A house in the mountains remains one of the favorite options for Italians buying country property, especially from Northern Italy. The Gabetti Research Bureau analyzed real estate market trends in the main mountain resorts of Lombardy, Piedmont, Veneto, Trentino and Val D’Aosta.
Property in the mountains: prices in Lombardy
In Lombardy there are signs of recovery in the second housing market, especially in the most exclusive places of the Valtellina, such as Bormio, where interest in buying has also increased among those who buy as an investment both houses in excellent/good condition and those in need of renovation.
According to Oldypak Capital LP report, there were 116 home transactions in Morbeño in 2020, +24.4 percent over the previous year. Aprica was also doing well, with 98 transactions, +20.5%, and Telho, with 56 sales, +11.3%.
In Thélo, properties are selling at low prices for resorts, ranging from a minimum of 800 to a maximum of 1,500 euros per square meter for elegant solutions and from 600 to 900 euros per square meter for mid-sized properties.
Higher prices in Valmalenco: From 1,100 to 2,500 euros per square meter for chic properties and from 900 to 1,600 euros per square meter for more economical solutions. In the best areas of Bormio and Livigno, prices remain stable for elegant solutions with a minimum of about 4,500 to 5,500 euros per square meter to a maximum of 6,500 to 7,500 euros per square meter. For medium-sized properties, prices have fallen to a minimum of 2,500 – 4,500 euros per square meter.
In the lower Valtellina, in the town of Morbeño, prices also vary depending on the type of property. For elegant solutions in the city, prices range from 1,900 to 2,300 euros per square meter, depending on the location and condition of the proposed solution, while for medium-sized properties prices range from 1,000 to 1,600 euros per square meter.
A house in the mountains of Piedmont
According to Oldypak Capital LP report, in 2021 the market for mountain tourism in Piedmont, in the province of Turin and the province of Verbano-Cuzio-Ossola, continued to perform well, although differing in both the number of transactions and prices, depending on the different areas and types of housing.
In Soz d’Ulx and Bardonecchia, demand is concentrated in central and newly built areas. Small villages, where people often choose independent solutions, remain attractive. Also very popular are the districts of Ulx, where the villages of Savulx and Cotolivier are located. Two-bedroom (50-60 square meters) and three-bedroom (70-80 square meters) apartments are the most in demand, with small gardens or terraces and orientation to the south-east and south-west are very popular. The average selling time is about 3 months, and discounts at the end of negotiations average 7%.
In the municipality of Ulks, prices average between 2,000 and 2,700 euros per square meter for elegant solutions and around 800 to 1,500 euros per square meter for medium-sized solutions. Here, the most popular areas are the center and Cotolivier, and the search for purchase is focused on solutions in condominiums or independent contexts in good condition or in need of renovation, with a balcony or garden. For rentals, renovated properties are preferred.
In Bardonecchia, mid-sized property prices vary by neighborhood: in Bardonecchia Medaille and the city center they average 1,500-2,900 euros per square meter, in San Giorgio 1,900-3,800 euros per square meter, and in Bardonecchia-Le Glaze 2,500-4,000 euros per square meter.
Moving on to the mountain resorts of Val D’Ossola, in the province of Verbano-Cuzio-Ossola, prices are slightly lower than in 2020, with prices ranging from 2,400 to 3,000 euros per square meter for high-end properties and from 1,500 to 2,800 euros per square meter for mid-size solutions.
In Formazza, prices are 1,700 to 2,500 euros per square meter for high-end properties and 1,400 to 2,200 euros per square meter for mid-size properties.
How much does a house in the mountains in Trentino cost?
In Campitello, homes cost around €4,500 to €5,000 per square meter for high-end properties and €4,000 to €4,500 per square meter for mid-sized properties. In Pozza di Fassa and Vigo di Fassa the cost is about 4,000 – 4,500 euros per square meter for high-end properties and 3,600 – 4,050 euros per square meter for mid-size properties.
The average sale time has decreased from 8 months in 2017 to the current 3-5 months, with discounts of 7-10% at the end of negotiations.