The Northern-Italian Lakes: International buyers dominate the property market

Demand for residential property on Lago Maggiore and Lago di Como remains as high as ever. Premium properties here continue to attract international customers. German buyers dominate the market in both locations, although the number of domestic buyers has risen in recent years.

Lago di Como: Top prices for exclusive properties

Lago di Como is famous around the world as the summer destination of George Clooney. In 2018 the property market here was dominated by overseas buyers. Germans were the largest buyer group, followed by Swiss, Northern European and American clients. Prices here have risen by around 20 percent over the last few years. The most desirable location on Lago di Como is the western shore between Cernobbio and Menaggio.

In Como, houses achieved purchase prices of up to 20 million euros. High value freehold apartments generated top prices of up to 8,000 euros per square metre. “Lago di Como is a highly sought-after Italian destination and has enjoyed a very positive development in recent years. In 2019 we expect to see further purchases in top locations especially from overseas buyers, and a rise in prices,” says Yasemin Rosenmaier, Managing Partner of Engel & Völkers Lago di Como.

Lago Maggiore: New locations are being developed

Demand for property on Lago Maggiore has also remained high. International buyers make up around 75 percent of potential customers. The majority of the demand comes from Germany, Great Britain and Switzerland. In the exclusive location of Stresa, villas with direct access to the lake reached top prices of up to 8 million euros. An increase in property prices in 2018 was in particular due to a growing appreciation of this destination both within Italy and abroad.

“We have registered a growing interest of national and international buyers for different locations around Lago Maggiore, both in 2018 and in the first months of 2019. This is due to the wonderful properties and the competitive prices compared to the other lakes in northern Italy,” says Alessandro Lotito, Office Manager and Licence Partner of Engel & Völkers Lago Maggiore.

Outlook: Overseas trend continues

In the next few years Engel & Völkers expects to see a further positive development of the property market on both Lago di Como and Lago Maggiore. The interest of Italian and overseas buyers is as high as ever.