If you’re looking for your dream property in Italy, Lake Maggiore could well be the perfect destination to choose. Properties around Lake Maggiore vary tremendously in price, depending upon the location in which you decide to buy, and this popular tourist destination offers a number of benefits to overseas buyers.
About Lake Maggiore
It is the second biggest lake in Italy, Lake Garda has the largest area. It stretches between two regions of Italy, namely Lombardy and Piedmont, but also extends into Switzerland. The lake meanders from the soaring beauties of the Alps down to the hills and plains of the Lombardy region and the overall climate of the region is mild, with cooling mountain breezes in summer making conditions very pleasant and comfortable.
Some of the most famous towns and villages situated on the Lake include Verbania, Stresa, Arona, Cannobio, Meina, Sesto Calende, Ispra and Luino. There are some beautiful islands situated in the lake, including Isola Bella and Isola di San Giovanni belonging to the group of the so called Borromean Islands. Frequent ferry services and boat crossings make it easy to travel across the lake and visit its fascinating towns and villages. Some of the Swiss villages situated on the lake provide a far quieter, more rural ambiance and offer great bargains at local produce markets, combined with peaceful roads and tracks for cycling or hiking.
There are two main airports close to Lake Maggiore, the nearest being Milan Malpensa, just 20 km far, which is served by a number of budget airline companies. The Malpensa Express train which operates frequent departures to Milan offers a passenger link to the Lake Maggiore area and it’s also possible to reach the lake via local bus services. Also consider the airport of Linate that is 80 km away.
Property Buying Tips
You’ll see a vast price differential as you look at properties close to Lake Maggiore. There’s a property to suit every budget with prices ranging from €1,000 per square meter to €5,000 per square meter, depending on location, property size and kind of property. Some properties in popular locations that overlook the lake will be priced much higher than this, for example an elegant villa home in Stresa or Verbania will command a much larger sale price.
Stresa is a popular and graceful resort town, which has been a favourite holiday retreat for many Europeans since the opening of the Simplon Tunnel. The popularity of the town does mean prices for properties in Stresa are higher than in surrounding areas. You can expect a home in good condition to range in price from €3,300 per square meter to €5,600 per square meter. You will probably pay around €170,000 for a renovated apartment with approximately 50 square meters of internal accommodation and a great view of the lake.
Arona is quite popular with overseas buyers and tourists, and is situated in West Lombardy, fairly close to Malpensa International Airport. Prices here are around €200 lower per square meter when compared to prices in Stresa.
If you plan to rent out your Italian home, buying in locations like Stresa or Arona is a good investment. For example, in Stresa you can rent out an apartment for between €750 and €1,300 per month.
If you’re looking for a budget home in a quieter town or village you could consider places like Luino or Sesto Calende where prices are cheaper. For instance you would pay about €170,000 for a house offering 95 square meters of space (= €1,780/m²) which is situated just a few meters from the lakeside beach. While rustic village properties and apartments in locations like Verbania and Bavenia can be picked up for around €90,000.
[Featured image by Goldmund100]