Houses for sale Lombardy Italy: an opportunity to share the vibe, style and traditions of Northern Italy
Encompassing 10 UNESCO World Heritage Sites, 10 million+ inhabitants, and Italy’s most extensive metropolitan area, Milan, Lombardy is a region at once renowned and, at times, undervalued compared to other areas of Italy. Geographically, it comprises three distinctive areas: a mountainous one, dominated by the Alps and pre-Alps, a central one made of rolling foothills and graced with lovely lakes, and the bountiful Po river plain.
Milan, Italy, and real estate in Lombardy
While Milan, a fashion hub and the temple of design, and the picturesque Lake district, particularly Lake Como, are celebrated worldwide, the rest of the region is still little known outside of Italy. For this reason, it may be sometimes overlooked by investors looking for real estate opportunities.
Yet, prospective buyers should keep in mind that Lombardy is Italy’s fourth-largest region, and, above all, it yields over one-fifth of the national GDP. Hence, investing in houses for sale in Lombardy, and estates, can definitely be an interesting venture.
Thriving cities and gorgeous lakes of Lombardy
Thousands of financiers and entrepreneurs visit Lombardy consistently throughout the year, and Lake Como is arguably the most desired vacation spot in northern Italy. In fact, Milan apartment rentals are as popular as Lake Garda and Lake Como villa rentals, and even houses to rent in Lombardy, estates, for instance, are very wanted. Milan, the capital, and Lombardy’s other major cities all boast distinctive traits, signature industries, products and/or peculiar attractiveness that make them unique.
Travel and Leisure: 3 out of 7 best places to buy in Italy are in Lombardy
A round of applause for Lombardy comes from journalist Dobrina Zhekova on the latest Travel and Leisure issue, who points out that Italian real estate assets are not only less expensive than their equivalents in France or Spain, but more cost-effective because of reduced transaction expenses and tax incentives. In Zhekova list of Italy’s top 7 destinations for real estate purchase, 3 are in Lombardy: Lake Maggiore, Milan and Lake Como.
The tourist factor: Lombardy’s countless, timeless, lakeside beauties
Lake Como, Lake Garda, and Lake Maggiore, Lombardy’s most acclaimed lakes, are among the world’s most sought-after destinations, and many travelers, the hundreds who yearly seek Lake Como villa rentals for instance, daydream about finding a charming Lake Como villa for sale. Bellagio, Cernobbio, Varenna on Lake Como, and Stresa, Verbania and Arona on Maggiore, provide natural marvels, Michelin-star cuisine, culture, beautiful parks and historic villas. And the child-friendly beaches, sports scene, and lively vibe of Lake Garda offer postcard-perfect Italian allure that is bound to be fashionable forever.
Will Lake Como villas for sale be a rewarding investment venture in 2023-2024?
It certainly appears so. Among all houses for sale in Lombardy, estates on the lakefront, especially that of Lake Como, are doubtless the most coveted. Indeed, comments Lone Heron, international sales manager at Property at Lake Como Luxury Portfolio International, interviewed by Travel and Leisure “the demand for prime properties in the area now exceeds supply.” The area’s doubtless beauty makes it a perfect spot to spend your holidays, and should you wish to travel elsewhere the market for Lake Como villa rentals shows signs of increasing rather than abating.
Booming demand for Lake Como villa rentals
A study conducted by the Emma Villas Observatory, a leading Italian short-term and villa rentals portal, and reported by the local journal B Territori shows a promising scenario for those investors who have chosen to purchase property on Lake Como to rent it out to vacationers. In May 2022, the demand for short-term rental properties in Lombardy increased by 128% compared to the same period three years ago. The most popular destinations? Lake Garda, Lake Como, and the Brianza region, which is very close to Milan. The study also highlights how this rise in interest comes mainly from foreigners, over 90% of the total, particularly Dutch, German, Danish, and Swiss nationals.
Other tourist attractions in Lombardy: marvelous parks, snow-related fun and wineries
Aside from the Lake district, Lombardy offers a plethora of other sights to see and enjoyable, or adventurous, things to do. Sports and wellness fans alike are lured by Bormio, with its thermal waters and Alpine skiing facilities. The National Stelvio Park, with mountains that reach up to 3,900 meters (12,800 ft) provides hikers, bikers and wildlife fans with superb trails and adventures, as does the Parco delle Orobie Bergamasche. Wine lovers, on the other hand, know Lombardy for its sparkles: Franciacorta, birthplace of premium Italian “bubbly” called Franciacorta DOCG, is a luxuriant vine-clad region dotted with world-class wineries.
Other tourist attractions in Lombardy: Milan’s countless marvels
Milan seems to have it all. The world’s most famous work of art, Leonardo Da Vinci’s spectacular Last Supper, and most famous theater, the magnificent 250-year-old Teatro Alla Scala. And then again the incredible Prada Foundation, an eclectic complex housing contemporary and modern art, the Pinacoteca di Brera, with its ancient and modern masterpieces, the stunning Museo del Novecento, and a quantity, and variety, of restaurants, boutiques, designer shops that rivals the major cities worldwide. No wonder, Milan apartment rentals are always in demand!
Why relocating to Lombardy could be your best bet
Hard-working, creative, and dynamic. That’s what Lombardy’s towns, cities, and inhabitants are all about. Consequently, it comes as no surprise that life in Lombardy is at once pleasant and practical, enhanced as it is by both efficient services and local character alike. Deciding to relocate to Lombardy can prove to be a smart decision, and, needless to say, the first city that comes to mind is Milan.
Century 21 reveals that Milan apartment homes are among the most desirable properties for sale worldwide
Tourism aside, Milan’s glamorous contemporary lifestyle appears to be luring couples, families, and business people who are looking to relocate. A study conducted by PwC, and reported by Century 21 Milano Finanza’s global real estate specialists network, showcases an enlightening and ever-increasing trend of the current real estate market. All buyers, from entrepreneurs to families, appear to have become more conscious of life-focused variables such as job opportunities, mobility and accessibility. This makes real estate in Milan, Italy, a city with excellent schools, a vibrant business scene, sustainable urbane development policies, and an incredible entertainment offer, very attractive.
Milan real estate market: the metropolitan area scenario
But how much do Milan apartment homes actually cost? Immobiliare.it, Italy’s leading real estate portal, provides great insight into the Milan real estate market. As of March 2022, the average price for residential properties in the city of Milan was €4.997 per square meter, showing an increase of 4.39% compared to March 2021, when it stood at €4.787.
Milan real estate: prices outside the metropolitan area
The above-quoted price is the highest registered for houses for sale in Milan over the last two years and shows a significant contrast with the prices of real estate in the Milan province, but outside the metropolitan area: the average, as of March 2022, for a home in the province, was €3.368 per square meter, with the lowest price recorded in the Turbigo municipality, where one could buy for €1,000 per square meter.
Other leading cities of Lombardy
But Lombardy’s other main cities offer features that make them by no means less appealing. Prospective investors will want to consider Como, a charming historic city and capital of silk production, Mantua, surrounded by lovely lakes and endowed with a centuries-old cultural and musical heritage, or Brescia, beautifully positioned in the Alpine foothills. Bergamo , with its UNESCO town center and hearty local cuisine, and pretty, but scarcely known, Lodi in the Po Valley are also charming and rich in attractions.
Amazing yearly events in Milan
Innumerable Italians and foreigners are drawn to Milan every year to take part, see, buy or do business at one of the many events and trade fairs. Among these, the Salone del Mobile, i.e. Furniture Fair, an exhibition that displays the most recent, and finest, examples of interior design and furniture, and Milan Fashion Week, a bi-annual clothing and accessory showcase. Both attract countless visitors, and the parties, cocktail functions, and get-togethers connected with the shows are nothing short of incredible.
The Next Generation EU program and houses for sale in Lombardy
Looking at Milan, Italy, for their real estate investment, or thinking about buying a house in Lombardy, one often stops to think about whether there are plans for the development and/or enhancement of the area in question. Indeed, virtually all of Lombardy’s provinces are bound to receive significant benefits thanks to the funds provided by the Next Generation EU program. Figures help get the facts straight, so here they are, as reported by the local paper Brescia Today: 2.14 billion euros to be invested in "green revolution and ecological transition" 1.19 billion for healthcare, 969 million for "inclusion and cohesion", 460 million for "education and research", 140 million "digitalization, innovation, competitiveness", and 67+ million for "infrastructures for sustainable mobility" (67.4 million).
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