Lake Como Real Estate Market Trends for 2023

In 2023, the Lake Como property market continues to thrive, attracting both local and international buyers.

For this year “on the way”, we do not foresee any real estate crisis or stalemate situations. Despite general increases in the banking sector, interest rates are still at attractive levels, especially when compared to rates found in some countries abroad.

The last quarter of 2022, showed a healthy awareness of a "new" general situation in the real estate market, all accepted without any particular remarks by clients, probably being all aware of the geo-political and financial situation worldwide as well.

In the first quarter of 2023, it seems we are facing a fairly stable situation in terms of rising interest rates, with banking institutions leaning toward variable-rate disbursement, and at worst having moderate interest rate rises.

We can underline a strong demand for "green" real estate, given the rising energy prices that have also touched our country.

Certainly Interesting, is the VAT discount for the purchase of energy-efficient properties, all provided for in the “Legge di Bilancio” Law.

To make a quick resume, it is possible to deduct from the gross Irpef tax, 50% of the VAT paid for the purchase , by December 31, 2023 of residential properties classified with energy class A or B, sold by construction companies.

The demand for properties in Lake Como remains strong, driven by its reputation as a luxurious and exclusive destination. The majority of buyers are high-net-worth individuals, seeking holiday homes or investment properties.

The average price of properties in Lake Como ranges from €500.000,- to € 3 million, depending on location and size. Despite the high prices, the market remains competitive, with properties quickly attracting multiple offers.

Different as always, the waterfront luxury segment, where the average price for a Villa ranges from € 5 MLN to € 40 MLN.

The towns of Menaggio and Tremezzina are particularly popular among buyers, known for their picturesque scenery and historical architecture. Properties in these areas are highly sought after and command higher prices.

The same situation for towns toward Como, including Laglio (well known for the famous American actor Clooney), Carate Urio, and Moltrasio.

Inflexible demand for Bellagio, a historic destination and part of the famous Larian triangle.

Increasingly on the rise, the real estate market in Valle Intelvi: breathtaking landscapes surrounded by greenery, fine culinary destinations and many trails to discover for those who love to totally immerse themselves in nature while remaining, conveniently, only 20 minutes from Lake Como.

Beautiful Valle Intelvi - Photo Credit to M. Moro

Lake Como continues to attract new luxury real estate developments, offering modern design and breathtaking views. These developments are often located in secluded areas, offering privacy and exclusivity.

The combination of those “new” energy technologies, mixed with local materials, clear structures and contemporary lines, all skillfully and respectfully integrated with the surrounding landscape, seems to be the perfect dream retreat for most of international buyers looking for their Italian dream home.

Rental market is also thriving, with high demand for luxury holiday rentals throughout the year. Properties in popular tourist areas command high rental rates, making them attractive investment opportunities for buyers.

Villa for sale | credit Lakeside Real Estate

Real estate is an ever-changing industry, and 2023 is no exception. Here are a few of the new trends expected to shape the real estate market in 2023 in Lake Como area:

Remote work: With many people continuing to work from home due to the COVID-19 pandemic, the demand for spacious, remote properties is on the rise. This trend is expected to persist in 2023, as remote work becomes a more permanent fixture in many industries.

Sustainability: As environmental concerns become increasingly important, more buyers are seeking properties that are environmentally friendly and energy efficient (as specified above). This includes homes with green roofs, solar panels, and other sustainable features.

Technology continues to play an important role in real estate, with new innovations making it easier for buyers and sellers to connect, view properties, and complete transactions. Virtual and augmented reality are becoming increasingly popular for property viewings, and digital tools for property management and transactions are becoming more widespread.

Micro-housing market: Small, compact homes are starting becoming more popular. Micro-homes offer a cost-effective and sustainable alternative to traditional, larger homes.

Second homes: The pandemic has increased demand for second homes, particularly in rural and remote areas. Many people are seeking properties that offer more space, privacy, and outdoor opportunities, as well as a sense of security and stability in uncertain times.

Real estate remains a popular investment option, with a growing number of buyers seeking properties that offer long-term returns and stability. This includes multi-family properties, as well as properties with a strong rental market.

These are just a few of the trends shaping the real estate market in 2023. By keeping an eye on these trends, buyers and sellers alike can make informed decisions and take advantage of new opportunities in the real estate industry around Lake Como.

It will certainly be interesting to see the development of all these new trends for this current year.

Lake Como is confirmed as a safe location for investment and security for both families and investors, also for 2023.

Sara Zanotta

Founder & Managing Director | Lakeside Real Estate

Lake Como Real Estate Trends | 2023