Through thick and thin, economic woes and times of greater prosperity,
property prices on Lake Como have remained very stable. For sure the
2008 global crisis saw cranes on building sites halt for a few months, but
prices did not waver and a sense of normality returned after just 6
months. Now we seem set for prices to resume their steady upward
climb.
Lake Como remains a highly prized destination internationally and the
mix of grand villas, newly constructed homes and apartments offers
something desirable for most budgets. While prices rose steadily each
year, at a modest pace, until 2008 they then remained level until last
year with few forced sellers and those not seeking silly prices content to
sit and await the right buyer.
The buying nationalities have expanded significantly over the past
decade. From the British, Irish and American enthusiasm which has
always been there, first the Russians then people based in the Middle
East and now an increasing number of confident Asian buyers have
soaked up most of the over-supply to the point where we see evidence
this year of a fine balance between supply and demand. With the
opportunity for new building limited by both the topography and the
tight zoning regulations, we can only see an upward trend resuming for
property on Lake Como.
Interestingly in their quest for value many of our clients now choose to
buy a property requiring internal upgrading or more significant
structural renovation works. They opt not to have a property which
enables them to arrive with their suitcases tomorrow, and have
confidence that our past successes in finding the right solution to deliver
value-adding modernisation on time and within a controlled budget
provides the home on Lake Como that they desire.
Enthusiasm for spending time on Lake Como is undimmed. It has been
there since Roman times when Pliny the Younger established a summer
home on the lake, and the modern-day popularity of Lake Como is set to
continue.