The luxury housing market in the Como and Garda lake areas has seen significant growth compared to 2019, with a significant increase in available stock, overall value and surface area. According to the National Observatory of the Luxury Real Estate Market, at the end of 2023, the number of luxury property listings increased by 45% compared to the first half of 2019. The overall value of the stock also increased by 22%, while the total surface area grew by 18%, bringing the luxury market to a value of 2.77 billion euros and a surface area of 385,719 square meters. The ratio between villas and apartments has seen a gradual decline in the share of villas, which at the end of 2023 represented 48% of the available stock, while apartments constituted 52%. The average time needed to sell a luxury property (Time to sell) decreased from 11.4 months in 2019 to 8.4 months in 2022, and has now stabilized at 7 months. The average age of listings on the market (Time on market) also decreased from 12.9 months in 2019 to 10.4 months at the end of 2023. Despite the expansion of supply, interest in luxury homes near Lake Garda and Lake Como has significantly declined in the second half of 2023, with a 14% drop compared to the beginning of 2019. However, demand for luxury properties in these areas has maintained a stable share at a national level, around 2%, with a slight decrease in the second half of 2023.
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