Resicom – Holiday Investment – 04-21 – LB

Investing in Italy’s Lake Como Area

The Italian lakes have long been a dream destination for overseas property investors, and Lake Como has often seemed beyond reach of the normal budget.

Famous for its food, wine, sheer beauty, charm and fascinating history and heritage, the lakes region of Italy attracts many of the rich and famous for whom budget is not really a concern.

However, although homes around Italy’s famous Lake Como are associated with the high life, interpreted as expensive and centred on luxury, there are areas where affordable properties can be found, especially by those who’ve always enjoyed the challenge of interior DIY.

According to real estate agencies in the region, there are properties to suit the average expat budget, and prices are usually far more negotiable than many overseas property investors realise.

It’s hard to imagine bargaining for a discount of as much as 30 per cent back in the UK, but it’s normal in Italian real estate deals, and usually dependent on the financial situation of the owner.

One thing potential buyers need to realise is that purchasing a property in the Lake Como region brings a responsibility to protect its history and heritage as it’s the soul of the home. If this concept appeals, then this region is for you.

Another plus point of purchasing in the Lake Como region is that its investment potential is higher than almost any other Italian location, with current figures at between six and seven per cent annually. At the present time, it’s fairly straightforward to get a mortgage, with 60 per cent of the actual house valuation for 15 years as the usual requirement.

Along with a strong tourist trade bringing potential for letting out property all year round, it seems that the Lake Como region ld make a lot of sense for British overseas property investors.

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