Find A Vacation Villa On The Cheap On Lake Como

The media storm abated, it turns out Hollywood icon George Clooney elected not to put on the market his US$10million villa on the shores of Italy's Lake Como, even though there were interested purchasers at the reported US$26million price tag.

And who can blame him? Almost everyone who comes to this breathtaking part of Northern Italy is so won over by its beauty that they find it a wrench to leave. Just some of the other star names who own Lake Como real estate are fashion designer Donatella Versace, Virgin tycoon Sir Richard Branson, rock star Sting, Ryanair owner Michael O'Leary and soccer coach Jose Mourinho, while relatives of late designer Gianni Versace sold their villa for Euro 30million.

Such is its star quality that scenes from Daniel Craig's first movie as British agent 007 as well as Star Wars blockbuster Attack of the Clones were shot here while Cernobbio, on the lake's south-western shores includes the likes of Arnold Schwarzenegger, Angelina Jolie and Yves St Laurent among its devotees.

Since Clooney moved into his 25-room Villa Oleandra in Laglio eight years ago, near Cernobbio, visitors have included the likes of Brad Pitt and Matt Damon. He also bought a derelict property next door to his for a further US$4million that he subsequently fixed up into a guesthouse for his famous chums.

Lake Como forms an upside-down "Y" that begins from the foot of the Alps close to the border with Switzerland and runs south for some 55km. Its great views and the Alps forming a stunning backdrop make the area among the country's premier spots in which to own property. One of the dearest too. The presence of the actor created a surge in the housing market that has meant asking prices climb by a steady 5% average per annum. Despite the global housing slump, the market here has remained buoyant, thanks to demand from wealthy Milanese and Swiss financiers to the north. Lake Como has no shortage of Euro 10million properties if you want a sprawling home on the banks of the lake with a iconic Hollywood actor next door.

However, the good news is you don't need to have a movie star's bank balance to snap up a home here. In Laglio, a 36-apartment lakeside complex was put on the market recently with prices from Euro 137,600 to Euro 400,000. In Lenno, some 15km up the same coast, you can find a new-build flat for just Euro 165,000. And in Tremezzo nearby, a lake-view apartment was recently available for Euro 250,000.

There are even better bargains further north up the lake. Locations on the north-west shores such as Dongo, Musso, Domaso and Pianello Lario are a popular option if you want to spend less than Euro 250,000.

In Pianello Lario, a development of lake-view properties 600 yards from the lake and wit shared pool has one-bed flats from just Euro 110,000. With the Alps within easy reach, rental potential is excellent, typically around Euro 3,500 a month. Gravedona, some four miles away is cheaper still. Here, expect a little over Euro 100,000 for a two-bedroom flat with a view over the water, albeit you may have to settle for being slightly away from the water.

Lake Como has bewitched visitors from all walks of life for millennia. The Roman writer Virgil – it was Lake Lario in his day – told of its beauty. Some years on, Roman politician Pliny The Younger had a couple of villas here. The Romantic poet Shelley wrote effusively about how the lake "exceeds anything I ever beheld in beauty". And literary icon Henry James was left awestruck as he wrote: "One can't describe the beauty of the Italian Lakes, nor would one try if one could."

It's easy to see why. This is the country's third largest behind Garda and Maggiore and is a little under 60sq miles of tranquil blue water bordered by mountains and woodland, a picture postcard of stunning beauty.

The vista is marvellous from almost the entire length of the 180km coastline. But it's hard to top its middle section where the lake splits into two forked lengths, one leading to Lecco, the second to Como.

Bellagio is dubbed The pearl of the lake and many people in these parts argue it is Europe's most beautiful town. Stroll down its charming medieval lanes, gazing at the view, or take a ferry to Menaggio on the west bank or Varenna on the east, the snowy Alpine peaks rising majestically in front of you, and you would think likewise too. Six airports serve the area: Lugano in Switzerland is just over 30 minutes away, while Milan Malpensa, Milan Linate and Orio al Serio in Bergamo are all within 90 minutes. Slightly further afield are two more, in Brescia Gabriele D'Annunzio (some 1hr 40mins from Como) and Verona Valerio Catullo in the Veneto region (just over two hours).

The author is an expert in property in Lombardy at the real estate portal Homes and Villas Abroad.com. She also specialises in Puglia real estate.

ArticleSource: ArticlesAlley.com

Additional articles about Italy

About the author

Please Rate This Article

Number of ratings: 0
Rating: 0

Articles Area

Guidelines

Find A Vacation Villa On The Cheap On Lake Como