In order to promote the building industry, the Italian state has launched various programmes with which refurbishments and renovations of real estate are substantially promoted. In case of a considerable improvement of the energy class, the costs are even reimbursed in full (110 %), but there are also considerable subsidies for renovation of the facade (90 %) and for other renovation works (50 %, 60 %).
When the newsletter went to press, it was very likely, but not yet entirely certain, that the subsidy would also be extended until 2023 by assigning the right of claim to the building contractor. This assignment has also made it possible for foreign investors to claim the subsidies. The alternative to assignment is otherwise a tax credit, which only helps those who also pay taxes in Italy. In the case of the probable extensions, however, stronger controls are to be expected, since the assignment to developers had also led to abuse.