Buying a Home in Italy as a Foreigner: A Cuban Woman's Experience

A Cuban woman living in the Aosta Valley, northern Italy, shared on TikTok how her partner managed to purchase a home in the country despite having resided there for less than three years and not being an Italian citizen.

Known on social media as @ely_china, she posted several videos between late December and January detailing the steps they took and the conditions the bank assessed to approve the loan.

In a video dated December 28, she emphasized that "buying a house in Italy as a foreigner, whether Cuban or from any other country," is achievable if certain criteria are met. She revealed that her partner secured the loan before completing three years of residency and that they pay "350 euros" monthly for their home, a small studio in a tourist area.

The Importance of a Stable Job Contract

She explained that "in Italy, having a permanent job contract is essential, extremely important," noting that while it doesn't guarantee job security indefinitely, it makes job termination less likely or at least not as easy.

Additionally, she mentioned that Italian law provides benefits for young individuals purchasing their first home. "If you're under 36 and it's your first house, you can request 100 percent of the loan," she explained, though she clarified that notary and transfer fees must be paid separately.

The bank required them to provide bank statements to ensure their income could cover the monthly loan payment, which they referred to as "rata." In their case, they requested "100 percent of the loan," and the bank took about 15 days to respond.

Challenges and Criticism

For those without a permanent contract, she advised having "at least one guarantor," someone who would assume responsibility for the debt if the primary borrower defaults.

In a follow-up video on December 29, she addressed criticisms about their purchase. She quoted comments questioning whether they should rent it out due to its size and investment potential. She clarified that the property was intended as an investment, not a permanent residence: "The house wasn't bought for us to live in; it's clearly an investment. We have plans for it, especially given that we live in a very touristy area."

In a recent video, she further explained why the bank approved the loan. She stated that her partner, although not an Italian citizen, held a long-term residence permit, qualifying him as a "creditworthy subject."

Insights for Other Migrants

"If you've been in Italy for three years and can demonstrate stable income, the bank views the repayment risk as low, regardless of your nationality," she noted. She also highlighted that banks in the Aosta Valley "are well-acquainted with the real estate market here," which aids in granting loans, given the area's tourist appeal.

Ely emphasized that "having a permanent job contract is more crucial than citizenship itself."

Her series of videos sparked extensive discussions among viewers, especially Cubans living in Italy. Some expressed gratitude for the information and shared their banking experiences, while others questioned the ease of the process.

Comments ranged from noting that the loan approval was "because they live in the Aosta Valley, a special autonomous region," to others acknowledging the difficulty of acquiring a home and praising their determination.

In response to those who downplayed their achievement, she humorously remarked, "An accomplishment is having it in Cuba."

Her account, focusing on her partner's journey and the nuances of the Italian system, has piqued the interest of other migrants seeking guidance on acquiring housing in Italy.