2026 Market: Lombardy Still the Real Estate Engine
The most populated and one of the most productive regions in Italy, Lombardy remains a real estate engine in 2026 📈. The gradual easing of interest rates and solid employment support demand, despite marked disparities between territories.
Average Regional Price: ~€3,350/m², +2.1% year-on-year
In 2026, the average price stands at around €3,350/m², an increase of approximately +2.1% year-on-year (indicative data). Performance varies according to property type and location.
- Urban centers (Milan, Monza, Como): Persistent tension on renovated, high energy-rated properties.
- Well-connected suburbs: Renewed interest in new homes with outdoor spaces.
- Heritage markets (Mantua, Cremona): Stable volumes, gentle appreciation.
- Observed median selling period: 60 to 90 days for a property at listed price.
Milan Leads: €5,600/m² on Average in 2026
With an average close to €5,600/m², Milan confirms its leadership 🏙️. Intra-urban differences remain marked: a high premium in the center, moderation in districts under redevelopment.
- City center (Brera, Quadrilatero, Duomo): Levels often above €8,000/m² for high-end properties.
- Up-and-coming districts (Porta Romana, Bovisa, Lambrate): Relative discount but potential boosted by urban programs and mobility (M4, M5).
- Rental investment: demand driven by the tertiary and university sectors; typical gross yield 3–4% depending on location and condition.
Market point — second homes: according to properties available for purchase in Milan, the average is around €6,153/m² for generous surface areas (≈261 m²) and a median budget of around €1,606,000. This gap with the overall average reflects a more upmarket mix, typical of searches seen on Green Acres.
Secondary Markets in Lombardy
Bergamo and Brescia: 2023 Cultural Capitals, Lasting Impact on Prices
The year 2023 acted as a booster for awareness 🏛️. In 2026, demand remains strong for renovated historical centers and properties close to amenities.
- Bergamo: common range from €2,400 to €3,200/m² for a renovated apartment within the city walls.
- Brescia: €2,200 to €3,000/m² depending on the district, with a growing appeal for high energy performance properties.
- Seasonal and corporate rental increasing, driven by cultural offerings and events.
In Bergamo, the listings show an average of ≈€2,339/m² for properties around 124 m², for a total budget close to €290,000. This average, broader than just renovated city center, is consistent with the mentioned price range.
Cremona and Mantua: Stability and Heritage Appeal
These markets offer lower entry tickets, ideal for a first Italian purchase 🏞️. The architectural heritage acts more as a value driver than as a vector for rapid growth.
- Usual levels: €1,600 to €2,300/m² for properties in good condition in central neighborhoods.
- Limited volatility, regular volumes; caution regarding renovation costs on older properties.
Lake Areas: Prestige and Strong Foreign Demand
The lakeside segment attracts strong international interest 🌊. Land scarcity and views generate significant premiums, especially for « waterfront » properties.
Lake Como and Lake Garda: Prices from €4,000 to €8,000/m²
- Lake Como (Como, Cernobbio, Bellagio): €5,000 to €8,000/m² for renovated properties with views; +20 to +40% premium on the waterfront.
- Lake Garda (Sirmione, Desenzano, Salò): €4,500 to €7,000/m² depending on exposure, access, and amenities.
- Seasonal rentals: high occupancy from April to October; ensure regulatory compliance before any rental project.
On Lake Como, houses for sale in Como are around €6,333/m² for apartments of about 84 m² (average budget ~€532,000), at the core of the €5,000–8,000/m² range.
On the Brescia shore of Lake Garda, in Salò, the average asking price is around €3,863/m² for large properties (≈342 m²) and an average budget of about €1,321,000. The milder price per m² often reflects spacious villas in the second row, while the waterfront retains high premiums.
New Eco-Friendly Developments on the Outskirts of Sirmione and Bellagio
Recent developments focus on energy efficiency and comfort 🌿. They meet the expectations of an international clientele seeking « turnkey » homes.
- Targeted performance: energy class A/A4, enhanced insulation, heat pumps, photovoltaic panels.
- Comfort and services: home automation, shared pools, charging stations, concierge.
- Controlled costs and easier resale for high energy performance properties.
Property Types and Demand Dynamics
Growth in Premium Second-Home Purchases
- Priorities: unobstructed view, terrace/garden, parking, quick access to amenities.
- Search for move-in ready properties, with little need for works.
- Frequently observed budgets on the lakes: €800,000 to €2M for prime; more affordable offers off the waterfront.
Increase in German and Swiss Clientele
- Geographic proximity and excellent road/rail network.
- Quality of life, cuisine, climate, boating and mountains nearby.
- Portfolio diversification in the eurozone; dual use for living and leisure.
Real Estate Price Trends in Lombardy 2026–2030
Moderate Growth Expected in Tourist Areas (+3%/year)
- Scarcity of buildable land and strong international appeal.
- Upmarket evolution of offerings, with energy requirements and services.
- Main risk: local restrictions on short-term rentals and energy renovation costs.
Price Stabilization in Milan with New Urban Programs
- Arrival of new/renewed supply in several districts, absorbed by robust demand.
- 2026–2030 central scenario: prices generally stable to slightly positive (0 to +1.5%/year) depending on sectors, dynamic rents.
- Micro-local selection (street, transport, energy performance) will make the difference at resale.
Key Takeaways for a Worry-Free Purchase 🔎
- Define your timeline (use, rental, resale) and your all-inclusive budget.
- Obtain financial pre-qualification; anticipate purchase fees (often 7–10% for existing homes, 3–5% for new builds).
- Check EPC/diagnostics, planning compliance, and co-ownership status before signing.
- Favor locations close to services and transport to secure long-term value.
