Easy investment opportunities on lake Como

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24.10.2018

Please find below the replies to the most frequent questions from the potential investor.

By Hanna Fitsner, local real estate agent and Irina Esina concierge manager who is taking care of all the properties sold by Best Como Immobiliare.

Which area on  Lake Como is the best for vacation rentals?

Lake Como attracts various tourists

The area close to Como (Blevio, Torno, Moltrasio, Laglio, Cernobbio) has an elite tourism, here luxury property is best rented.

The western shore of Lake Como from Argegno to Menaggio and those entering the “golden triangle” (Varenna, Menaggio, and Bellagio) is for tourists who like unhurried walks along the lake, watching parks, villas,  (many of them are located in this area) love eating tasty foods in local restaurants.

The eastern shore and the northern part of the lake are for young people and people who love sports (kitesurf, sailing, cycling, trekking) - the city of Domaso, Gera Lario, Colico, Bellano, Lierna.

Our opinion that everything can be rented!

Here's the list  of the features that are most appreciated:

  • new clean furniture,
  • lake view,
  • parking / garage,
  • balcony / terrace or garden
  • and pool!

 

What is the average income per year?

From the experience of our customers, the average income might vary from 3 to 8% per annum.

In Italy, for individuals who rent out to tourists, a flat tax of 21% is applied.

Attention, for non-residents of Italy there is no possibility to write off the expenses for the maintenance of real estate or concierge services from the taxable base. The rate applies to the amount of gross income.

What is the best size for good rentals?

They are rented well in terms of the number of weeks both studio apartments and apartments for large families.

When choosing a property in which you plan to invest, you need to take into account the following:

Not always 3 studio apartments will earn more than one big apartment (example: three apartments will have three different electricity meters, and for each meter, you will pay the same fixed amount of payment for the existing electricity contract)

Consider that in the Lombardy region, a private person who rents to tourists after 3 real estate properties must register as an enterprise, so he can no longer use a flat tax rate, must apply 10%  VAT on the bills just like hotels do, but can also write off their expenses from the taxable base.

When a client comes to me who wants to invest in real estate for income, if he has a large budget, I would rather offer him a villa than 10 small apartments that's because it's easier to keep and the income is the same.

 

Which times of year are best for rentals?

The tourist season is synchronized with the opening and the closing of villas and parks Usually the season is from March to the end of October.

In Lombardy, the individuals renting their property for short periods must be kept closed 90 days a year by law.

 

What month are rentals least occupied?

November - February

 

Conclusions:

  • Lake Como is one of the best places to invest in a vacation rental, in the season on booking.com you will see the occupancy of most structures up to 98%
  • Everything is rented and in any condition (and if you pay more attention to your property and make a little more for your guests than all the others, it will give you a great competitive advantage)
  • The rental income is paying off mortgage loan payments at the moment (it has never been so profitable to buy with a loan and rent out)
  • When deciding where and in what to invest, start from the budget you have to invest.

 

Who chooses the purchase of property for rental to tourists instead of investing in real estate for renting out for a long-term:

  • you want to periodically live in this property when you have a vacation

  • you invest in real estate in the best places in the world to preserve your capital, and you want the real estate to pay for its maintenance costs

  • you look for a stable rental income, but you want to avoid the problems associated with the insolvency of the tenant when renting for a long-term

 

Top 5 apartments for sale on Lake Como ideal for tourist rentals:

1. Directly on the lake one bedroom apartment with terrace overlooking the lake in a complex with swimming pool and direct access to the beach

Location: San Siro

Area: 60 sqm

Condition: new

Price: 240,000 euros

For more information see link

 

2. Apartment in villa Palma, a few hundred meters from the promenade along the lake, next to the villa Sola Cabiati and close to Villa Carlotta.

Location: Tremezzina, Tremezzo

Area: 70 sqm

Condition: after the complete renovation, fully furnished

Price: 249,000 euros

For more information see link

 

3. Apartment in the hills, but not far from the center, 2 bedrooms, garden, lake view, fully furnished and already rented for weeks, the price per night in August is 350 euros (!).

Location: Tremezzina, Mezzegra

Area: 95 sqm

Condition: new, fully furnished

Price: 335,000 euros

For more information see link

 

4. 400 meters from the center of Lenno, in a complex with swimming pool, with parking and a terrace overlooking the lake and the mountains

Location: Tremezzina, Lenno

Area: 85 sqm

Conditions: in perfect condition, fully furnished

Price: 300,000 euros

For more information see link

 

5. On the hills of Menaggio, in the  Borgo Loweno, near Villa Vigoni, already successfully rented 75% occupancy and an average price per night 145 euros, the estimate of apartment 9.1 on the booking site.

Location: Menaggio, Borgo Loveno

Area: 90 sqm

Conditions: in perfect condition, fully furnished

Price: 379,000 euros

For more information see link

In case you would like to get more information, please do not hesitate to contact us at +393664476630 (Hanna) or email to info@bestcomo.com.

 

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