Lake Como Property

Set within an idyllic situation, with a backdrop of snow capped mountains and in verdant, wooded landscapes dotted with historic villas, Lake Como property is the perfect opportunity to buy into the very heart of Italian romance, passion and history.

Lake Como property provides a haven of tranquillity in the Lombardy area of northern Italy, combining outstanding natural beauty, towns packed with history and culture, and a wealth of attractions and activities. The area has long been a popular destination among the wealthy and aristocratic; from the Romans until the present day, with famous celebrities such as George Clooney and Madonna said to have owned Lake Como property.

The Lake

The lake itself is a ‘Y’ shape, fed by the Adda River, and surrounded by pre-Alpine mountains. It is one of Europe’s deepest lakes, and this causes the vast body of water to act as a heat source, raising the surrounding temperature, and resulting in a sunny, Mediterranean climate where sub-tropical plants grow year round by the majestic shoreline.

Lake Como Property

Lake Como property can be found in any one of the towns and villages that nestle on the banks of this stunning lake. The town of Como itself is situated at the head of the lake, and its 400 year history is literally written on the magnificent architecture of the town, with awe-inspiring churches and historic villas lining the streets. Within the old walls are also a whole host of designer boutiques, street-cafes and restaurants in a perfect fusion of historic beauty and modern facilities.

A short ferry ride away from Como is the village of Cernobbio, with a stunning waterfront location, and a little further north is the lake’s only island, Isola Comacina, which is especially worth a visit at the end of June during the St, John’s Day celebrations. These festivities are focussed on the ruins of the S. Eufemia basilica, and end with a dramatic procession and spectacular fireworks display that seems to reflect on the tranquil surface of the lake for miles around.

Tremezzo and Bellaggio Property

Amongst the many other locations is which to buy Lake Como property are Tremezzo, with its traditional lakeside promenade, and Bellaggio, known as the ‘pearl of the lake’. With its cobbled streets and breathtaking views, Bellaggio is known as one of the most beautiful towns in Europe. Another stunning choice for Lake Como property is the small fishing town of Varenna, which is characterised by steep, winding alleys, lined with houses strewn with flowers that provide it with a lovely, traditionally Italian feel. Varennna is also home to an ancient castle, and Italy’s shortest river, the Fiumelatte, which, at only 800ft long, is said to have puzzled the likes of the great Leonardo da Vinci. This river cascades dramatically into the lake between the months of March to October and then abruptly ceases in the winter months.

Wherever you choose to buy Lake Como property, you can be sure of an idyllic location, surrounded by majestic hills and serene waterfront locations. There are some true gems of restauranteuring, serving the very best of fine Italian cuisine, palm-lined promenades, picturesque pavement cafes, and a vibrant nightlife. Lake Como property truly offers the very best of the Italian lifestyle.

Throughout the Lake Como area there are many things to see and do. Lake Como property is never far away from a notable historic villa, church or monastery, many of which boast spectacular gardens and breathtaking views across the lake. As well as the rich variety of restaurants, bars and clubs that would be expected, there are opportunities to spend an evening cruising across the starlit lake, or tasting the area’s exquisite local wines.

There is also plenty for the more active wishing to buy Lake Como property. Avid golfers are always delighted by the range of courses in the area, and all are set within spectacular landscapes, and tennis is a particular passion of the locals. The Alps are within easy travelling distance of Lake Como property, and, of course, have extensive skiing facilities. Watersports of all descriptions are readily found on the banks of the mighty Lake Como, including speedboating and yachting, with mooring available in a purpose built modern marina.

Whether to enjoy the spectacular scenery, the Italian way of life, or an opportunity to enjoy some active pursuits, Lake Como property truly has it all.

View Properties

Taxation

Various taxes must be paid on purchases. Registration tax / stamp duty (Imposta di Registro) is calculated on the government’s valuation of the property (Valore catastale). This will vary according to whether the property is being purchased as a holiday home, or as your primary residence. For a holiday home stamp duty will be 10% of the valuation. If you are intending to use the property as your primary residence and apply for residency (Prima casa), providing this is done within 18 months of the property transfer then stamp duty will be reduced to 3% for an existing property and 4% for a new build. This will be paid to the Notary on completion of the purchase.

Land registration, mortgage and cadastral taxes also need to be paid to the Notary on completion. These are one-off payments and are around €168 each.

Once the property has been purchased further taxes must be paid. There is a local council tax ICI/IMU property tax (Imposta Comunale sugli Immobili) of 0.4% to 0.9% of the property’s cadastral value. The rate for this is calculated annually by the council and paid bi-annually in June and December. This rate will be reduced if the property is the primary residence (Prima Casa).

If you are not resident in Italy you will have to declare any income gained from activities in Italy to the Italian Tax authorities. This income will also have to be declared in your country of residence, you will need a double taxation agreement to mitigate against paying twice. This declaration will apply to any income you might obtain from letting a property in Italy. Some expenses incurred on the property may be off-set against the income you derive from letting out the property. This can include management expenses, local taxes, repairs etc.

There is one tax which applies only to holiday homes, there will be a 20% Capital Gain on the difference between the buying price and the selling price if the property is sold prior to 5 years ownership.

View Properties

IMPORTANT - Disclaimer :
All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.