Foreigners love italian lakes: luxury real estate market grows

Lake Como - Gravedona
Lake Como – Gravedona

There is a growing interest in luxury real estate on the edge of the lake: in recent years, this segment of the real estate market is alive, thanks in particular to foreign capital investments. Among the most popular places for foreign tourists are Lake Como and Lake Maggiore.

According to data provided by Engel & Völkers, 70% of people buying a property on Lake Como are international buyers: firstly Germans, but also Europeans from the North, the Middle East and Americans. A dynamic that, according to surveys, will continue at a good pace also in 2019: in the first quarter of this year, the number of applications has actually increased by 20% compared to 2018.

Prices have risen by about 20% in the last ten years, and even during the economic crisis, they have not undergone major changes. Among the most demanded areas are Cernobbio and Menaggio, where, in 2018, the prices of properties located in exclusive places are between 3 and 7 million euros; the cost of the apartments remained between 4,000 and 5,500 euros per square meter.

Lago Maggiore - Isola Pescatori
Lago Maggiore – Isola Pescatori

Luxury real estate market on the shores of Lake Maggiore

The performance of the luxury real estate market on the shores of Lake Maggiore has also been good, despite lower investments. However, the interest of foreign buyers remains strong, with a presence of 75% of the total. The most exclusive site is Stresa, with prices per square meter between 2,800 and 3,300 euros. In the Lake Maggiore region, domestic buyers represent 25% of the market, compared to 75% for international buyers. Among the international buyers, the main countries of origin are: Germany (35%), Switzerland (25%) and the United Kingdom (15%).

Lake Garda property market

Over the past two years, the Lake Garda property market has enjoyed a good recovery. The demand for real estate has increased and those who ask for information are seriously interested in buying. Investors are mainly Germans and Austrians who also buy land because they want to invest heavily in Italy in green building projects.

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