Authored by the expert who managed and guided the team behind the Italy Property Pack
Yes, the analysis of Lake Como's property market is included in our pack
Lake Como remains one of Italy's most desirable property markets, attracting investors who want to combine lifestyle appeal with rental income potential.
In this article, we break down the current rental yields in Lake Como, covering everything from gross and net returns to neighborhood variations and the costs that eat into your profits.
We update this blog post regularly to reflect the latest market conditions and data.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Lake Como.
Insights
- Lake Como's average gross rental yield sits around 3.2% in 2026, which is notably lower than Italy's national average of roughly 5% due to the area's premium property prices.
- The gap between Lake Como's highest and lowest yielding neighborhoods can reach 2.5 percentage points, with towns like Colico outperforming prestigious spots like Bellagio.
- Smaller apartments between 40 and 70 square meters deliver the best yield per square meter in Lake Como, often 30% higher than larger family homes.
- Vacancy rates in Lake Como's tourist hotspots like Varenna and Menaggio typically stay below 4% during the May to September season, but can spike to 15% in winter months.
- Property management fees in Lake Como run between 15% and 25% of rental income when including short-term rental turnover services, significantly higher than Italy's urban averages.
- The new Tremezzina tunnel project, expected to complete by 2028, could boost rental demand in the lake's western shore towns by improving access from Milan.
- Net yields in Lake Como rarely exceed 2.5%, with property taxes (IMU), maintenance on older buildings, and seasonal vacancy consuming roughly 25% to 35% of gross income.
- Studios and one-bedroom units near ferry stops in Lake Como achieve occupancy rates above 75% annually, compared to just 55% for larger villas further from transport links.
What are the rental yields in Lake Como as of 2026?
What's the average gross rental yield in Lake Como as of 2026?
As of early 2026, the average gross rental yield in Lake Como sits at approximately 3.2%, reflecting the area's status as a premium destination where high property prices outpace rental income growth.
The realistic range of gross rental yields in Lake Como spans from about 2.0% to 4.5%, depending on the property's location, size, and whether it caters to short-term tourists or long-term tenants.
This average is noticeably lower than Italy's national gross rental yield, which typically hovers around 5% to 6%, because Lake Como's property values are inflated by international demand and lifestyle buyers who pay premiums for lakefront views.
The single most important factor influencing gross rental yields in Lake Como right now is the shift toward short-term vacation rentals, which can generate higher weekly rates but come with seasonal gaps that pull down the annual average.
What's the average net rental yield in Lake Como as of 2026?
As of early 2026, the average net rental yield in Lake Como is approximately 2.1%, once you account for all the costs that landlords must cover.
The typical difference between gross and net rental yields in Lake Como is around 1.0 to 1.3 percentage points, which means landlords lose roughly a third of their gross income to operating expenses.
The expense category that most significantly reduces gross yield to net yield in Lake Como is property management and turnover costs, especially for short-term rentals where cleaning, guest coordination, and platform fees quickly add up.
The realistic range of net rental yields for most standard investment properties in Lake Como falls between 1.4% and 2.8%, with the lower end typical of premium lakefront villas and the higher end achievable in more modest apartments with efficient operations.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Lake Como.
We made this infographic to show you how property prices in Italy compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What yield is considered "good" in Lake Como in 2026?
In Lake Como in 2026, a gross rental yield of 4.0% or higher is generally considered "good" by local investors, as it indicates the property is generating meaningful income relative to its purchase price.
The threshold that typically separates average-performing properties from high-performing ones in Lake Como is around 3.5% gross yield, with anything above 4.0% placing you in the top tier of the market where income genuinely offsets the premium you paid for the location.
How much do yields vary by neighborhood in Lake Como as of 2026?
As of early 2026, the spread in gross rental yields between the highest-yield and lowest-yield neighborhoods in Lake Como is approximately 2.0 to 2.5 percentage points, which is substantial for a relatively small geographic area.
The neighborhoods that typically deliver the highest rental yields in Lake Como are the less glamorous but practical towns like Colico, Dongo, and Gravedona at the northern end of the lake, where property prices are lower but steady renter demand exists from workers and budget-conscious tourists.
The neighborhoods that typically deliver the lowest rental yields in Lake Como are the prestigious central lakefront towns like Bellagio, Cernobbio, and Laglio, where ultra-high property prices driven by international celebrity buyers compress returns even when rents are strong.
The main reason yields vary so much across Lake Como neighborhoods is simply that property prices in prime spots are inflated by lifestyle demand and prestige, not just rental income potential, while rents cannot rise proportionally because tenants have limits on what they will pay for a vacation or a lease.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Lake Como.
How much do yields vary by property type in Lake Como as of 2026?
As of early 2026, the range of gross rental yields across different property types in Lake Como spans from roughly 2.0% for luxury lakefront villas to around 4.5% for compact apartments in accessible towns.
The property type that currently delivers the highest average gross rental yield in Lake Como is the small to mid-sized apartment, particularly two-room units near ferry stops or town centers, because they attract consistent tourist bookings without the prohibitive purchase prices of larger homes.
The property type that currently delivers the lowest average gross rental yield in Lake Como is the large historic villa, especially those requiring extensive maintenance, because their multi-million euro price tags cannot be recovered through rental income alone even at premium nightly rates.
The key reason yields differ between property types in Lake Como is that apartments offer a much lower entry price relative to their rental potential, while villas command prestige prices that far exceed what any tenant or guest is willing to pay.
By the way, you might want to read the following:
- What rental yields can you expect for an apartment in Lake Como?
- What rental yields can you expect for a villa in Lake Como?
What's the typical vacancy rate in Lake Como as of 2026?
As of early 2026, the estimated average residential vacancy rate in Lake Como is approximately 6% on an annualized basis, though this figure masks significant seasonal variation between summer peaks and winter lulls.
The realistic range of vacancy rates across different Lake Como neighborhoods spans from about 3% in high-demand tourist centers like Varenna and Menaggio to 12% or more in remote hillside locations with limited transport access.
The main factor that currently drives vacancy rates up or down in Lake Como is seasonality, because the area's rental demand is heavily concentrated between April and October when tourists flock to the lake, leaving many properties underutilized during winter months.
Lake Como's vacancy rate is roughly comparable to other Italian tourist destinations like the Amalfi Coast, but higher than major Italian cities like Milan where year-round demand keeps vacancy below 4%.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Lake Como.
What's the rent-to-price ratio in Lake Como as of 2026?
As of early 2026, the estimated average rent-to-price ratio in Lake Como (calculated as monthly rent divided by purchase price) is approximately 0.27%, which translates to the 3.2% annual gross yield mentioned earlier.
A rent-to-price ratio of 0.33% or higher is generally considered favorable for buy-to-let investors in Lake Como, and since this ratio is essentially the monthly expression of gross yield, hitting that threshold means you are on track for a 4% annual return before expenses.
Lake Como's rent-to-price ratio is lower than comparable Italian lake destinations like Lake Garda (around 0.35%) and significantly below Italian urban centers like Bologna or Turin (around 0.45%), reflecting the premium that buyers pay for Lake Como's international cachet and natural beauty.
We have made this infographic to give you a quick and clear snapshot of the property market in Italy. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods and micro-areas in Lake Como give the best yields as of 2026?
Where are the highest-yield areas in Lake Como as of 2026?
As of early 2026, the top three highest-yield neighborhoods in Lake Como are Colico, Dongo, and Domaso, all located in the northern portion of the lake where property prices remain accessible while rental demand stays stable.
The estimated average gross rental yield range in these top-performing areas like Colico and Dongo is between 4.0% and 4.5%, roughly a full percentage point above the Lake Como average.
The main characteristic these high-yield areas share is their combination of lower purchase prices, practical amenities for everyday living, and proximity to outdoor activities like hiking and windsurfing that attract a reliable flow of visitors year-round.
You'll find a much more detailed analysis of the areas with high profitability potential in our property pack covering the real estate market in Lake Como.
Where are the lowest-yield areas in Lake Como as of 2026?
As of early 2026, the top three lowest-yield neighborhoods in Lake Como are Bellagio, Cernobbio, and Laglio, where property prices have been pushed to extraordinary levels by celebrity interest and international prestige.
The estimated average gross rental yield range in these low-yield areas is between 2.0% and 2.5%, meaning landlords recover a very small fraction of their investment through rent each year.
The main reason yields are compressed in Bellagio, Cernobbio, and Laglio is that buyers in these towns are often purchasing for personal enjoyment or status rather than income, which drives prices far beyond what rental revenue alone can justify.
Buying a property in a low-yield area is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Lake Como.
Which areas have the lowest vacancy in Lake Como as of 2026?
As of early 2026, the top three neighborhoods with the lowest residential vacancy rates in Lake Como are Varenna, Menaggio, and Lenno, all of which benefit from excellent ferry connections and a concentrated tourist infrastructure.
The estimated vacancy rate range in these low-vacancy areas is between 3% and 5% annually, meaning properties spend very little time sitting empty between tenants or guests.
The main demand driver that keeps vacancy low in Varenna, Menaggio, and Lenno is their position as essential stops on the tourist circuit, with frequent ferry service making them accessible day-trip and overnight destinations throughout the high season.
The trade-off investors typically face when targeting these low-vacancy areas is that property prices are higher than average, which compresses gross yields even though occupancy is strong.
Which areas have the most renter demand in Lake Como right now?
The top three neighborhoods currently experiencing the strongest renter demand in Lake Como are Como town center, Lecco, and Varenna, which together capture the broadest mix of tourists, commuters, and seasonal residents.
The type of renter profile driving most of the demand in these areas is the short-stay tourist seeking a base for lake exploration, followed by young professionals who commute to Milan and want a more scenic living environment.
In these high-demand neighborhoods, rental listings typically get filled within one to three weeks for long-term rentals, while short-term vacation listings in peak season often book out two to three months in advance.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Lake Como.
Which upcoming projects could boost rents and rental yields in Lake Como as of 2026?
As of early 2026, the top three upcoming infrastructure or development projects expected to boost rents in Lake Como are the Tremezzina tunnel (improving access to the western shore), the Milan-Lugano rail corridor upgrades, and the ongoing Como waterfront regeneration plan.
The neighborhoods most likely to benefit from these projects are Tremezzo, Lenno, and Argegno on the western shore for the tunnel; Como town and Cernobbio for the waterfront improvements; and Lecco for the rail upgrades that will cut commute times to Milan.
Investors might realistically expect rent increases of 5% to 12% in the affected areas once these projects are completed, as improved accessibility typically translates directly into higher tenant willingness to pay and stronger booking demand.
You'll find our latest property market analysis about Lake Como here.
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What property type should I buy for renting in Lake Como as of 2026?
Between studios and larger units in Lake Como, which performs best in 2026?
As of early 2026, studios and small one-bedroom apartments perform better than larger units in terms of rental yield in Lake Como, though larger family-sized apartments often enjoy lower vacancy rates because they attract longer-staying guests.
The typical gross rental yield range for studios in Lake Como is 3.5% to 4.5% (generating roughly 300 to 500 euros per month per 100,000 euros invested, or $320 to $530 USD), while larger three-bedroom units tend to yield 2.5% to 3.5% due to their higher purchase prices.
The main factor that explains why smaller units outperform is simply that their lower entry cost relative to rental income creates a more favorable ratio, while larger properties command higher absolute rents but not proportionally higher relative to their price.
One scenario where a larger unit might actually be the better investment choice in Lake Como is when targeting families or groups who book for full weeks during peak summer season, as these guests pay premium rates and often return year after year, reducing marketing and turnover costs.
What property types are in most demand in Lake Como as of 2026?
As of early 2026, the most in-demand property type in Lake Como is the two-room apartment (one bedroom plus living area) with lake views or walkable access to a ferry stop, as it fits both tourist stays and young professional tenants.
The top three property types ranked by current tenant or buyer demand in Lake Como are: first, compact apartments near transport hubs; second, renovated historic townhouses in village centers; and third, modern villas with private outdoor space for families seeking longer stays.
The primary demographic trend driving this demand pattern in Lake Como is the rise of remote work, which has brought a wave of "slow travelers" and location-flexible professionals who want comfortable, well-connected bases for stays of one to three months rather than just weekend visits.
One property type that is currently underperforming in demand and likely to remain so in Lake Como is the unrenovated hillside house without lake access or views, as these properties require significant investment to attract tenants and struggle to compete with more accessible alternatives.
What unit size has the best yield per m² in Lake Como as of 2026?
As of early 2026, the unit size range that delivers the best gross rental yield per square meter in Lake Como is between 40 and 70 square meters, which corresponds to studios and compact one-bedroom apartments.
The typical gross rental yield per square meter for this optimal unit size in Lake Como is approximately 120 to 160 euros annually (around $130 to $170 USD, or 110 to 150 euros), which is roughly 25% to 35% higher than yields achieved by larger units on a per-square-meter basis.
The main reason smaller or larger units tend to have lower yield per square meter in Lake Como is that studios and one-beds command disproportionately high rents relative to their size because solo travelers and couples will pay nearly as much as families for a well-located base, while very small micro-studios lack the amenities to justify premium pricing.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Lake Como.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Italy versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What costs cut my net yield in Lake Como as of 2026?
What are typical property taxes and recurring local fees in Lake Como as of 2026?
As of early 2026, the estimated annual property tax (IMU) for a typical rental apartment in Lake Como ranges from approximately 800 to 2,500 euros (around $850 to $2,650 USD), depending on the property's cadastral value and whether it qualifies for any exemptions.
Other recurring local fees landlords must budget for annually in Lake Como include waste collection tax (TARI) of roughly 150 to 400 euros ($160 to $425 USD) and condominium fees that typically run 1,000 to 3,000 euros ($1,060 to $3,180 USD) per year for buildings with shared amenities.
These taxes and fees typically represent between 8% and 15% of gross rental income in Lake Como, with the percentage being higher for lower-rent properties where fixed costs take a larger bite.
By the way, we cover all the hidden fees and taxes in our property pack covering the real estate market in Lake Como.
What insurance, maintenance, and annual repair costs should landlords budget in Lake Como right now?
The estimated annual landlord insurance cost for a typical rental property in Lake Como ranges from 300 to 800 euros (around $320 to $850 USD), covering building liability, contents, and natural disaster protection relevant to the lakeside environment.
The recommended annual maintenance and repair budget in Lake Como is approximately 0.8% to 1.2% of property value, or roughly 8% to 12% of annual rental income, whichever calculation method you prefer.
The type of repair expense that most commonly catches landlords off guard in Lake Como is humidity and damp-related damage, as the lakeside climate accelerates wear on older buildings, requiring frequent attention to walls, windows, and heating systems.
The total combined annual cost landlords should realistically budget for insurance, maintenance, and repairs in Lake Como is between 2,000 and 6,000 euros ($2,120 to $6,360 USD), depending on the property's age, size, and condition.
Which utilities do landlords typically pay, and what do they cost in Lake Como right now?
In Lake Como, utilities are typically paid by tenants for long-term rentals, but landlords usually cover electricity, gas, water, and internet for short-term vacation rentals as part of an all-inclusive nightly rate.
The estimated monthly cost for landlord-paid utilities in a typical Lake Como rental unit is between 120 and 250 euros ($127 to $265 USD), with heating costs spiking during winter months if the property is occupied or being maintained for bookings.
What does full-service property management cost, including leasing, in Lake Como as of 2026?
As of early 2026, the estimated monthly property management fee for full-service management in Lake Como ranges from 15% to 25% of collected rent, with the higher end typical for short-term rental operations that require guest coordination, cleaning, and key handover.
The typical leasing or tenant-placement fee charged on top of ongoing management in Lake Como is equivalent to one month's rent for long-term placements, or built into the percentage fee for vacation rentals where turnover is continuous.
What's a realistic vacancy buffer in Lake Como as of 2026?
As of early 2026, landlords in Lake Como should set aside approximately 8% to 12% of annual rental income as a vacancy buffer, accounting for the seasonal nature of the market and typical turnover gaps.
The typical number of vacant weeks per year that landlords experience in Lake Como is between four and seven weeks, with most of this vacancy concentrated in the November to March low season when tourist demand drops sharply.
Buying real estate in Lake Como can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Lake Como, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Immobiliare.it | Italy's largest real estate portal with comprehensive listing data and price tracking across all regions. | We used it as the primary source for Lake Como property prices by neighborhood and property type. We cross-referenced asking prices with rental listings to calculate yield ratios. |
| Idealista | A major European property platform with detailed rental market data and investor-focused analytics for Italy. | We extracted long-term rental price benchmarks for Lake Como apartments and houses. We also used their market reports to understand demand trends and listing velocities. |
| Nomisma | Italy's leading independent real estate research institute providing quarterly market reports and forecasts. | We referenced their regional yield data to benchmark Lake Como against national averages. We used their methodology as a framework for our own calculations. |
| AirDNA | The global standard for short-term rental market analytics with granular occupancy and revenue data. | We used AirDNA to estimate vacancy rates and seasonal occupancy patterns in Lake Como. We also analyzed revenue per available night to inform yield estimates for vacation rentals. |
| Airbnb | The dominant short-term rental platform providing real-time pricing and demand signals for tourist markets. | We monitored Lake Como listings to understand nightly rates and booking patterns. We used this data to estimate short-term rental income potential across different neighborhoods. |
| Agenzia delle Entrate | Italy's tax authority providing official property tax rates, cadastral values, and regulatory guidance. | We sourced IMU tax calculation methods and rates from their official documentation. We used their cadastral database to understand how property taxes are assessed in Lake Como. |
| ISTAT | Italy's national statistics institute providing demographic, housing, and economic data at regional and local levels. | We used ISTAT housing census data to understand Lake Como's property stock composition. We also referenced their household statistics to contextualize renter demand trends. |
| Regione Lombardia | The regional government of Lombardy responsible for infrastructure planning and local development policy. | We tracked infrastructure announcements like the Tremezzina tunnel through their official communications. We used their planning documents to identify projects that could affect rental demand. |
| Ministero delle Infrastrutture | Italy's Ministry of Infrastructure providing national transport project timelines and funding announcements. | We referenced their publications for rail and road improvement schedules affecting Lake Como accessibility. We used project completion estimates to forecast rental demand impacts. |
| Navigazione Laghi | The official ferry service operator for Lake Como providing schedules and connectivity information. | We used ferry route maps to identify the most accessible towns for renters. We factored transport connectivity into our neighborhood yield analysis. |
| ARERA | Italy's energy regulator publishing official electricity and gas tariff structures for household consumers. | We sourced utility rate information to estimate landlord operating costs. We used their data to project seasonal heating expenses for Lake Como properties. |
| LuxuryEstate | A premium property portal specializing in high-end Italian real estate with detailed villa listings. | We analyzed premium Lake Como villa pricing to understand the top end of the market. We used this data to explain yield compression in prestige neighborhoods. |
| Informazione Fiscale | A trusted Italian tax information resource providing clear guidance on property-related tax obligations. | We referenced their IMU and rental income tax guides for accuracy. We used their examples to calculate realistic after-tax returns for Lake Como landlords. |
| Segugio.it | Italy's leading insurance comparison platform with real-time quotes from major providers. | We used their tools to estimate landlord insurance costs for Lake Como properties. We compared quotes across different coverage types to establish realistic ranges. |
| Selectra Italia | A utility comparison service providing average consumption data and tariff analysis for Italian households. | We referenced their consumption benchmarks to estimate monthly utility costs. We used their regional data to adjust for Lake Como's climate and heating needs. |
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