Areas to invest in Lombardy

Lombardy offers a wealth of attractions for tourists. The region’s history, culture, stunning landscapes, and delicious Italian cuisine make it an attractive destination.

One of Lombardy’s main draws is its lively capital, Milan. Visitors can explore iconic landmarks such as the magnificent Duomo di Milano and the historic Galleria Vittorio Emanuele II, and see Leonardo da Vinci’s masterpiece, The Last Supper.

Lombardy is also home to the famous Italian lakes, Lake Como, Lake Garda, and Lake Maggiore, which offer breathtaking scenery, water sports, boat cruises, and leisurely strolls through charming lakeside towns.
Lombardy’s countryside is full of traditional villages, vineyards, and historic castles, providing a view into authentic Italian life and offering opportunities for wine tasting, culinary experiences, and outdoor activities such as hiking and cycling.

Lombardy offers several different provinces to choose from, where you can invest in a luxury villa, town house or apartment.

Here are some benefits of living in some popular regions in Lombardy:

• Bergamo – a historic city that is cheaper than Milan and near to scenic areas such as the Orobie Alps and Lake Iseo.
• Brescia – a scenic location with access to beautiful lakes such as Lake Garda and Lake Iseo.
• Como – home to the famous Lake Como, surrounded by mountains and offering many outdoor activities.
• Cremona – the city of violins, this small city has a strong musical heritage.
• Lecco – a picturesque location on the shores of Lake Como with an abundance of outdoor activities such as hiking, sailing, and windsurfing.
• Mantua (Mantova) – full of Italian architecture including Renaissance palaces, churches, and museums.
• Milan – a vibrant cultural scene with museums, theatres and art galleries.
• Monza and Brianza – where the Italian Grand Prix takes place and offering green spaces and parks, including the famous Monza Park and Villa Reale.
• Pavia – a prestigious university town with a strong academic and cultural heritage.
• Sondrio – a scenic location in the Valtellina Valley, surrounded by mountains and vineyards offering outdoor activities such as skiing, walking and mountain biking.
• Varese – another location in beautiful natural surroundings that is close to Switzerland and the Italian Lakes.

The table below shows the current property prices in Lombardy, both to buy and rent.

Source: www.immobiliare.it

Property prices have been steadily increasing in Lombardy since 2020 with an increase of 6.63% in February 2024 over the same month in 2023. This makes it a good time to buy in Lombardy before prices increase further.

Rental prices are also increasing dramatically, rising from just under €11 per square metre in 2016 to €17.61 per square metre in February 2024. This makes renting out a property a good option if you’re looking for an immediate return on your investment.

Lombardy is also a popular place for tourists, both for the beautiful countryside and to ski, meaning an investment property could generate a good income as a holiday rental.

The overall cost of living in Italy is cheaper than in the UK, with Italy being 7.7% cheaper. Eating out in Italy is 14.2% cheaper than in the UK, making it an attractive holiday destination.

In the UK a bottle of wine will cost you nearly €9 (£ equivalent) while in Italy it will be about €6. The same applies to a cup of cappuccino where you’ll pay about €1.50 in Italy and €3.60 in the UK, and somehow an authentic Italian cup of coffee always tastes better in Italy.

From the snowy mountains on the edge of the Alps to warm sunny days near the Italian lakes and inland, Lombardy experiences a variation in climates. The weather in spring and summer is pleasant, and doesn´t reach the high, unbearable temperatures of the Mediterranean coast.

Lombardy is a paradise for food lovers, with its culinary traditions and local specialties. Creamy risottos and savoury polentas, delicious cheeses and delectable desserts… the region’s gastronomy delights the senses and reflects its diverse cultural influences.

Milan is home to two of Italy’s most successful football clubs, AC Milan and Inter Milan. The region also hosts prestigious sporting events such as the Italian Grand Prix at the Monza Circuit and the Milan-San Remo cycling race. This offers further opportunities for short-term tourist rentals.

The Lombardy region is an excellent place to invest if you’re looking for a property that will increase in value. Whether you want to rent out your home in the short term and live in it in the future or rent it out long-term there will always be an influx of tourists to this region.

Investing in a property in Italy can be daunting if you don’t speak the language or understand the system. At iad Overseas we’re here to offer our extensive knowledge of buying property in Lombardy and will be delighted to support you.