24/06/2026
Lake Como: Prices Soar for Luxury Apartments and Villas
An article by Paola Dezza, Il Sole 24 Ore, 23/06/26
Lake Como is undergoing a quiet transformation. No longer just a holiday destination, it's increasingly becoming a place where international buyers choose to actually live for part of the year, or more. And the price trends prove it.
Who's buying
Americans have long led the charge, joined by buyers from Northern Europe, the UK, Germany, Switzerland, and more recently the Middle East. A growing share are entrepreneurs and tech founders who, after major capital gains, are seeking exclusive places to settle and manage their wealth. As Tania Morabito from La Reale Domus - Knight Frank puts it, Lake Como keeps attracting a high-profile international clientele, many of whom now treat it as a true part-time residence rather than a holiday rental.
What the numbers say
Data from Scenari Immobiliari (June 2026, via Il Sole 24 Ore) shows just how wide the price range has become across the lake's most desirable spots:
- Tremezzina — from €3,600/m², with peaks above €6,400/m²
- Menaggio — up to €10,500/m²
- Bellagio — up to €10,300/m²
- Cernobbio — between €4,400 and €7,450/m²
- Como (city) — peaks of €11,000/m²
That gap between minimum and maximum tells its own story: in towns like Menaggio, ordinary properties sit alongside historic villas with direct lake access and exclusive views: two very different markets, one address.
Why prices keep climbing
Scarcity is the real driver. Historic villas remain the most coveted asset precisely because they're rare and hold their value over time. At the same time, demand is growing for contemporary penthouses many born from the renovation of historic buildings or new high-efficiency construction. The most active price bracket sits between €5 and €10 million, with a second, equally lively segment around €2 million, fueled by both foreign and domestic buyers.
The question no one's fully answering
Morabito raises a real concern: if more and more property becomes second homes or short-term investments, could the lake's resident population gradually shrink? It's a legitimate risk — though she prefers to frame it not as market saturation, but as a shift toward a more selective, higher-quality phase of growth. Still, the broader worry lingers: could Lake Como's most desirable towns risk becoming a kind of "Disneyland" for high-spending visitors, losing the traditions and character that made them special in the first place? A fear, the article suggests, that isn't entirely unfounded.
La Reale Domus | Knight Frank
Via Crespi 14
Como
Lake Como
www.larealedomus.com
