Easy to reach, timelessly elegant, and famous the world over, the Italian lakes remain one of the most popular destinations for property buyers in Italy.
A mix of dramatic mountain scenery, mirror-like water and mild microclimates, the Lombardy region of northwest Italy has long attracted artists, poets and Hollywood celebrities since the age of Elizabeth Taylor and Greta Garbo. Owners on Lake Como today include Richard Branson and George Clooney, and its most famous hotel, the Villa d’Este, welcomed the likes of Keira Knightley and Margaret Qualley this spring at the Chanel fashion show.
A Stylish Investment with Lasting Appeal
The Belle Epoque villas around the lake, alongside newer, stylish properties and small developments, are a magnet for property buyers, keen to enjoy the tranquil boating, chic villages and the nearby mountains. With many properties, it’s possible to keep your own boat, or at least enjoy getting around on one you hire, or via the public ferries.
Lake Como is within easy access of Milan and its three airports, making it ideal for weekenders. But it’s also more affordable than many people realise. Some of those grand villas are divided into apartments, offering a waterfront home at a slice of the cost of a stand-alone home. Look just a couple of streets back from the lakeside and prices fall further, particularly outside the hotspot villages.
Prices on the lake are all about proximity to the water, amount of sun (buy on the right side) and ease of access to the motorway to Milan. On Lake Como this often means the lower western shore - the left-hand side of the upside-down Y shape – where Laglio, Moltrasio and Menaggio are located. Menaggio is part of the ‘Golden Triangle’ with Bellagio and Varenna. It’s a tourist favourite, so ideal if you’re interested in holiday lets, but less so if you’re hoping to escape the crowds.
What You Can Get for Your Budget
There really is a lot for sale if you have a budget of €120-150k and want a traditional style second-hand home. You can find small homes from around €110,000 – from an apartment to a small stone village house.
You can find a two-bedroom house in Menaggio for around €130,000 or a four-bedroom house there for €155,000.
If you have a budget of nearer €190,000 you can push to a lock-and-go apartment in a small complex with a shared swimming pool.
When buying on the lakes, check the location (lakeside road noise? good access?) – do you get the sun in the afternoon? Orientation is crucial for some. Also look at the running costs and taxes if your property is on a complex or a second home (taxes are different on second homes). How seasonal is the local village? Do restaurants stay open all year?
Looking Beyond Lake Como
Buying in Italy can provide tax benefits if you become resident, although this area of northern Italy does not offer €1 houses or incentives for buying in an under-populated village – it’s way too popular.
You can also look to the other nearby lakes. Maggiore is elegant and in many ways like Lake Como but a bit less international - it’s got a fabulous island with many seafood restaurants worth a visit.
Meanwhile Lake Garda is much larger and with a very different and more open feel – and especially known for its water sports. It’s also easy to reach from Verona or Venice airports.
Lake Maggiore was featured on A Place in the Sun TV show recently – but whether you're browsing online or planning a summer visit, the lakes are well worth exploring.
