Where is it worth investing in a lake house in 2025? The best locations and the highest returns. Tips for choosing the right property.
An oasis of peace, breathtaking views and attractive returns: the lake house is experiencing a new golden season. After the pandemic, the rush for properties in tourist resorts drove up values and today the market continues to show signs of liveliness.
The rise in lake house prices since 2020
The real estate market in Italian lake resorts has seen a significant revaluation in recent years. According to Fabiana Megliola, head of the study office of the Tecnocasa group, from 2020 to today prices have risen by 19.1%, with Lake Garda leading the way in terms of performance (+24.3%). And in the second half of 2024 alone, values in lake resorts have increased by 1.5%.
Where is it worth buying a house on the lake today? Prices and trends 2025
Lake Garda: Veronese vs Brescian shore
On Lake Garda, in particular, ‘since 2020, the Veronese shore has recorded a price increase of 32.2%, against an average of 14.5% for the Brescia shore,’ explained Megliola, who then specified that in this time span one of the municipalities that has grown the most is Affi (+48.4%), a location located inland that, having lower prices, has attracted those with smaller budgets.
‘Among the most renowned municipalities, Desenzano (+43.6%), Bardolino (+31.9%) and Torri del Benaco (+29.7%) did well,’ commented the Tecnocasa expert, pointing out that Affi (€2250 per square metre), Cavaion (€2400 per square metre), Costermano (€2650 per square metre) and Caprino (€1800 per square metre) are establishing themselves as alternative destinations, further from the lake but less expensive and with new construction underway.
In the Brescia area, on the other hand, Polpenazze (€ 2,000 per sqm) and Puegnago del Garda (€ 1,800 per sqm) are establishing themselves.
Alternative locations: from Lake Maggiore to Lake Orta
On Lake Maggiore and Lake Orta, demand is also buoyant. Danilo Orlando, head of residential at Savills Italy, reported a growing interest in exclusive and scenic properties.
“Lake Maggiore stands out for the demand for luxury villas, particularly in the areas of Stresa and Verbania, while Lake Orta attracts for its more intimate character and good value for money.
The allure of a Lake Como home
Lake Como, which has always been an icon of Italian luxury, remains among the most sought-after destinations: the prestigious areas in the first basin, Tremezzina, Menaggio and Bellagio are at the centre of demand, with prices for historic villas starting from 5 million euro and exceeding 10 million for lakefront properties with private gardens,’ Orlando illustrated.
Who buys a house by the lake? Italians, foreigners and new trends 2025
Age and profile of buyers
The profile of buyers is varied but with some common traits. According to Tecnocasa’s data, 49% of purchases are of main homes, but in 25.5% of cases (i.e. one house in four) it is a holiday home, while the remaining 25.5% is made up of investors, who buy a lake house for income (i.e. as an investment).
“Taking only holiday home purchases at the lake into consideration, the most active buyers are those between 45 and 64 years of age, who make up 66 per cent of all purchases. Those buying second homes at the lake are mainly families (81.4%), while singles stop at 18.6%,‘ commented Megliola. ’The types most purchased by tourists are three-room apartments (40.6%), followed by two-room apartments (33.3%) and detached and semi-detached solutions (13.5%).
What foreigners are looking for: budget, countries of origin, expectations
However, there is no shortage of international buyers: ‘The foreign component is growing. In 2024, 45.4% of sales were concluded by foreign tourists, compared to 54.6% of purchases by Italian tourists,’ Megliola explained.
“On Lake Maggiore, foreign investors and wealthy families dominate, while on Lake Orta both Italians and foreigners are looking for second homes or long-term investments. Lake Como attracts mainly foreigners – North Europeans, Americans and Italians living abroad – who are interested in both multimillion-dollar residences and small charming homes. However, there is no shortage of young professionals attracted by the relaxed lifestyle and proximity to Milan,’ Orlando added.
Megliola, for his part, went on to explain that “Germans have always been present on Lake Garda, but the crisis that has affected Germany in recent years has led them to reduce the budget to be allocated to this purchase or to give up. On the other hand, buyers have arrived from the Czech Republic and Poland, a trend that was already evident last year and has become stronger in the second half of 2024”.
How much does a lake house cost? Budget and mortgages in 2025
Those who buy a holiday home by the lake generally do so without the aid of a mortgage (90.7%): according to data from Tecnocasa, in fact, only 9.3% of purchases and sales take place with the aid of a mortgage.
Price ranges in the different Italian lakes
Budgets are variable: “On Lake Maggiore, the most sought-after range is between EUR 500,000 and EUR 1.5 million, while the most exclusive villas can exceed EUR 5 million. Lake Orta offers a more accessible market, ideal for those looking for a second home with a view at a competitive price.
Lake Como, on the other hand, is in a much higher bracket: starting from around 2 million for flats in historic villas with private access to the lake, up to over 10 million for villas with gardens directly overlooking the water. Despite the high prices, interest remains very high, making this lake one of the most profitable areas for luxury real estate investments,’ Orlando pointed out.
Lake houses: how much do they really yield?
The market for second homes at the lake also proves attractive for those seeking a profitable investment. ‘The gross annual returns are definitely higher than those of an ordinary rental and can even reach 7% gross per annum, a percentage that can even be exceeded if the property is rented out to out-of-office workers during the year and to tourists in the summer months,’ explained Megliola. “However, there are also an increasing number of owners who choose to rent their homes for short periods just to cover the property’s maintenance and management costs.
What today’s lake house buyers are looking for
The most sought-after features: view, exteriors, privacy
Those who want to buy a house by the lake today have clear ideas: liveable outdoor spaces, panoramic views, proximity to the lake (especially for Italians), or privacy and tranquillity (in the case of foreigners). Single villas are highly coveted among customers with higher budgets, while investors tend to focus on easily rentable flats.
Trends for the future: sustainability and turnkey services
When it comes to the forecasts for the next five to ten years, the estimates are optimistic. ‘Well-connected and amenity-rich locations will be the most desirable,’ Orlando emphasised, who then concluded by saying that he expects ‘sustained growth in demand for highly sustainable properties and turnkey services’.
