As Italy strives to recover from the Covid crisis, there is good news for potential first-time homebuyers in the under-36 age-group. The Italian government has just announced a proposal to reduce stamp duty for young people wishing to purchase their first home in the near future. The proposal aims to encourage young would-be buyers to take their first step on the property ladder and, if approved, will offer a welcome opportunity to reduce the normally high costs involved in buying property, ones that often discourage this particular age group. The opportunity will be limited to those under 36 with an income of less than €40,000 p.a. who conclude the purchase before 30th June 2022. The usual exclusions apply: the properties must not fall into the “luxury” classes A1, A8 and A9. Please get in touch if this opportunity could be of interest to you.