Potentially, give it to the children later.

👍 Pros: apartments in good areas will always be in demand

Maxim Tcepelev follows trends

Real estate is one of the tools that allows you to preserve resources in a material format. You won’t be able to live in an OFZ, but it’s easy to live in an apartment. In addition, a black swan can come from anywhere, and Russia is a risky farming zone. Foreign currency deposits may be cancelled, OFZs and securities may also be left without pants. For those who don’t believe, look at our history over the past 30 years.

In my opinion, it all depends on the specific object, location and offer. In the regions there are more liquid properties than real estate in the capital or St. Petersburg, where the market is overheated. You can get 12-15%, but you need to know the places.

Moreover, you need to understand modern trends in urbanization: in the near future, all of Russia will live in 5-6 cities. Apartments in the center with good infrastructure, located near the main places of work, will always be in demand.

👎 Cons: you will spend more on an apartment than you earn on it

It's funny people who think they can earn something by taking out a mortgage at 10% and renting out their home for 5%. For example, they took a one-room apartment for 6 million rubles with a down payment of 2.5 million. They rent it out so that 30,000 rubles for rent would cover the mortgage payment. And so on for 20 years. But a simple deposit will give these 6 million years in 10. And I’m not even talking about any investments in foreign currency bonds, mutual funds, ETFs, etc.

In 20 years, the apartment will become a secondary property, into which you will still have to invest money for repairs. And it will not rise in price so much that it will be profitable: there is no longer a low base effect, as in the 1990s and 2000s.

Will you give it to the children? They will simply sell it and buy housing where they want to build their life, study, work. If you love your children so much, learn to invest.

👍 Pro: real estate prices continue to rise

Investing in real estate is certainly worth it. For example, in 1999, after the crisis, when the entire construction market was at a standstill, my parents bought a one-room apartment in the province for 120,000 RUR. Another 20 thousand were invested in repairs. Yes, these were the prices 20 years ago. In 2011 it was sold for 1.5 million rubles. In 2006, I bought a three-room apartment for 1.2 million, and in 2017 I sold it for 4.5 million. If not for the crisis, I could have sold it for another 500 thousand more. I calculated that in 10 years I received about a million rubles in profit from renting out.

Finally, the other day a neighbor in the garage boasted that he sold a one-room apartment for 2 million, although a year ago he bought it for 1.8 million rubles. During the crisis, I raised 200 thousand from scratch! Who else will talk about the worthlessness of real estate and the preference for candy wrappers like stocks and bonds?

Purchasing new housing in a prestigious area is always important. If it’s not the foundation pit stage, but the roof is being installed soon, then everything will be fine. In addition, I paid for the property - and here it is, always nearby. You can calmly decide what to do with it: sell it, rent it out, live on your own. A real asset, just don’t be stupid.

👎 Cons: the cost of the apartment may fall

The apartment has low liquidity, so its price can either rise or fall. For example, if the area turns into a criminal ghetto, a chord will be built under the windows or the residents will drown 10 neighbors and run away.

With all the love Russians have for “their” apartments, I still don’t want to get involved in such schemes and choose long-term investments.

👍 Pro: no one will take your property

Maxim Shanaev I am convinced that an apartment is forever

Apartments were taken away only once - in 1917. And I can’t count how many times money and other material assets were taken away. I would rather believe that they can do the same with Lukoil as they did with Yukos, or nationalize Sberbank by buying back shares at par. But it’s unlikely that people’s housing will be taken away.

👎 Cons: in fact, you can lose your apartment at any time

Viacheslav Ivanenkov knows how real estate is selected

Many commentators write about apartments as a super-reliable eternal value that can be passed on even to grandchildren. This is not true at all.

You can take away almost any apartment: organized crime groups operating in the real estate market have developed a lot of schemes. If you bought on the secondary market, then among the former owners - regardless of the length of the sales chain - there may be a cunning person who will collude with a psychiatrist and submit a statement to the court about his insanity at the time of selling his own real estate. And that’s it, you won’t be able to do anything: your apartment will be confiscated.

If you are buying a new building, then a scheme involving bankruptcy of the developer-contractor is possible. According to bankruptcy law, any transaction within the previous four years is contested. And again there is a good chance of losing your apartment.

👍 Pro: you can always sell real estate and get real money

Alexey Vdovin believes in a bright future

Imagine suddenly steep sanctions, or a crisis like in 1998, or a dollar worth 200 rubles. You bought OFZs for rubles - and you will receive them upon redemption. Ruble deposits are devalued, half of the banks are going bankrupt, and the free circulation of currency is prohibited by law.

And real estate is real estate. Even if it becomes cheaper, no one will give it away for free. At least for some money, it can still be sold. In addition, so that the apartment does not stand idle, it can be rented out. Even if the income is small, it is still income. And the tax from 2019, by the way, is 4% if you rent out housing as a self-employed person.

But keeping all your savings in real estate is just as wrong as investing all your capital in OFZs. No one has canceled diversification: real estate, ruble deposit, some shares, ETF, OFZ on IIS with tax deduction, cash dollars or euros in a box, an impersonal metal account.

👎 Cons: the apartment may stop generating income

The cost of the apartment will most likely increase, but you can only take a profit at the time of selling the property - when the money is in your hands or in your bank account. Of course, everyone always assumes the best option: that the apartment will be sold at a profit. But they might not sell it at all: anything can happen.

Imagine the situation: you bought an apartment with a mortgage to rent out. In 15 years, it has paid for itself - that is, your housing costs are equal to the income received from tenants. And then your son says that he wants to get married and live separately. You, as a caring parent, give this apartment for free use to your children. Thus, your return on investment will be zero. This will no longer be investing, but preserving capital from inflation.

Buying real estate on the prestigious Italian coast is the dream of many Russians. Such an acquisition promises the owner many pleasant bonuses. However, there are also disadvantages that you need to know about before you decide to take this expensive step and buy an apartment in Italy.

Italian legislation does not provide for any difference in the procedure for acquiring real estate by citizens of the country and foreigners. This means that any individual, regardless of citizenship, can acquire ownership of:

Apartment;
Land plot.

To complete a transaction, a citizen of Russia or a representative of another country in the post-Soviet space does not need to open a company, as is required by some other European countries. The main thing is to follow the procedure prescribed by law and prepare the documents correctly.

To assess the advantages and disadvantages of purchasing real estate in Italy, first of all, the buyer must decide on the purpose for which he plans to carry out this transaction.

Long-term investments. One of the advantages is the fact that square meters of Italian real estate have a steady upward trend in value. Even the crisis that hit most European countries failed to reduce their prices by more than 10%. The Italian real estate market is not artificially inflated, and therefore retains and increases its value. The downside is the low liquidity of residential properties. A buyer can spend years searching for suitable housing and also take a long time to sell it.
Renting out real estate. A guaranteed income can be considered a plus, since Italy annually welcomes millions of tourists from all over the world. Plus, renting out your home is easy. Any real estate agent will be happy to take on the responsibility of maintaining the property and paying bills for an agreed fee. The disadvantage, in this case, will be the low level of income, which per year will not exceed 5% of the investments made. Another disadvantage may be the inability to evict long-term tenants, since the law of the country protects their interests.
Your own vacation. Real estate in Italy allows you to spend a long vacation in this sunny country, saving on living costs. But if the owner gets tired of coming to the same place year after year and wants change, the expensive maintenance of an empty apartment or house will become a significant disadvantage.
Permanent residence. Undoubtedly, having your own home in a country where a Russian plans to live is a plus.
. Many people mistakenly believe that the acquisition of square meters will automatically give the owner a residence permit with subsequent opportunity. This is wrong. If there is real estate, a Russian can only count on unhindered receipt, allowing him to stay in Italy 6 months a year.

Italy is famous for its luxurious villas and ancient castles on the Mediterranean coast. Many investors from Russia purchase quite expensive properties for permanent residence or temporary stays. However, you should not think that buying real estate in Italy is affordable only for very wealthy people.

The real estate market in this country is very diverse. With some effort, any Russian, Belarusian or Ukrainian can find and buy an apartment comparable in price to real estate in their homeland. The main thing is to know which regions you should pay attention to.

In search of inexpensive properties, you should not go to the north of the country. The cheapest real estate is located in its southern part. They are the ones who are less developed industrially and economically, so they cannot boast of high prices. In the south, it is quite possible to buy a small apartment for around 10 thousand euros, and a rural house will cost 20-30 thousand European rubles.

A feature of the Italian market is the stable and conflict-free proximity of luxury buildings and inexpensive housing. It manifests itself most clearly on the island of Sicily. The largest number of inexpensive properties that are of interest to buyers with average incomes are located here.

A little more expensive, but at the same level of accessibility, you can find a suitable property in the southern region of Calabria. Prices in this region are influenced by:

Remoteness from fashionable, respectable resorts;
Low economic development.

For relatively little money you can buy a house with a good plot of land here. And it will be located just a few kilometers from the sea coast, in the land of evergreen olive groves and lush vineyards.

If the buyer prefers ski resorts, he will be satisfied by purchasing an apartment in the Alpine regions, not far from Switzerland. True, such real estate will not be located near fashionable winter holiday destinations with expensive restaurants and clubs, but in a picturesque northern village. But when purchasing a cheap house in the north, you should be prepared to spend money on its renovation and improvement to your own taste.

The procedure for selling and purchasing real estate is clearly regulated by Italian laws. It involves several stages, each of which is accompanied by the execution of certain documents. After the choice is made, the buyer has to:

Get a tax identification number. This can be done at the territorial tax office of the city in which the purchased housing is located. To get a number, you just need to have your passport with you.
Open a personal bank account. For this purpose, you can contact any office of any bank.
Make an offer to purchase real estate. This document is drawn up in writing and implies payment of a fee in the amount of 1% of the cost of the property or a fixed amount agreed upon by the parties, confirming the seriousness of the buyer’s intentions.
Sign a preliminary version of the purchase agreement. This document contains detailed information about the parties, as well as a description and technical characteristics of the transaction object. Often at this stage it turns out that the housing is pledged to the bank as part of a mortgage agreement. There is no need to be afraid of this, but it should be taken into account that an authorized bank employee must be present when making a transaction. When signing the contract, the buyer makes a deposit of 10% of the cost. If he refuses the transaction, he loses this money, but if the seller changes his mind about parting with his real estate, he is obliged to return the deposit received, but in double the amount.
Draw up the final version of the contract. The consent of the parties to the transaction is certified in the presence of a notary. At the same time, the final payment is made, and all taxes and fees provided by law are paid. Ownership of housing passes to the new owners at the moment of signing the document. Based on it, you need to reissue bills for water, electricity, gas, and garbage collection.
Register the agreement. Registration is carried out at the Cadastral Registry Department and takes about a month. After legal registration, buyers can receive an extract in which they will be indicated as the owners of the property.

Ways to conclude a deal

A real estate purchase transaction can be completed in two ways:

With the personal participation of the buyer;
Through intermediaries acting under a power of attorney.

Most often, payment for the selected real estate is made using bank checks. This means that the buyer must have a sufficient amount in his account to complete the transaction.

However, you shouldn’t give up your dream of becoming an apartment owner in Italy even if you don’t have enough money. In European countries, a mortgage lending instrument has been developed. You can take out a mortgage at a small percentage, by Russian standards. However, this method of purchase requires compliance with additional conditions.

The buyer has to prove his creditworthiness and wait for bank approval. The waiting period can last from several weeks to 2 months. When applying for a loan, you should remember that foreigners cannot count on receiving an amount exceeding 60% of the cost of housing. Accordingly, the buyer must have funds available that can cover not only 40% of the price of the property, but also all costs associated with the transaction.

Prices on the Italian real estate market can vary significantly. In different regions of the country, housing of the same level can cost 10 thousand euros, or hundreds of thousands in European Union rubles. The pricing policy takes into account the following factors:

Region. The southern regions, such as Calabria and Sicily, can offer the lowest cost. The price per square meter here ranges from 1 to 2.5 thousand euros. The closer you go to the north, the higher the prices. In Lazio, an apartment will cost 3 thousand euros per square meter, and in Liguria, Lombardy, Tuscany, sellers can ask for up to 15 thousand euros per square meter.
Housing type. Properties on the secondary market are cheaper than new buildings.
Location. The further the apartment is located from historical attractions, fashionable seaside resorts or fashionable lakes, the less money will be asked from the buyer.

The cost of houses also depends on several main factors:

region of location;
proximity to sea or ski resorts;
Area of construction and land plot;
Housing class.

Of course, luxury villas with swimming pools built on the coast cannot compare with rural houses. The cost of houses can vary from several tens of thousands of euros to millions and even billions of European rubles. The market is replete with offers and is limited only by the financial capabilities of the buyer.

In 2020, the amount of taxes that Russians must pay when buying a home in Italy has not changed. It depends on several main indicators:

Type of housing;
Tax status of the foreigner;
The amount of housing owned by the buyer.

When making a transaction, non-residents must pay different amounts and types of taxes depending on its conditions.

The law provides for higher tax rates for foreign buyers than for Italian citizens, but non-residents have the opportunity to take advantage of certain tax breaks when purchasing. You can receive relief if the following conditions are met:

The property should not have the status of elite housing, that is, officially belong to the luxury class;
The purchased apartment or house must be the foreigner’s only home in Italy, that is, fall under the “first home” classification;
A non-resident must register at the address of the purchased property within 1.5 years from the date of the transaction, for which he must obtain a residence permit.

If a foreign buyer takes advantage of the benefit, but does not obtain a residence permit within the period specified by law, he will have to deposit the amount of saved taxes into the Italian treasury and pay a fine that will be equal to 30% of its amount.

Also, when purchasing real estate, you should know that when purchasing an apartment from the owner on the secondary market, you need to calculate 9% VAT not from the market value of the property, but from its cadastral valuation, which can be significantly lower. For example, a seller may ask 3 million euros for a villa, while its cadastral value will be only 600 thousand euros. In this case, VAT will be much less.

Every year, real estate objects are taxed in the amount of 0.4-0.7% of their cadastral valuation. The calculation is made individually, taking into account the rates accepted for specific regions.
In Italy, homeowners are required to insure their property. The amount of annually paid contributions is 1-2% of the cost.
Owners are required to bear the financial burden of maintaining the areas adjacent to the facility, as well as the building itself. The amount of payments for an apartment can range from 200 to 5 thousand euros per year, while for a villa you will have to pay the condominium annually from 1 to 6 thousand euros. At the same time, maintaining swimming pools, gyms, security, and concierges on the territory of the facility can significantly increase the amount of payments, since the costs are divided between all residents of the complex.
Don’t forget about utility bills for electricity, water, gas, garbage collection, Internet and television services. These expenses are made based on meter readings and contracts concluded with service providers. Utility tariffs may vary by region and time of day.

Buying property in Italy is undoubtedly a serious step. Such an acquisition may require both expensive investments and relatively small investments. In any case, since a foreigner will not be able to get free housing, he should realistically assess his financial capabilities before going to Italy to look for an apartment or house.

Updated: 11/21/2018 10:28:47

Expert: David Lieberman

*Review of the best sites according to the editors. About the selection criteria. This material is subjective in nature, does not constitute advertising and does not serve as a purchase guide. Before purchasing, consultation with a specialist is required.

Selling real estate via the Internet is a fairly effective way to attract solvent clients who are ready to buy a house or apartment. In addition, labor costs for advertising and other “promotion” of the property are minimal. It is enough to place one ad and interested clients will call themselves.

Rating of the best sites for selling real estate

Nomination	place	Name of product	rating
Rating of the best sites for selling real estate	1		4.9
	2		4.8
	3		4.8
	4		4.8
	5		4.8
	6		4.8
	7		4.7
	8		4.7
	9		4.6
	10		4.6
	11		4.5
	12		4.4
	13		4.0
	14		3.8

Why it: Large database of advertisements, easy search and useful articles.

The website for real estate sales advertisements realty.mail.ru is one of the most “friendly” platforms for both experienced real estate owners and those who place such an offer for the first time. Thanks to a huge database of useful articles, it will help you prepare a house or apartment, and will tell you which features are worth highlighting – and which shortcomings, on the contrary, should be hidden.

The site will offer buyers a convenient search, clear text of offers (where all the most important things are brought to the fore) and will suggest additional options.

The site also acts as a cataloger of advertisements from other sites. That is why it has a fairly large base. So, for Moscow and the region, at the time of writing this material, about 200 thousand advertisements for the sale of real estate were posted on the site. The Alexa web service shows that the site has about 2 million views per day.

Advantages

Free placement of up to 5 advertisements for individuals, manager assistance;
Large database of reference and information materials;
Ads that are clear to buyers.

Flaws

Not a very large database of advertisements in the regions;
Not entirely correct search in regions.

Why it is: The largest classifieds site in Russia.

Avito is the largest platform for publishing advertisements of any kind in Russia. The “Real Estate” section is also present on it. And it is quite well developed - you can specify in detail all the features and characteristics of the property being sold.

This is its advantage. When submitting an ad, not only the area of the property is indicated, but also additional parameters such as amenities, type of house, location, etc. This helps to find an ideal buyer who is interested in an apartment of certain parameters - and therefore is willing to pay for it.

The database of offers for the sale of real estate on Avito is very large. At the time of writing this article for Moscow and the region, there were about 93 thousand active publications. According to the Alexa web tracker, site traffic is about 750 thousand people per day. But this number does not include mobile app users.

Advantages

High customer loyalty;
Quite convenient search for advertisements;
Detailed advertisements.

Flaws

Missing knowledge base;
You will have to pay to place an ad;
Lots of imposed paid services.

Why it is: Active promotion of the site itself, due to which there is a large influx of new users.

Yula is one of the youngest ad sites in the ranking. However, it takes an honorable third place due to its active promotion, user-friendly interface and the presence of a special application. In particular, thanks to the promotional campaign, site traffic is about 150 thousand people per day (according to the Alexa web tool); statistics on the number of advertisements are not published by the service.

One of the most attractive features of the service is the search for ads based on the location of the buyer. Therefore, it is ideal for people who want to purchase real estate in megacities and “million-plus cities”, where, due to transport problems, it can be quite difficult to get to work or, for example, school.

The proposals themselves offer a high degree of detail - you can specify almost any property parameters. In addition, the site is convenient and beautiful.

Advantages

Search for real estate by location;
Detailed advertisements;
Free placement, minimum paid services.

Flaws

Registration only through social networks or by phone number;
The site is focused primarily on the sale of goods and services.

Why it: Maximum convenience for customers.

The Yandex.Real Estate service is designed in such a way as to make choosing an apartment or house as convenient as possible for users. There are many mapping services, reference materials, a mortgage calculator, samples of documents required when concluding a transaction, comparisons, notes, sales history in this house and other useful functions. The search for apartments is also implemented in a minimalist but convenient way.

The service acts not only as its own platform for publishing advertisements, but also as an aggregator of lots from other platforms. That is why there are many real estate properties presented here. Thus, at the time of compiling the list, more than 150 thousand advertisements are available in Moscow and the region.

The audience of the service is also huge. Web analytics tool Alexa shows that the site receives about 3 million visitors per day, while its own advertising is not so positive and says about 300 thousand per day.

Advantages

Huge database of useful materials;
Logical, concise announcements;
Maps of air cleanliness and transport accessibility (a unique feature in the rating).

Why it is: The largest platform for selling real estate.

"CIAN" is a professional service for selling real estate. He even independently determines the recommended price of an apartment or house! In addition, both the cadastral valuation and the tax amount are demonstrated, various characteristics of the area, price dynamics and many other parameters are displayed.

CIAN also cooperates with banks for the simple sale of an apartment with a mortgage. Ads are as detailed as possible, but at the same time understandable for buyers. The publication is very simple, in a wizard format with tips. True, placement is only paid and purchased for a limited period - mostly for a week. But the prices are more than adequate.

Thanks to this professional service, the site is very popular - at the time of writing, it contains about 60 thousand advertisements for the sale of real estate in Moscow and the region. According to the web analytics tool Alexa, CIAN’s traffic is about 100 thousand people per day.

Why it: Lots of useful materials for sellers and buyers.

"Domofond" is one of the oldest and most authoritative websites dedicated to the sale of real estate in the ranking. The site is a database of not only advertisements, but also practical materials for buyers and owners of such property. There are many additional services, including a mortgage calculator, a bank of sample documents, an assessment tool, display of price dynamics and market analytics.

The site features a user-friendly interface and a well-developed search mechanism. And one of the most pleasant features of the service is quick access to mortgage programs. Such a “loan” can be issued directly on the ad page.

The Domofond offer base, thanks to its own publications and collection from other platforms, is huge. For example, at the time of writing, it offered more than 100 thousand real estate properties in Moscow and the region. The Alexa web service reports that the site is visited by about 50 thousand users per day.

Advantages

Large database of advertisements;
Integration with Avito.

Flaws

No free placements;
There are many imposed paid services (even for the buyer).

The World of Apartments project was developed by the Russian Guild of Realtors with the goal of making the real estate market transparent, understandable and civilized. Therefore, sellers on it are represented mainly by professional and reputable real estate agencies, thanks to which trust in the platform from adequate buyers is maximum.

Of course, property owners who want to sell their apartment or house themselves can also place an ad here. Moreover, the site offers free publishing and the prices for premium features are more than reasonable. Before posting an ad, the owner can study a lot of useful materials and also get access to price analytics.

All this makes the site one of the largest - for example, at the time of writing, more than 50 thousand real estate properties are presented in Moscow and the region. The Alexa web tracker shows that the site is visited by more than 14 thousand people per day.

Advantages

Authority of the platform;
Free publication and reasonable prices for premium features;
Large database of reference materials.

Flaws

There are many realtors;
There are a lot of real estate properties at the “pit” level, which complicates competition.

Why it: One of the oldest ranking publishing platforms.

The “From Hand to Hand” project grew out of a newspaper of the same name with advertisements, so its experience goes back more than a decade. And this manifests itself in the site interface. Nothing superfluous, everything is simple, concise and focused specifically on the sale and purchase of real estate.

The site is trusted by both sellers and buyers. Thus, at the time of compiling the list, it offers more than 100 thousand residential, non-residential and commercial real estate in Moscow and the region. The LiveInternet web analytics tool shows that the site receives about 300 thousand visitors per day. In addition, the project has a mobile application.

Offers are posted free of charge by default, but if you wish, you can use premium services for faster sales. The interface of the “cards” is minimalistic but informative, thanks to which the buyer will receive all the necessary information at one glance. And this also increases loyalty.

Advantages

Free placement;
Large audience of users;
Simple and clear advertisements.

Flaws

Not a very developed real estate search system;
The site does not specialize in selling real estate; it mainly publishes general advertisements.

Why it is: One of the largest real estate portals in Moscow.

"Muv.ru" specializes in real estate in large cities and the most populated regions. That is, posting an advertisement for the sale of an apartment in some remote or even provincial region on this site is simply pointless. But the portal is ideal for owners and realtors from Moscow, St. Petersburg and similar areas. And for those who want to make money from this, you can even open your own virtual real estate agency here.

"Muv.ru" is best suited for the sale of high-class real estate - for example, new buildings in the central areas of the city or premium apartments. Agents and specialists can help homeowners if they need to sell their home as quickly as possible.

At the time of writing, the portal contains about 90 thousand advertisements for the sale of real estate. According to the web analytics tool Alexa, the site is visited by about 20 thousand people per day.

Advantages

Help from real estate sales specialists;
Large database of information and reference materials;
Cooperation with developers, real estate agencies and financial institutions.

Flaws

Narrow specialization.

Why it: A huge amount of analytical and additional information.

RBC Real Estate is more of a service for obtaining financial and analytical information about the real estate market than a platform for selling apartments and houses. The fact is that the site uses the Yandex.Real Estate database (a portal that is also included in our rating).

Therefore, when you place an offer on RBC, it automatically appears on Yandex. And vice versa. But RBC serves as a source of the most relevant and trustworthy information about the real estate market - price dynamics, forecasts, analytics, etc.

At the time of writing this material, the site’s advertisement database contains several million publications - there are about 150 thousand of them in Moscow and the region alone. According to the LiveInternet web analytics service, the site is viewed by about 80 thousand people per day.

Advantages

Professional financial analyst;
High trust among solvent real estate buyers;
Huge database of information and reference materials.

Flaws

There is no own ad database, the Yandex platform is used;
Not a very convenient ad format - too little information.

Why it is: One of the largest real estate portals in St. Petersburg and the Leningrad region.

"Restate" was originally created as a real estate portal exclusively for St. Petersburg and surrounding areas. However, during its work it has grown - and now you can sell an apartment on it anywhere in Russia. However, like another similar portal in the rating (Muv.ru), it is focused on the real estate market in the two largest cities of the country.

"Restate" offers an interesting way to search for apartments - not only by room size and similar characteristics, but also by location in a particular area. This is convenient for people moving to the city. You can choose an apartment that suits your geographic location.

The ad base is quite large. For example, at the time of writing, about 130 thousand offers of real estate in St. Petersburg and about 90 thousand in Moscow were published on the site. Attendance, according to Alexa, is about 8 thousand views per day.

Advantages

Excellent for selling real estate in St. Petersburg;
Database of analytical and financial materials;
Database of realtors and their agencies.

Flaws

Poorly suited for selling real estate in the regions;
It mainly consists of announcements from developers and the sale of new buildings, which will make it difficult for owners of secondary market apartments to compete.

Why is it: Focused not so much on the features of the apartments, but on the infrastructure of the area.

"Quadrum" is an ideal platform for those who want to sell an apartment in a cozy area with rich infrastructure. Unlike other real estate portals in the rating, in its advertisements it focuses on the features of the house, yard and area. Thus, various elements of infrastructure, schools (which will especially appeal to buyers who are planning to have a child or are already raising a child), the availability of parking, the class of the property itself, and so on are separately indicated.

Unlike other portals in the ranking, Ubu is focused on social interaction between sellers and buyers. Visitors can vote on the price, indicating that it is too low or high, comment on advertisements, etc. Thanks to this, the portal is well suited for novice sellers who are not sure of the correct value of their property and the clarity of published advertisements.

But the site is not very good with other functionality. Being a classic bulletin board, it does not offer additional features, and sellers have to describe their properties in detail and detail. But placement is free, and promotion to the search list is inexpensive.

The portal is quite large. Thus, at the time of preparation of the material, about 50 thousand advertisements for the sale of real estate were published only in Moscow and the region. According to Alexa, the portal has about 17 thousand visitors and 40 thousand views per day.

“Dorus” is focused specifically on publishing advertisements, so the site does not offer any additional knowledge bases or “features”. The ad pages themselves are minimalistic; all information about the property being sold will have to be provided by the owner himself. But because of this, there are practically no realtors on the site and low competition.

Since Dorus is focused primarily on selling household items, its database of advertisements for real estate sales is small - about 7 thousand throughout the country at the time of writing. The audience, according to Alexa, is about 4 thousand people per day.

Advantages

High ranking in search engines;
Free accommodation and low-cost premium services.

Flaws

Outdated interface;
Relatively small audience.

Attention! This rating is subjective in nature, is not an advertisement and does not serve as a purchase guide. Before purchasing, consultation with a specialist is required.

You may be interested in the following articles:

The best 10 resources for those who want to sell their home quickly and without intermediaries

Below we will look at the most popular sites and how to place a paid or free advertisement via the Internet in order to put a property up for sale (or, conversely, buy it).

Avito

The most popular site for selling various goods and real estate in Russia. It has a very convenient interface with which you can find an apartment according to all the desired parameters (size, number of rooms, renovation, presence of a loggia, type of transaction, etc.). About 35 million people visit Avito monthly. About 12 million advertisements are posted.

You can publish a real estate ad for free, without intermediaries. After the publication period expires, the owner receives information about this by email. He may extend it further or remove the post from publication. It is not necessary to have intermediaries to conclude a deal.

The site has additional opportunities to promote your offer - the “Turbo Sale” package. It includes one service each “Premium”, “VIP”, “Highlight” and 6 services “Raise an ad”. The complete package costs 4,969 rubles, but you can buy its components separately. Then, depending on the region of payment and the number of products needed, the price will be from 39 rubles.

According to statistics, most of the real estate in the Russian Federation is sold on Avito. The portal has high popularity, fast efficiency and good reviews. There is a mobile version of the application.

Yula

The second most popular official website for posting free advertisements for real estate sales without intermediaries. Monthly visits – more than 30 million people. A special feature of this application is that by default, the user is shown all the offers that are closest to his home, within a radius of 100-150 km.

Placing an ad is free, but there is also a paid service for raising an ad higher in the list. Its cost starts from 20 rubles. Ads can be placed both with and without intermediaries.

There is a mobile application. Every day, by logging into it, you can receive from 20 to 75 bonuses, which you can then spend as money for promotion.

Cyanogen

In one month, about 11 million people visit the site, each of whom is interested in selling or buying a home. Cyan has a large database that includes not only home purchases, but also rentals. Users can search for specific housing based on criteria: the possibility of taking out a mortgage, type of housing, type of transaction, and so on.

The interface is quite simple and intuitive. Ads can be placed free of charge and without intermediaries immediately after registration. There is a mobile version of the application.

Like many other popular portals, Cian has the opportunity to use paid services to quickly promote your ads. What are these services:

« Paid» for 7 days from 91 rubles to 175.
« Premium» – for a week from 315 rubles to 385.
« Top 3» – 840 rubles for 7 days.
« Highlighting» from 23 rubles per day.

You can always use the “Ask a Realtor” service for free, in which real estate specialists will help you sort out any doubts and questions that may arise. For residents of Moscow and St. Petersburg, posting offers is only for a fee.

Domofond

It has just recently appeared on the real estate market, but has already taken one of the first places in the TOP 10 best sites for selling real estate. The monthly traffic of this new resource is more than 10 million. Users enjoy the convenient search for advertisements on the site, and most importantly, the opportunity to post their offers for the sale of apartments, houses, plots and other types of real estate for free.

Advertisements appear on Domofond after registration and appropriate placement on the site, as well as from Avito. The search system is made very simple. Just enter the city, district, number of rooms and approximate price, and the portal will select many different options. Small minus – a meager number of additional parameters for searching for an apartment.

The top lines of news are occupied by those advertisements that are most filled with information, photographs and descriptions. The Domofond page is updated daily and a list of advertisements and improved services is added to it. All this can be read on the main page of the portal.

As on other sites, here you have the opportunity to raise your post higher in searches by using the paid “Premium Ad” service. There is a mobile version.

From hand to hand

Private notice board on the Internet. About 1,000 different real estate advertisements are posted here every day. Monthly site traffic – more than 5 million people. An interesting difference from other sites is the free publication of offers in the printed edition on a weekly basis.

Search on the portal is carried out using keywords; there is no possibility to apply filters. For individuals, posting an ad is free, but realtors can use the “Premium Placement” service. If you want to raise your ad in the list, you can also use different services:

« Lifting» – the price varies depending on the region. In Moscow – 101 rubles.
« Selection» – 76 rubles for Moscow.
« Premium» – 256 rubles for a week.
« VIP"- 306 rubles.

You may notice that the prices for additional services are quite low compared to other online resources for selling real estate. “From Hand to Hand” has its own application on a smartphone.

Real Estate.Mail.Ru

A good project Mail.Ru, which is a portal for the sale and purchase of any type of real estate. In the “News” section you can learn about the situation on the real estate market. You can publish an ad absolutely free. This Internet resource is visited monthly by more than 4.5 million people.

An interesting difference from other sites is that on this portal you can purchase real estate in 26 different countries of the world besides Russia. The search is carried out according to two parameters: buy or rent. Filtering is applied, but only in relation to price, apartment area and cost. All other nuances can be read only in the apartment description itself.

For those looking for new buildings, there is a separate section. The portal's experts will always help with any questions you may have regarding real estate. Free publication – for only 14 days. There are additional paid services for raising advertisements. There is no mobile application.

Real estate on Yandex

Searching on Yandex.Real Estate is very fast and convenient. All necessary data can be entered through the filtering system (there are quite a lot of them). All properties are presented with full descriptions and vivid photographs. About 4 million visitors visit the site every month.

Publishing an ad is free. To make your ad more popular, you can use the following services:

« Turbo» – 699 rubles per week.
« Premium» – 399 rubles per week.
« Promotion"- 110 rubles.
« Lifting» – 20 rubles per day.

The period for posting advertisements can be extended. There is a mobile application.

Restate

To search for real estate, the system prompts you to enter the following data: city, district, residential property, price, number of rooms and floor. No other filtering is provided. You can either buy or rent real estate.

It is very convenient that It is possible to visually select real estate using a map. The offer base is huge, but the number of visitors compared to previous portals is several times less and amounts to about 900 thousand people per month.

The portal is most used in Moscow and St. Petersburg. There is a newspaper in which you can place advertisements about real estate. There are paid plans for promoting your ads. There is a mobile version.

Quadrum

More than 800 thousand people visit the site every month. Here you can publish a free ad for the sale or rental of real estate for a month without intermediaries. Few selection criteria. Users have to go through each sentence individually as there is no filtering. The site does not have its own application.

All past searches are saved on the portal. Here you can find the best deals on mortgages, new buildings, houses in cottage communities, information about realtors, agencies, etc.

There is only one paid service - “Placement at a location” for one month. The cost depends on the region and type of property.

RosRealt

The site's traffic every month is about 260 thousand people. On this portal you can sell any real estate in the Russian Federation for free and without intermediaries. You can post your news, news from your company, and write interesting articles yourself. All this is absolutely free.

Paid services include::

« VIP levels"for 500 and 1200 rubles.
« Graphic banner» costing from 2000 – 20,000 rubles depending on its type.

How can I submit a purchase and sale advertisement for free via the Internet?

On the Internet you can find a large number of portals where you can advertise that you are selling real estate, quickly and absolutely free of charge. Such sites include all of the above. The only condition for free publication of advertisements is mandatory registration and linking of the phone number to the portal.

On all portals, free advertisements are posted for different periods, most often it is one month, but sometimes less.

Thus, this article examined the most popular sites for the sale of real estate in Russia. Each of them has its own characteristics and disadvantages, which were also discussed. Any user has the opportunity to place their advertisements for the sale of apartments, houses, plots, rooms, either free or for a fee.

Useful video

We invite you to watch a video about how to search for real estate through various sites: