Real estate transformation in Lombardy’s mountainous regions
The real estate landscape in the mountainous regions of Lombardy is experiencing significant changes. Recent data shows an overall increase of 7.3% in property values, attracting the attention of both potential buyers and investors. However, the market dynamics are intricate,
with some areas seeing substantial price hikes while others, particularly those linked to the upcoming Olympic Games, are exhibiting more stable trends.
Market trends and regional disparities
An analysis of the Lombardy mountain property market highlights notable regional disparities. Livigno has become a prominent location, with property prices experiencing an increase nearing 40%. This growth is significant, especially considering that Livigno often goes unreported in mainstream real estate
discussions due to the absence of local agencies. Consequently, demand for properties in this area has driven prices above €10,000 per square meter.
Clusone and Castione della Presolana
In Clusone, a scenic town in the province of Bergamo, property prices have increased by 6.7%. The market attracts buyers from across Lombardy, with typical two- and three-bedroom apartments selling for between €70,000 and €110,000. Most existing properties were
built between the 1970s and 1990s, valued for their architectural charm and quality of life.
In the nearby area of Castione della Presolana, average property prices range from €900 to €1,200 per square meter. Certain districts, such as Bratto and Dorga, can reach prices as high as €1,400. These locations are particularly attractive due to their breathtaking natural landscapes and various tourist attractions.
Demand and investment opportunities
The towns of Ponte di Legno and Temù have experienced notable price increases, recording rises of 10.8% and 13.6%, respectively. This surge is primarily driven by expectations surrounding new thermal facilities that have intensified local demand. However, property owners are reluctant to sell, resulting in limited inventory. In these regions, the average price for a well-maintained two-bedroom apartment stands at approximately €260,000 to €270,000.
Rental markets and seasonal investments
Investors targeting rental opportunities are focusing on properties in Ponte di Legno, where seasonal rentals can command up to €5,500 during the winter months. In contrast, Temù presents a more affordable option, with two-bedroom apartments listed at approximately €200,000 to €210,000.
In Tirano, property prices have seen a modest increase of over 8%, largely due to limited supply. Many homeowners are opting for short-term rentals instead of selling their properties, spurred by a consistent influx of tourists drawn to the famous Bernina Express train. Prices in this area vary, ranging from €1,000 to €2,500 per square meter, depending on the home’s condition and age.
The stagnation of Bormio
The real estate market in Bormio is experiencing stagnation as potential buyers are adopting a wait-and-see approach ahead of the Olympic Games. Families are keen to secure second homes in this region, while demand for rentals from seasonal workers continues to rise. Prices for older properties in Bormio average between €4,000 and €5,000 per square meter, with new constructions reaching up to €8,000 per square meter.
In Santa Caterina di Valfurva, ongoing renovations are revitalizing the town center, with property prices around €4,000 per square meter. In the broader Valfurva region, prices remain more accessible, ranging from €2,000 to €3,000 per square meter. Other areas, such as Morbegno and Val Masino, have also seen notable price increases, attributed to investments in new facilities.
Mountain property market in Lombardy shows growth potential
The mountain property market in Lombardy is a dynamic and rapidly evolving sector. Certain regions are emerging as attractive destinations for investment. While some areas remain cautious due to the upcoming Olympic event, compelling opportunities exist in lesser-known locales where demand significantly outstrips supply.