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Italy: Lombardy (Lombardia)

Overview

Lombardy is situated in the north of Italy (bordering Switzerland) and contains the provinces of Bergamo, Brescia, Como, Cremona, Mantua (Mantova), Milan (Milano, also the region’s capital city), Pavia, Sondrio and Varese. It’s one of Italy’s largest regions, covering an area of 23,854 sq km (9,211sq mi) with a population of almost 9 million. Lombardy is an important commercial region and the industrial heartland of Italy, the area around Milan producing some 40 per cent of Italy’s GDP. One of the main industries is textiles, particularly silk (Como) and wool (Biella), while Milan is the country’s financial centre and its wealthiest city (with its most expensive property and highest cost of living).

Geographically, Lombardy is the most varied region in Italy with the vast alluvial plain of the River Po (Italy’s longest river) valley in the south and gently rolling hills rising to the dramatic peaks of the Alps in the north, interspersed with the famous lakes of Como, Garda, Maggiore and d’Iseo. The lakes area is popular for both principal and holiday homes, and their stunning backdrop of mountains has inspired composers, painters and writers for generations, including Rossini, Shelley, Verdi and Wordsworth. In the mountains are numerous ski resorts, including Alta Badia, Cervinia, Cortina, Courmayeur, Gressoney, Livigno, Madonna di Campiglio, Ponte di Legno, Sestrére, La Thuile and Val Gardena. Among the most attractive lake towns are Bellagio (which has a breathtaking setting on Lake Como), Desenzano, Gardone Riviera, Limone sul Garda (where a special micro-climate creates winters mild enough for wine production and botanical gardens), Salò and Sirmione. It’s a favourite area with retirees, as the hills protect the lakefront from northern winds.

Milan (population 1.3 million) is the financial and economic centre of Italy and also the heart of its communications and fashion industry. It’s renowned for its rich cultural life and numbers among its many attractions the Brera gallery, Leonardo’s famous fresco of the Last Supper in the church of Santa Maria della Grazie, the La Scala opera house, Sforzesco Castle, and a myriad of museums and galleries. Milan is one of Italy’s foremost shopping cities with a wealth of elegant (and expensive) shopping streets such as the Galleria and Via Montenapoleone. The symbol of Milan is the imposing Gothic cathedral (the third-largest in Europe) with its Madonnina set amid a forest of spires, pinnacles and flying buttresses. Milan is also noted for its cuisine and boasts some of Italy’s best restaurants, where one can try the local risotto alla milanese. Milan has the highest foreign population in Italy.

Other fine cities in Lombardy include Bergamo, Brescia, Crema, Mantua (Mantova), Monza (with a royal villa and famous Formula One racetrack) and Vigevano, each with its own unique character. Tourists and residents alike are attracted to Stelvio national park and popular mountain resorts such as Aprica, Bormio, Caspoggio, Chiesa, Livigno, Madesimo, Ponte di Legno, Santa Caterina, Stelvio and Valfurva.

Property: Property in Lombardy is among the most expensive in Italy, particularly in Milan (with its wealth of palazzi with elegant patio-courtyards), where prices start at around €6,000 per sq m, the lakes area and the more fashionable ski resorts, such as Cortina. As these prices suggest, property in Lombardy is in high demand among foreign buyers, who bought 10 per cent of property in the region in 2002. With the opening of a new motorway, the towns of Arona, Baveno, Stresa and Verbania are now within 45 minutes of Milan and have seen increasing numbers of Milanese buying principal homes. Prices here are around €1,200 per m2 for homes in need of restoration and €1,500 to €2,500 per sq m for restored properties.

Communications: Lombardy is served by two international airports in Milan (Linate for some European flights and Malpensa for inter-continental flights and some European flights) and has superb road and rail connections, both nationally and internationally.

A new motorway has brought the towns of Arona, Baveno, Stresa and Verbania within 45 minutes of Milan (see Property above).

© Survival Books Limited 2003

“Buying a Home in Italy” 3rd Edition, David Hampshire.

Reproduced with the permission of Survival Books Limited.

Further information on this topic can be found in “Buying a Home in Italy” 3rd edition, by David Hampshire.

For extensive information about buying a property in Italy, you can purchase this book at www.survivalbooks.net

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