We have just bought an old building and

Well, if you prefer to take out a second mortgage to pay the bills, then your decision. Electricity can be and is very expensive in Italy.There are a number of special rates for "Eco" friendly systems, for which yours would not be included, so think very carefully about it before you decide. 

I totally agree with Badger. What you intend to do in Italy will cost you a fortune in electricity bills. You must investigate all possibilities, and there are a few, before choosing which will be the most convenient for you. And do not think for a minute that Italians do not know anything about underfloor heating. In Ancient Rome, patrician homes already had it. They used to build special rooms or spaces underneath the room (s) they intended to heat and have fires permanently set and attended to, ensuring that they would run smoothly. Obviously, nowadays you would need a cohort of slaves and servants to keep your underfloor heating system running...

Thanks guys for the update. The main thing I was trying to avoid was a large boiler. No, I do not have lots of slaves to feed a hypocaust system, so I think we may have to go with the local option . 

Wise decision! You know the old saying: "While in Rome, do as Romans do" (contemporanean ones, of course)" 

If you want more information I would suggest you click the search button left hand side and put in "heating". There is so much heating information on here that it should be almost impossible to not get the info you want. If you still have queries I'm also sure there are experts here that will know the answer.