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Chianti Estate with Pool, Vineyard and Olive Grove
€3,800,000
$4,142,000
€
$
Castellina in Chianti, Tuscany
17
18
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Ref #: V61861
Asciano, TuscanyRef #: V61861
DRONE:
Incredible large stone farmhouse of about 766 sqm with swimming pool, land and annexes in the countryside between Asciano and San Giovanni d’Asso, in the most beautiful part of Tuscany.
Description
The farmhouse is completely renovated and has a typical stone exterior, and inside contemporary finishes. The main house has a total area of about 453 sqm, currently divided into 4 independent apartments as follows:
The main apartment has a total area of about 300 sqm arranged on two levels, composed on the ground floor of a large open plan space characterized by impressive arches. We then find the living room connected to a large dining room with direct access to an exclusive covered courtyard.
On the same floor is the equipped kitchen, library, guest bathroom and laundry room.
Going upstairs, there are 4 bedrooms with en-suite bathrooms.
There are then two identical apartments, one on the ground floor and one on the first floor, each with an area of about 60 sqm, consisting of living room with kitchenette and 2 bedrooms with en-suite bathroom. Completing both apartments is a small covered terrace with private pergola.
Finally, we find the last apartment. This is a studio apartment of about 30 sqm located on the first floor overlooking Pienza, consisting of a small kitchen, a bedroom and a bathroom.
Connected to the main farmhouse whilst being completely independent, is the annex which is on one level for an area of about 130 sqm.
With access from the courtyard of the complex through a glass door we find ourselves in a spacious living room with a mezzanine, connected on one side to the equipped kitchen with its access to the small exclusive covered courtyard. Again from the living room, we then have access to the three bedrooms, all with en-suite bathrooms.
Annexes
A few meters from the farmhouse there is a small storage room of about 8 sqm for the storage of tools and equipment used for processing.
We then find also a detached a pool house of about 100 sqm on 2 floors, composed on the ground floor, overlooking the pool, of a summer kitchen with dining room and bathroom, while in the basement, with access by a ramp, there is a convenient garage.
Condition and finishes
The property was completely renovated in 2003 and further modified in 2007 and 2016 to create a bright, spacious and contemporary home.
The rustic look has been enhanced on the outside, whilst internally the finishes are typically contemporary while still respecting the original materials. The design was taken care of by the owner, who has extensive experience as an architect and interior designer.
Outdoor space
The villa, set atop a small hill, is surrounded by 5,200 sqm of garden, dotted with shady plants, flower beds and flowers that give the property beautiful colors in spring.
Near the entrance there is also a convenient gravel parking area (1,200 sqm) where guests can leave their cars (in addition to the underground garage used by the owners).
Within the manicured garden is the 15 × 6 m panoramic swimming pool with a terracotta and grass solarium.
On the northeastern side, the property has about 250 olive trees, with additional land of about 1.2 ha allowing the production of an excellent Tuscan extra virgin olive oil (up to 300 kg in the best seasons). Small plots of arable land of about 3,000 sqm meters complete the property.
A private lake, located just across the road, allows water to be always available to irrigate the garden and the olive trees in the drier seasons.
Potential uses
The farmhouse lends itself to being an excellent accommodation business. Alternatively, it also lends itself to be a wonderful private residence for one or more families enjoying private and cozy spaces.
Location & Lifestyle
This charming farmhouse is located in the heart of Tuscany, in an area of exceptional beauty, between the villages of Asciano and San Giovanni d’Asso, 30 km southeast of Siena. In the typical countryside of Asciano lies the splendid Abbey of Monte Oliveto Maggiore, a splendid monastic complex and a treasure trove of art treasures.
Asciano is also crossed by the famous Via Lauretana, an ancient Etruscan-Roman road connecting Cortona to Montepulciano and Siena.
From Asciano you can easily reach Rapolano Terme, San Giovanni d’Asso, Montalcino, San Quirico d’Orcia, Bagno Vignoni and Pienza.
Address: Asciano, Tuscany
Location type: Rural
Condition: Restored
Bedrooms: 12
Bathrooms: 14
Property size: 766 sqm sq meters
Land size: 1.9 hectares
A notary is a qualified lawyer who is employed by the Italian government. When you are buying Italian property, it is a notary who conducts the legal transfer of a property from vendor to buyer, and prepares the deed of sale, checks there are no charges on the property, title issues and with the assistance of a technician such as a geometra or architect, checks the property conforms to all planning issues.
It is always the buyer and not the vendor who pays the purchase taxes due and who pays the notary fees also. This means that it is up to the buyer which notary is used. In practice it is usually one of the local notaries and we can recommend which one to use and which one is cheapest, as notary prices do vary.
We provide a detailed list of all fees and taxes (including the notary’s quote) before you sign any contracts.
Translator – if you do not speak fluent, enough to understand detailed legal contracts, you will need to have a translator at the notary deed. Your agent or the notary will usually arrange this so you don’t need to worry about it. The cost varies but is often 200-300 euros. This can sometimes be shared with the vendor if they are also non fluent in Italian.
This depends firstly on two things.
A. Are you buying as a resident or a non resident?
B. Are you buying from private individuals or from a company?
If you are buying from private individuals, then the taxes you pay are based on the cadastral value – a nominal value which each property has and which depends on its size, location, standard etc – nothing to do with the market value.
Example 1:
House price agreed €100,000.
Property belongs to private sellers.
Cadastral value of the property €32,000.
Let’s say you intend buying the house as a non resident (.ie. you do not intend moving to Italy permanently and applying for residency).
Taxes payable are 9% on cadastral value €32,000 so €2,880 plus a few smaller fixed taxes.
Or, if you intend moving to live in the house permanently, applying for Italian residency, then as long as you don’t already own another property in Italy;
Taxes payable are 2% on cadastral value €32,000 so €640 plus a few smaller fixed taxes. A minimum figure may be payable.
Please note, you could buy the house as a resident and pay the lower rate of tax if you intend moving there and obtaining residency within the next 18 months. Don’t be tempted to do this unless you are definitely sure you will become a resident. If you then do not, you need to pay the difference in taxes plus a penalty of around 30%.
If there is substantial land (not just a garden) with the property, then 15% is payable on the value attributed to the land, which can be quite low, eg a value of €15,000 could be attributed to the land so 15% of 15,000 = €2,250 would be the tax on the land.
Example 2:
House price €100,000
Property is being sold by a company
Cadastral value of the property is €32,000
Let’s say you intend buying the house as a non resident (i.e. you do not intend moving to Italy permanently and applying for residency).
Taxes payable are 10% VAT on full market price €100,000 so €10,000 plus a few smaller fixed taxes.
Or, if you intend moving to live in the house permanently, applying for Italian residency, then as long as you don’t already own another property in Italy,
Taxes payable are 4% VAT on €100,000 so €4,000 plus a few smaller fixed taxes.
Once we know
– which house you want to buy, its cadastral value and who owns it (company/individual)
– whether you intend to buy as a resident/non resident and if it’s your first property in Italy
only then can we ask the notary to provide a quote for the precise taxes payable.
Other circumstances
Then of course there are other scenarios.
If the value of the property you want to buy is very low (eg €50,000) then purchase costs are likely to be a higher percentage as there are set minimums to pay for all fees and taxes. So on a €50,000 house, you are likely to pay 12-15% instead of 10% (non resident).
You might want to buy a property (being sold by private individuals) with your company. Taxes are considerably higher in this case, as they would be 9% on the sale price (not on the cadastral value). So it’s cheaper to buy a privately owned property as a private individual, not as a company.
But, in the case of a country property which is a farm/winery/agriturismo, these are often owned by a farming company (azienda agricola) , which has considerable tax advantages as you can buy the farm and pay just 0-1% (depending on the circumstances) on the purchase price in tax.
Taxes would be different for a commercial purchase, eg if your company is buying an Italian company (ie a farm or other company). Buying the shares of a company usually meets zero taxes, just a few fixed fees, and notary and accountancy fees.
The above is a guide, and once you have found a property you are interested in buying, we can obtain a notary quote for you, with a full breakdown of the taxes and fees due.
Notary fees – approx 1-2%, more for a lower priced property due to some fixed taxes.
Agency fees – in Italy both buyer and seller pay the agent. These are payable to the Italian agent (one of our partners) you view the house with at compromesso (preliminary contract) stage and for each party are usually 3% plus VAT. VAT is 22% in Italy. Minimums apply. Nothing is payable to Casa Tuscany so you will not pay double the fees, you will just have double the assistance!
Compromesso registration fees – approx €380 plus a part payment of taxes which is deducted from the total taxes due at completion.
Translator for the deed signing at the notary’s office. Required if you do not speak Italian well enough to understand legal deeds. Approx cost €250 – €350 depending on the notary.
Technical report for the notary. Checks all the planning issues of the property, making sure it matches the official plans, no works have been carried out without permission, gathers all previous permits, checks the house is sellable and not illegal in any way. Carried out by a geometra, architect or engineer and costs vary considerably, a minimum of €761 including VAT/ Please note this report is NOT a structural survey, that is an optional additional report you may wish to instruct.
Local council tax – IMU (formerly ICI) – payable only by non residents. This needs to be paid twice a year at the post office – no bill is sent. Most people use a local accountant or property manager to calculate it.
Refuse tax (TARI)
In some areas, mountain community tax.
If you buy a property which is part of a condominium, e.g. with shared pool and grounds, lighting etc, then there will be annual condominium fees to pay which usually range from about €200 to €1000/year unless it is a particularly luxurious property with many amenities in which case costs could be higher.
Utilities
You don’t really need an Italian bank account for buying a property in Italy any more as money is usually sent by bank transfer, although some notaries insist the funds are sent from an Italian account set up by you.
You could of course open an account to handle bills but bear in mind that some utilities companies refuse to arrange direct debits for non resident accounts, and some bills cannot be paid by direct debit.
You could always pay your bills online or if you have a property manager then send them the funds for settling all the bills.
If you do intend opening an Italian bank account, bear in mind that Italian bank charges are high . Usually there is a monthly fee to pay, plus charges for receiving money, paying bills, sending statements, etc etc.
