Home News House Hunting in Italy: A Perch Over Lake Como for $1.5 Million

House Hunting in Italy: A Perch Over Lake Como for $1.5 Million

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This 4 bedroom, 6 bathroom Villa It is located on the embankment of Brunate, a village in northern Italy above the city of Como and its famous lake.

Built in 1908 in the Italian “Liberty” style, a variant of Art Nouveau, the hotel was owned by the same family for 115 years and was used as a villa until 1960. Updated in 2013, the owner states: He emailed him that he chose to “conservative” refurbishment, “maintain the characteristic Liberty style”, and maintain the original terrazzo floors in all but two rooms. The project included adding bathrooms to two bedrooms, creating a parking lot for five cars, and installing irrigation in the yard.

Built on a stone retaining wall with an integrated entrance to the unfinished basement, the three-story house has a two-story living space and a three-story apartment with a separate entrance and roof terrace. I have. You can rejoin the apartment with the rest of the house by reopening the internal stairs.

Ceiling heights of 12 feet or more and large windows invite light into the space. The larger of the two living rooms faces the veranda on the ground floor through a double door with vintage details. The small living room faces a balcony with lake views. The large kitchen features terrazzo floors and wooden siding and is reasonably updated. The separate dining room runs through the open-plan corridor.

There is a bedroom on the second floor with 3 private bathrooms, and there is also a bathroom in the second half. The primary bedroom has a frescoed ceiling and a small balcony with lake views.

The two-bedroom apartment on the top floor has a terrace large enough for an eat-in kitchen and outdoor dining. The beadboard ceiling and wooden rafters in the main bedroom evoke an attic feel, and the windows have a more outdated decorative latticework. The second room, which is currently used as a bedroom, is suitable for home offices. The attic on the top floor is not allowed to move in and has half bath and cedar panel walls and ceilings.

Outside, there is a solarium with a terrace and dining and seating space. A small swimming pool is located above the ground in the garden behind the cypress trees and near the iron pergola.

The house is a 3-minute walk to the historic ones Cable car A railway system that connects Brunate and Como City. It’s about 2,300 feet below the shore. Brunate, a village of about 1,800 people, 35 miles north of Milan, is known for its dense Art Nouveau homes and is dotted with shops and restaurants.

“Part of its appeal is that while Como is very lively, it has a nice calm atmosphere with space and tranquility at the top of the hill,” said Knight Frank’s agent, who is familiar with the list. Said Victoria Sidnes. ..

Milan Malpensa Airport is a 50-minute drive away. Como has San Giovanni and Comonodorago stations, which operate daily. Milan..

For the fourth quarter of 2021, Italian National Statistics Bureau Notary agreements reported 263,795 home sales of all types, an increase of 14.1% year-on-year. A Current economic survey By real estate agent BancaItalia Real estate data firm Technoborsa reported that 87.6% of agents sold at least one property in the first quarter of 2022. This is the highest market share since the survey began in 2009. Eighty percent of these sales were for existing homes.

Engel & VolkersThe 2021 market report shows that housing transactions increased by 43% in 2020. According to agency reports, Milan ranks second among Italian cities in terms of new or refurbished home prices, after Venice.

The home of Brunate and Como, Lombardy has long been a region of commerce and international trade, thanks to Milan’s fashion, automobile and financial industries, and its proximity to the Swiss-French border. Como’s commune is located on the southern tip of Italy’s third largest lake and is known for its historic villas and resorts.

However, while many associate the lake with luxury homes, the types and prices of homes around the lake vary, says Marta Brunellini Romolini of Romolini Immobiliare, an affiliate of Christie’s International Real Estate. Homes at the northern end near the ski slopes tend to be new buildings priced at € 185-230 per square foot (currently the US dollar is about the same as the euro). The west side of the lake, where famous places and villas are concentrated, orders the highest prices.

“Prices here are much higher, averaging 3,500-4,800 euros per square meter (325-445 euros per square foot), but when it comes to lakeside villas, it can easily go up to 6,000 euros. “” Said Romolini.

Yasemin Baysal, managing partner of Engel & Völker’s Lake Como office, said inquiries have increased by 30% since the pandemic and are led by Americans. Since the beginning of the war in Ukraine, the number of Russian buyers, historically the top buyers in the lake region, has declined.

“Since the recent crisis, people have to invest in stable markets and know that demand will never collapse in Como,” said Basal, who said many Americans deposit after virtual tours. Said that he was depositing. She said that 80% of the high-demand homes are villas in places such as Bellagio, which cost between € 930 and € 1,860 per square foot.

Knight Frank reports it Average price of prime property Along the lake increased by 4% in 2021 and there was high demand in the range of 2-4 million euros. According to Knight Frank, Ultra Prime properties average € 1,115 per square foot. Italian market analysis..

Due to strong demand since the initial fall in home sales prices in the pandemic, Como home prices have continued to rise from an average of 175 euros square feet in February 2020 (the lowest since 2014). High of € 187 per square foot in October 2021 Immobiliare.it, Italy’s leading real estate portal. Last month’s price was slightly lower, at 185 euros per square foot, but still up 2.2% compared to June.

In the town of Brunate, Immobiliare reported an average May selling price of 188 euros per square foot, down 2.4% from February 2021 and 31% from its peak in July 2017 at € 247. ..

Lake Como has become a popular second home for foreigners working in Milan and for children attending Como International Schools in the city. Of all Knight Frank’s Italian destinations, the region “attracts the most diverse combination of buyers from Europe, the United States, the Middle East and Australasia,” said Kate Everett, Knight Frank’s Head of Housing Research. Allen states in over 144% of queries. last year.

“The key story of 2020 and the first half of 2021 was the competition for space,” she said.More than half of agency respondents Global Buyer Survey They said they were more likely to look for homes with natural views after the Covid-19 crisis than before.

Italy offers a flat tax shelter for the wealthy non-residents who pay an annual fee of € 100,000 for non-Italy world income. This benefit can be extended to other families for a fee of € 25,000 per year. Applicants must have purchased or rented accommodation in Italy.

Italy’s Institute of Statistics has moved to the larger Lombardy region as of last year The second largest population of foreign residents11.9 per 100 residents.

Roberta Crivellaro, Italy’s Head of Operations at Withers Worldwide’s Milan Law Firm, said that foreign buyers have no restrictions on purchasing from other individuals, and the notary public they choose is usually due diligence without a lawyer. It states that it can handle.

“The notary does not negotiate a contract between the parties,” she said. “Therefore, it is not strictly necessary, but we strongly recommend the involvement of a lawyer.”

Buyers must obtain an Italian tax code through an online application at the local Italian tax office or Italian consulate.

Italian; Euro (1 Euro = $ 1.01)

The annual property tax for this house is 2,000 euros. According to Clivelaro, the transfer tax (or stamp duty) for the first home is 2% of the assessed amount (if not a luxury home) and 9% for non-residents / second homes.

The broker fee is 2-5% and is paid by both the buyer and the seller. Notaries and real estate surveyors (if required) are paid by the purchaser.

Andrew Blandford-Newson, Knight Frank011-44-20-3640-7048; www.knightfrank.com

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