The housing stock in the area around Milan is mostly single-family homes, many of which were built in the past three or four decades, according to Ms. Giorgolo Spinola. “You can find some historic properties dating to the late-18th and early-19th centuries, but they usually need to be renovated to meet modern living standards with updated bathrooms, heating and kitchens,” she said. “This can be quite a pricey undertaking.”
A three-to-four-bedroom, 3,000-square-foot home in an upscale town like Varese that’s in move-in condition and has a small garden would be between $900,000 to $1 million, Ms. Giorgolo Spinola said. A larger property with more outdoor space and higher-end finishings would cost between $1.5 million and $2 million. Homes with sustainable features such as insulated walls, energy-efficient heating and cooling, and solar-powered energy are even more expensive. “These have increasingly become popular, and although you pay more upfront, you save in the long-term because the maintenance costs are lower,” Ms. Giorgolo Spinola said.
Milan’s environs see a large share of buyers from Switzerland, France, Germany and the United States, she said, adding that the proximity to both nature and the city is a primary draw.
Lake Como
Located less than 60 miles north of Milan, Lake Como has attracted elite and aristocratic visitors for several centuries, said Francesco Tesi, a luxury real estate and golf specialist at Lionard Luxury Real Estate. “This is, by far, the most prestigious and in-demand area to live in outside of Milan and one of the top in Italy,” he said. “George Clooney owning a villa here really put it on the home buyers’ map.”
Mountains surround Lake Como, and the area also features rich vegetation and charming villages, including Bellagio, perhaps the most well-known, as well as Cernobbio, Tremezzo and Menaggio.
The area has more than a half dozen golf courses, according to Mr. Tesi and Mr. Finardi. The Circolo Golf Villa D’Este is considered the most exclusive, not just in Lake Como but in all of Italy. Opened in 1926, it has hosted the Italian Open several times and has a renowned golf academy, as well as a restaurant near the 18th hole with mountain panoramas. “The golf is second to none. Serious golfers play here,” Mr. Finardi said.
Other courses in Lake Como include Golf Club Lecco, which has buildings that date back to the 1600s, and Menaggio & Cadenabbia Golf Club, which overlooks the lake.
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