Authored by the expert who managed and guided the team behind the Italy Property Pack
Yes, the analysis of Lombardy's property market is included in our pack
Why is Lombardy emerging as a prime destination for property investment in 2025? Is it the region's rich cultural heritage, the thriving local economy, or the competitive property prices compared to other European markets? What are the key advantages for investors?
We get asked these questions all the time because we’re on the ground, working closely with developers, real estate agents, and investors like you. With so much interest in this market, we’ve decided to turn our individual answers into a comprehensive article for everyone to benefit from.
Our goal is to provide a clear case for investing in Lombardy's real estate market, backed by our firsthand experience and market knowledge.
If you think we missed an important point in our content or want to know more, don’t hesitate to reach out (we answer super fast). Your feedback makes our content even stronger.
Finally, please note that this is not financial or investment advice. Investing in real estate carries inherent risks, and market conditions can change unexpectedly. We strongly encourage you to conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
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1) Lombardy’s closeness to the Alps is perfect for winter sports fans and property investors
Lombardy's closeness to the Alps makes it a hot spot for winter sports lovers and savvy investors.
In 2024, property prices in Lombardy's alpine areas jumped, with average prices hitting €2,505 per square meter. This is a 7.42% increase from the previous year, showing a growing interest in the region. It's a sign that more people are eyeing this area for real estate investments.
The buzz around vacation homes near ski resorts is real, thanks to the rising popularity of winter sports. Last winter, 4 million people in Italy hit the slopes, creating a strong demand for properties near ski facilities. Alpine skiing is the top choice, making these areas even more appealing for property buyers.
Looking ahead, the 2026 Winter Olympics in Milan are already making waves. The anticipation has led to major infrastructure upgrades in Lombardy's alpine zones. These improvements are set to boost the region's accessibility and charm, giving investors and winter sports fans more reasons to consider Lombardy for real estate.
For those in the know, Lombardy offers a unique blend of natural beauty and investment potential. The region's proximity to the Alps not only provides stunning views but also promises exciting opportunities for winter sports enthusiasts.
With the ongoing developments and the upcoming Olympics, Lombardy is shaping up to be a prime spot for those looking to invest in property. The combination of rising property values and enhanced infrastructure makes it a compelling choice.
Sources: Immobiliare.it, Businesscoot, James Edition
2) Lombardy’s strong economy in fashion and finance attracts residents with a stable job market
Lombardy's economy is booming, thanks to its strong fashion and finance industries.
In 2023, the region's GDP growth rate of 1.2% outpaced the national average, fueled by investments in energy efficiency and digital tech. This has led to a vibrant job market, with over 100,000 new jobs created, dropping unemployment to a low 4%.
Big names in fashion and finance, like Lombard Odier, highlight the region's economic power. This stability has not only secured jobs but also drawn new residents, boosting population growth. Milan's property market is hot, with rental prices at €21.28 per month per square meter, showing a strong rental scene.
Lombardy's economic impact is felt nationwide, playing a key role in Italy's GDP growth, projected at 1% in 2024 and 1.1% in 2025. This thriving economy, along with infrastructure investments, ensures a stable job market and attracts both locals and international businesses.
For those eyeing property in the region, the combination of a strong economy and job market makes Lombardy an attractive option. The ongoing demand for housing, especially in Milan, reflects the area's appeal.
Sources: Invest in Lombardy, Il Sole 24 Ore, Immobiliare.it, Istat
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.
3) Lombardy’s vibrant startup scene offers great opportunities for young professionals and entrepreneurs
Lombardy is a hotspot for startups, especially in Milan, where innovation is thriving.
Young professionals are drawn to Milan because it's packed with dynamic companies that are always on the lookout for fresh talent. The city's vibrant startup scene offers a wealth of opportunities for those eager to dive into forward-thinking industries.
In the first half of 2024, venture capital investments in Lombardy hit 870 million euros, a testament to the region's growing appeal. This surge in funding, particularly in ICT and biotechnology, is a game-changer for entrepreneurs looking to bring their ideas to life.
The government is also stepping up, creating technology clusters and strategies that foster research and innovation. These initiatives are crucial in building a nurturing environment where startups can flourish.
For those considering a move to Lombardy, the region's commitment to innovation and its bustling startup ecosystem make it an attractive destination. Opportunities abound for young professionals and entrepreneurs eager to make their mark.
With a supportive infrastructure and a wealth of resources, Lombardy is a prime location for startups to grow and succeed.
Sources: Intesa Sanpaolo Innovation Center, Confindustria Lombardia, Yes Milano
4) Lombardy’s historic buildings and charming villages offer unique opportunities for renovation and restoration investments
Lombardy's historical architecture and charming villages offer unique renovation and restoration investment opportunities.
In recent years, property values in Lombardy's historical areas have surged, making it a hot spot for investors. In 2023, nearly half of the revenue from Italy's top 200 architecture and design firms came from Lombardy, highlighting the region's strong market interest. This means there's a potential for profitable investments in historical properties here.
The Lombardy Region is also backing this trend with a Cultural Program running from 2023 to 2025. They've set aside 126 million euros to conserve cultural heritage, offering incentives for property restoration. This makes it financially appealing for investors to dive into renovation projects while keeping the region's rich history alive.
There's a growing trend in luxury real estate focusing on historical properties, driven by a desire for unique and authentic living spaces. This blend of history and modern luxury is boosting the value of renovated properties, making Lombardy even more attractive for investment.
Imagine owning a piece of history in a picturesque village, where every stone tells a story. The charm of Lombardy's villages, with their cobblestone streets and ancient buildings, offers a distinctive lifestyle that can't be found elsewhere. This allure is drawing in buyers who want more than just a home; they want an experience.
Investing in Lombardy isn't just about financial gain; it's about preserving a legacy. The region's commitment to cultural heritage ensures that your investment contributes to maintaining the beauty and history of these unique properties. It's a chance to be part of something bigger, where your investment helps sustain the cultural fabric of the area.
Sources: Statista, Invest in Lombardy
5) Lombardy’s diverse and cosmopolitan vibe attracts expats looking for a lively environment
Lombardy's diverse population and cosmopolitan atmosphere make it a magnet for expatriates seeking a vibrant environment.
In 2024, 1.2 million foreigners called Lombardy home, making up about 11.9% of its total population. This growing diversity shows how appealing Lombardy is, as people from all over the world settle here, adding to the region's rich cultural tapestry.
The presence of multinational companies in Lombardy offers a wealth of job opportunities, attracting professionals seeking career growth. With a gross regional product of over €366 billion in 2021, the region's strong economic performance provides a stable and prosperous environment for expatriates. This economic strength is complemented by the high quality of life in cities like Milan, which consistently rank well in quality of life indices due to excellent infrastructure and cultural amenities.
Lombardy's cultural scene is another major draw for expatriates. The region hosts a variety of international events and conferences, such as the Milano & Lombardy initiative at MIPIM 2024, which highlights urban development and investment opportunities. Additionally, the availability of diverse cultural and recreational activities, from historical-artistic cities to world-famous museums, ensures that expatriates have plenty of opportunities to engage with local culture and enjoy a dynamic lifestyle.
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6) Lombardy’s diverse landscape, from lakes to mountains, gives you varied real estate options for any lifestyle
Lombardy's landscape is a mix of lakes and mountains, offering diverse real estate options for every lifestyle.
In Lombardy, property prices vary widely due to its geography. Milan, for instance, is on the pricier side, while places like Mantua are more budget-friendly. This variety lets you pick a spot that suits both your wallet and your way of life.
Lake Como is a hot spot for vacation homes, attracting both locals and international buyers. The area is popular because of its stunning scenery and high rental yields, making it perfect for those who love nature and culture.
Recent infrastructure upgrades have made Lombardy's scenic areas more accessible, boosting their appeal. This has led to a thriving short-term rental market, as tourists are eager to soak in the region's authentic charm.
With its mix of natural beauty and cultural richness, Lombardy is a top choice for real estate investments. The region's diverse landscape, from lakes to mountains, offers varied real estate opportunities for different lifestyle preferences.
Sources: Italy Travel and Life, Cleanbnb, Immobiliare.it
7) Lombardy’s famous wine and food scene makes it a desirable place to own property
Lombardy's wine and culinary reputation makes it a hot spot for lifestyle seekers, boosting property demand.
Imagine a place where food and wine are not just meals but experiences. One in three Italian tourists has visited a region for its culinary delights, and Lombardy is a top pick. This trend, highlighted by Roberta Garibaldi, shows how food tourism is a big draw here.
Lombardy is a culinary powerhouse with 61 Michelin-starred restaurants in 2024, including three with the coveted three stars. This culinary acclaim not only attracts food lovers but also potential property buyers who want to be part of this vibrant scene.
People rave about Lombardy's food, and it's not just the locals. Tourists are equally impressed, and this buzz is amplified by media coverage, making the region even more appealing. Social media is buzzing with posts about Lombardy's food and wine, drawing in more visitors and potential residents.
Food and wine festivals in Lombardy are not just fun; they are economic powerhouses. These events bring in significant revenue and boost property demand. Lombardy's wine labels are gaining international fame, adding to its allure as a lifestyle destination.
Expatriates and retirees are flocking to Italy for its lifestyle, and Lombardy is high on their list. The region's culinary excellence and quality of life make it a top choice. Property prices are rising as more people seek homes in this gastronomic paradise.
Sources: First Online, Roberta Garibaldi, Wine News
8) With events like Milan Fashion Week, Lombardy attracts global attention, enhancing short-term rental opportunities
Milan Fashion Week is a magnet for international visitors, giving a big boost to Lombardy's short-term rental market.
In February 2024, the event saw over 100,000 attendees, which is a 10% jump from the previous season. This crowd isn't just window shopping; they're spending big, with around 70.4 million euros flowing into the local economy during the event. That's a hefty 22.6% more than what was spent back in 2019.
With so many people flocking to the city, short-term rentals see a spike in occupancy rates. This isn't just about filling rooms; it's about meeting the demand of visitors who need a place to stay. Naturally, this demand pushes up the average daily rates, making the rental market even more lucrative.
Local businesses, especially in hospitality and tourism, feel the positive ripple effects. Media reports often highlight how the economic impact of Milan Fashion Week is substantial. For example, during the women's fashion week in September 2023, about 80 million euros were spent in Milan, underscoring the event's importance to the region's economy.
For those considering buying property in the area, this influx of visitors and spending is a key factor. The region's festivals and events, like Milan Fashion Week, draw international attention and boost short-term rental markets. This means potential for higher rental income and property value appreciation.
Investing in property here isn't just about owning a piece of Italy; it's about tapping into a vibrant market that's energized by world-class events. The buzz around these events can make a significant difference in rental yields and property demand.
Sources: The Milan City Journal, First Online
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.
9) Lombardy’s top-notch healthcare and hospitals make it ideal for retirees and families
Lombardy's healthcare system is a major draw for retirees and families thanks to its stellar reputation and high standards.
In the past, 14 of Italy's top 50 hospitals were located in Lombardy, highlighting the region's excellence in healthcare. This area is part of Italy's healthcare system, which the World Health Organization once ranked as the most efficient globally. Renowned hospitals like San Raffaele and Niguarda in Milan are famous for their cutting-edge medical research and treatment facilities.
These hospitals are recognized for their excellence in various medical specialties, making them a significant draw for those seeking quality healthcare. The TELEMACO Project revealed that more than 95% of patients were satisfied with the services, indicating high patient satisfaction rates in Lombardy's healthcare facilities.
Ongoing investments in healthcare infrastructure further enhance Lombardy's appeal. For instance, a 24 million Euro tender was launched to finance research projects aimed at improving patient care and medical knowledge. Moreover, approximately €4 billion from the NRRP was allocated for constructing new healthcare facilities and modernizing existing ones.
These investments ensure that the region's healthcare infrastructure remains top-notch. With such a robust system, Lombardy is an attractive location for those prioritizing healthcare when considering a move.
Families and retirees can feel confident in the quality of care available, knowing that Lombardy's hospitals are among the best in Italy. The region's commitment to healthcare excellence makes it a prime choice for those looking to settle in a place with reliable medical services.
Sources: Health Lombardy, AJMC, Agenzia Nova, F2i SGR, Health Lombardy
10) Lombardy’s top-notch transport links, like high-speed trains and airports, boost property accessibility and value
Lombardy's transportation network is a game-changer for property value and accessibility.
With high-speed trains zipping from Milan to major Italian and European cities, getting around is a breeze. This convenience makes properties in Lombardy more appealing, especially for those who value quick and efficient travel.
The airports in Milan, Malpensa and Linate, are bustling with activity. In 2023, they saw 35.3 million passengers, a 22% jump from the previous year. This surge in air travel connectivity makes Lombardy an even more attractive place to live and invest in property.
Lombardy is pouring over 1.2 billion euros into transportation upgrades. This includes buying new trains and sprucing up urban areas, which is expected to boost property values by making the region more accessible and efficient.
Improved transport links have a direct impact on property prices. High-speed trains bring people right into city centers, increasing land values and making these areas more desirable. Buyers are particularly drawn to properties with excellent transport connections, as shown by rising prices in these well-linked areas.
Sources: Milan Airports, Invest in Lombardy, Regione Lombardia, High-Speed Rail Alliance
11) Lombardy’s international companies and consulates drive demand for luxury homes
Lombardy's international companies and consulates are driving up demand for luxury homes.
In Lombardy, you'll find a mix of global company headquarters, especially in aerospace and biotech, which attracts a diverse crowd of expatriates and foreign professionals. They are drawn to the region's upscale lifestyle and stunning landscapes, particularly around the Italian Lake District. This influx of international residents is a key factor in the rising demand for high-end residential properties.
In Milan, the demand for luxury apartments and villas is booming. Milan is Italy's priciest city for homebuyers, with an average price of €4,989 per square meter. Despite these high costs, the appetite for property remains strong. In fact, property prices in upscale neighborhoods jumped by 5.5% in early 2024, showing just how hot the market is.
Foreign direct investment is pouring into Lombardy, thanks to its robust economy and attractive cities. This investment, along with international schools and amenities for expatriates, bolsters the demand for top-notch housing. Real estate market reports show a 30% increase in buyer interest by Q3 2024, especially in Lombardy, highlighting the region's appeal.
For those considering a move, Lombardy offers a unique blend of business opportunities and lifestyle perks. The presence of international companies and consulates not only boosts the local economy but also creates a vibrant community of global citizens. This dynamic environment makes Lombardy a prime location for high-end residential investments.
Sources: Italian Embassy in Washington, Esales International, JamesEdition
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12) Lombardy’s digital infrastructure investment attracts tech-savvy professionals who work remotely
Lombardy's digital infrastructure is a magnet for tech-savvy professionals.
Thanks to high-speed internet, remote work is a breeze here. Milan, for instance, boasts internet speeds up to 2 Gbps, covering almost the entire city. This makes it a prime spot for anyone needing reliable connectivity.
The local government isn't just sitting back; they're actively fostering innovation. They've financially backed nine technology clusters to boost sectors like digital systems and smart cities. This proactive approach makes the region a hotbed for tech companies and professionals seeking a dynamic community.
Milan's coworking scene is thriving, with places like Impact Hub Milano and Campus Co-Working Milano offering flexible workspaces. These spots come with top-notch Wi-Fi and amenities, perfect for remote workers. It's no wonder digital nomads and tech startups are flocking here.
All this infrastructure doesn't just support the current workforce; it also attracts new talent. The region is becoming a remote work-friendly destination, drawing in a diverse crowd of professionals.
With such a strong digital backbone, Lombardy is not just keeping up with the times; it's setting the pace. The region's investment in digital infrastructure supports remote work, attracting tech-savvy professionals to the area.
Sources: Confindustria Lombardia, BroadbandNow, Surf Office
13) Lombardy’s prestigious universities draw students and academics, boosting rental demand
Lombardy's prestigious universities, like the University of Milan, draw a large number of students and academics.
In Milan alone, there are over 211,000 students, creating a bustling demand for housing. International students have increased by 13% since 2020-2021, and they make up a significant portion of the student body, especially in Milan, where they account for more than 80% of the international student population in Lombardy.
This surge in international students means rental properties are in high demand. The University of Milan area, in particular, sees a lot of interest, pushing rental prices up. It's not just students; academic staff and researchers are also looking for places to live nearby.
Living near these universities is becoming more desirable, and rental prices are climbing as a result. The influx of academics and researchers adds to this trend, as they too need housing close to their work.
For anyone considering buying property in the area, it's worth noting that the rental market is thriving due to this constant demand. The presence of these universities ensures a steady stream of potential tenants.
Investing in property around these educational hubs could be a smart move, given the consistent need for rental accommodations driven by both students and academic professionals.
Sources: Statista, Agenzia Nova, Musa Scarl
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.