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
Where are the best places to invest in Lombardy right now? Is Milan still the top pick, or are cities like Bergamo, Brescia, and Como gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with notaries, real estate agents, and clients who invest across the region. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in Lombardy and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
1) Bergamo's Città Alta is gaining attention for its historic charm and rising property values driven by tourist interest
Bergamo's Città Alta is seeing a surge in property values due to its historic charm and increasing tourist interest.
One of the key reasons for this trend is the growing number of property transactions in the area. This uptick reflects a rising interest in Città Alta, with more people eager to invest in this picturesque part of the city. Real estate agencies are buzzing with activity, as potential buyers are drawn to the unique blend of history and modernity that Città Alta offers.
The tourism boom is another major factor. In 2023, Bergamo saw over 4.5 million tourists in just the first half of the year, with nearly 14,000 visitors daily. These tourists are captivated by the cultural and historical allure of Città Alta, making it a hot spot for both visitors and property investors. The vibrant atmosphere and rich history make it an irresistible destination.
Media coverage has also played a part in boosting the area's appeal. Stories highlighting Bergamo's historic charm and cultural significance have caught the attention of potential buyers. This increased visibility has made Città Alta even more desirable, as people from all over the world are discovering its unique offerings.
Recent infrastructure improvements, like those at Milan Bergamo Airport, have made the area more accessible. These developments have not only attracted more tourists but have also boosted property values by making Città Alta a more convenient destination. The ease of travel has opened the doors to a wider audience, eager to explore and invest.
With its cobblestone streets, stunning architecture, and vibrant local culture, Città Alta is a place where history meets modern living. The combination of increased tourism, media attention, and improved accessibility has created a perfect storm for property value growth. It's no wonder that more people are looking to call this charming area home.
Sources: Granfondo BGY, Travel and Tour World, First Online
Here is a stunning view of Bergamo's Città Alta, where historic charm and modern investment opportunities are coming together to shape a thriving real estate market. (Source: Europosters.fr)
2) Como's lakeside properties are thriving with stunning views and a strong short-term rental market
Como's lakeside properties are in high demand because of their stunning views and strong short-term rental market.
In 2023, the average price for prime properties in popular villages like Bellagio and Menaggio was around €12,000 per square meter. Prices surged by nearly 20% that year, and this trend continued into 2024. Lakefront properties now command a premium of 40-50% over non-waterfront homes.
The short-term rental market in Como is thriving, with properties being booked for an average of 245 nights a year between 2023 and 2024. This translates to a median occupancy rate of 67% and an annual revenue of approximately €35,000, making these properties attractive investments.
Tourism is a major driver of demand. In 2023, the province of Como recorded 4.6 million overnight stays, with foreign visitors accounting for 85% of these numbers. This surge in tourism supports the high demand for lakeside properties, as visitors seek accommodations with stunning views.
Investors are particularly drawn to the area because of the consistent rental income potential. The combination of natural beauty and a booming rental market makes Como a hotspot for property buyers.
With the picturesque landscape and a bustling tourist scene, owning a property here is not just about the view; it's about tapping into a lucrative market.
Sources: Eva Besselmann, Airbtics, Como Companion, Como Lakeside Blog
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) Monza’s San Biagio is gaining interest for its high rental yields and closeness to Milan
San Biagio in Monza is a hot spot for investors, and here's why.
First off, the rental yields are impressive. In 2023 and 2024, the average rental price in San Biagio was €13.77 per square meter per month, making it one of the highest in Monza. This means higher rental income compared to areas like Sant'Albino, where the average is €11.17. If you're looking for a profitable rental market, San Biagio is a standout choice.
Then there's the location. Monza is just a 30-minute commute from Milan, which is a big plus for professionals. They get to enjoy a quieter lifestyle while still having easy access to the city. This proximity has led to a high demand for rentals in San Biagio, as people want the best of both worlds: a peaceful home and a short trip to work.
Property prices are also climbing. In 2023, the average property price in San Biagio was €3,707 per square meter, among the highest in Monza. This trend shows the area is becoming more desirable, signaling long-term growth potential for investors. Compared to neighborhoods like San Rocco, where prices are lower, San Biagio offers a promising investment opportunity.
Insider tip: San Biagio's charm isn't just about numbers. The neighborhood offers a blend of modern amenities and historical charm, making it attractive to both young professionals and families. This unique mix adds to its appeal and potential for future appreciation.
Investors are also drawn to the area's community vibe. San Biagio has a strong sense of community, with local events and markets that bring people together. This community spirit enhances the living experience, making it a sought-after location for renters and buyers alike.
Sources: Immobiliare.it, Housenix
4) Sondrio's city center is a hotspot with its growing economy and affordable housing options
Sondrio's city center is turning heads in the real estate world thanks to its booming economy and budget-friendly housing.
In 2024, buying property in Sondrio cost around €1,400 per square meter, which is an 8.02% jump from the previous year. Even with this increase, Sondrio's prices are still a steal compared to the provincial average of €1,732 per square meter, making it a sweet spot for those looking for affordable homes.
The local economy is buzzing with new businesses popping up, which is a big draw for both residents and investors. This economic buzz is not just about numbers; it's about a better quality of life. The local government is pouring money into infrastructure and public services, making Sondrio a more attractive place to settle down and invest.
People are catching on, and the population in Sondrio is on the rise. This demographic shift means more folks are looking to buy or rent homes, which naturally pushes property prices up. The word is out, and media outlets are spotlighting Sondrio as a hot new real estate market, pulling in even more interest from potential buyers and investors.
For those in the know, Sondrio offers a unique blend of economic growth and affordable living, a combination that's hard to find elsewhere. The city's transformation is not just about numbers; it's about creating a vibrant community where people want to live and invest.
As more people discover what Sondrio has to offer, the demand for housing is expected to keep climbing, making it a smart choice for anyone looking to buy property in the area.
Sources: Immobiliare.it, Idee Immobili
5) Brescia’s Centro Storico is gaining interest for its cultural revival and more affordable prices than Milan
Brescia's Centro Storico is turning heads in the real estate market thanks to its cultural renaissance and more affordable prices compared to Milan.
In 2024, the average price for residential properties in Brescia hit €2,169 per square meter, showing a 7.48% jump from the previous year. This uptick highlights a growing interest in the area, as more people are drawn to its charm and potential.
When you compare it to Milan, Brescia's property prices are a steal. The median price of apartments in Brescia is significantly lower than in Milan, making it a smart choice for those looking to invest without breaking the bank. This affordability is a major draw for buyers eyeing Brescia's Centro Storico.
The buzz around Brescia isn't just about prices; it's also about culture. The city is alive with cultural events and initiatives that celebrate its rich heritage, making it a vibrant and appealing place to call home. This cultural vibe, paired with the area's affordability, is catching the eye of potential buyers and investors alike.
Locals and newcomers are finding Brescia's Centro Storico to be a hidden gem, offering a unique blend of history and modern living. The ongoing cultural renaissance is not just a backdrop but a key player in the area's growing popularity.
As Brescia continues to evolve, its Centro Storico stands out as a prime spot for real estate, offering both a rich cultural experience and a financially savvy investment opportunity.
Sources: Immobiliare.it, Properstar, Visit Sirmione
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6) Lecco is gaining interest for its scenic waterfront properties and outdoor lifestyle appeal
Lecco's waterfront properties are on the rise, and it's easy to see why.
In 2024, the average price for residential properties in Lecco jumped by 6.98% from December 2023, hitting €2,267 per square meter. This uptick shows a clear demand for homes in this picturesque area. Nestled in Lombardy, Lecco is not just about numbers; it's about the lifestyle. The region saw a 25% increase in visitors in 2023 compared to pre-COVID times, drawing people to its stunning landscapes and outdoor adventures.
Lecco's charm lies in its scenic beauty and the outdoor lifestyle it offers. Imagine waking up to breathtaking views and having nature as your playground. This is what makes Lecco's waterfront properties so appealing. The global trend of waterfront living is all about well-being and balance, and Lecco fits this mold perfectly.
People are increasingly looking for homes that offer more than just a place to live. They want a lifestyle, and Lecco delivers. The combination of rising property prices, booming tourism, and the global shift towards outdoor living is driving the appreciation of these properties. It's not just about owning a home; it's about embracing a way of life that prioritizes health and happiness.
Lecco's waterfront properties are more than just real estate; they're a gateway to a lifestyle that many are seeking. The demand is fueled by the area's natural beauty and the promise of a balanced, fulfilling life. As more people discover what Lecco has to offer, the value of these properties continues to climb.
Sources: Immobiliare.it, Como Companion, 11Prop
7) Lodi's San Fereolo area is attracting investors with new developments and major transport link proximity
San Fereolo in Lodi is quickly becoming a prime spot for investors due to its strategic location and ongoing developments.
The area is gearing up to host a significant share of the 3,909 new residential units planned for Lodi by 2031. This shows a strong push for new housing, which is a major magnet for investors.
One of the biggest attractions is San Fereolo's proximity to major highways and public transport. Good transport links often lead to higher property demand and values, a trend seen across Lombardy as infrastructure improvements boost property prices.
Italy's infrastructure market is on the rise, with a forecasted growth of USD 24 billion from 2024 to 2029. This boom is expected to benefit areas like San Fereolo, enhancing roads, public transport, and essential services.
These developments make San Fereolo even more appealing to investors seeking high rental yields and potential property value appreciation.
Sources: GlobeNewswire, Plan Lodi
Here is a scenic view of San Fereolo, a growing hotspot in Lodi where new developments and improved infrastructure are drawing investors' attention. (Source: Fondo Ambiente Italiano)
8) Cremona's historic center is appealing to buyers with its unique architecture and lower prices than larger cities
Cremona's historic center is catching the eye of property buyers for its affordability and charm.
Imagine owning a piece of history without breaking the bank. In Cremona, property prices are much lower than in bustling Milan. For example, in November 2024, the average price per square meter was just €1,451, a stark contrast to Milan's hefty €997,400. This makes Cremona a smart choice for those looking to invest in a home with character.
Strolling through Cremona's historic streets, you'll find unique architectural styles that are hard to resist. Areas like Centro, Dante, and Piazza Castello are particularly popular, with property transactions on the rise. The highest average sale price here is €1,630 per square meter, reflecting a growing interest in the city's distinctive charm.
But it's not just about the buildings. Cremona's rich cultural and historical appeal is often highlighted in the media, adding to its allure. This attention, coupled with a lower cost of living compared to larger cities, makes Cremona an attractive option for those seeking a vibrant yet affordable lifestyle.
Living in Cremona means enjoying a blend of history, culture, and community. The city's reputation as a desirable place to live is growing, thanks to its unique offerings and media coverage that frequently highlights its appeal. It's a place where you can enjoy the best of both worlds: affordability and a rich cultural experience.
For those considering a move, Cremona offers a compelling mix of benefits. With its lower property prices and unique architectural styles, it's no wonder more people are choosing to call this charming city home.
Sources: Immobiliare.it, My Dolce Casa, 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) Mantua’s San Giorgio neighborhood is gaining attention for its cultural heritage and strong investment potential
Mantua's San Giorgio neighborhood is catching eyes for its cultural heritage and investment potential.
Property prices in Mantua are on the rise, thanks to the city's cultural significance and historical landmarks like Palazzo Te and Palazzo Ducale. This upward trend hints that San Giorgio might also see a boost in property values.
Since Mantua became a UNESCO World Heritage site in 2008, international buyers have shown increased interest, drawn by its rich cultural offerings. The local government is actively preserving and promoting these sites, making the neighborhood even more attractive.
Old industrial sites are being transformed into cultural hubs, like the ex Corradini factory turning into a University Center. This shift highlights the area's potential for cultural and recreational development.
Tourism in Mantua is on the upswing, fueled by Italy's booming tourism sector. This increase in visitors can boost property demand and investment in San Giorgio.
Sources: Rome Business School, Iris Unina, Wikipedia, Encyclopedia Britannica
10) Vigevano's historic district is gaining interest for its charming properties and potential for value growth
Vigevano's historic district is turning heads for its charming properties and potential for property value growth.
With property prices rising in Italy, especially in cities like Venice and Bologna, there's a broader market trend that could benefit Vigevano. Bologna, for instance, is set to see a 3% increase in property prices by 2025, thanks to its cultural appeal. This suggests that Vigevano might be on a similar path.
Vigevano's close proximity to Milan, a major economic and cultural hub, is a big plus. In other Italian cities, being near major centers like Milan has driven up property demand, and Vigevano could see the same effect.
Tourism is booming in Italy, especially in culturally rich cities like Venice, which could mean good news for Vigevano. While specific tourism numbers for Vigevano aren't available, its cultural and historical charm could attract both tourists and investors.
Investors are eyeing Vigevano not just for its charm but also for its potential for property value growth. The historic district offers a unique blend of culture and opportunity, making it a hot spot for those looking to invest in Italian real estate.
As more people discover Vigevano's appeal, the demand for properties in its historic district is likely to rise, potentially leading to increased property values. This makes it an exciting time for potential buyers and investors.
Sources: Global Property Guide, CEIC Data
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.