What unites George Clooney, Virgin mogul Sir Richard Branson, fashion icon Donatella Versace and Inter Milan coach Jose Mourinho? All are near-neighbours around Italy's prestigious Lake Como. With such super-rich residents it is no surprise that buying property there can come at an eye-watering cost.
However, more and more foreigners investing in Italian Lakes real estate are picking up bargain vacation villas in this highly sought after location. They have instead discovered the delights of the tranquil banks of Lake Iseo nearby, almost unheard of in other countries but one that is no less appealing than this part of Italy's more high-profile expanses of water.
Iseo has equally attractive properties for sale, notably those that have majestic views overlooking the majestic blue stretch of water. But the difference is that they are much less expensive, with price tags barely 50% of what one would pay in Lake Garda, some 20 miles away. Typically, 175,000-190,000 Pounds Sterling ought to be enough for somewhere with three bedrooms near Lake Iseo, while a mere 85,000 Pounds Sterling should buy a lake-view two-bedroom flat overlooking the lake, with a garden or terrace thrown in.
And no fewer than four airports lie within an hour and a half's drive – three in and around Lombardy's capital Milan and the fourth in Brescia. One clear signal to the mounting attraction of this hidden gem can be seen in the inexorably rising number of cars bearing foreign registration plates on Iseo's charming lanes and roads in high season.
Stefania Russo of Italian property finders The Property Organiser said: 'We're urging our clients who are looking at that part of Italy to certainly consider Iseo. It's an area that is comparatively unknown, unspoilt by overwhelming numbers of visitors and close to several airports as well as the border with Switzerland. We believe real estate values here will go up in the next few years.'
To buttress the point, house prices averaged over Northern Italy's lakes slipped by 4.2% – slumping by nearly 9% in some parts of Lake Maggiore, a 2009 report by Italian real estate giants Tecnocasa revealed. Around Lake Iseo, however, there was a fall of under 2%.
The lake is found between Lakes Garda and Como and a few kilometres from the cities of Bergamo and Brescia. Milan is some 50 miles south-west of the lake, or 90 minutes by road and 60 by rail.
It is Italy’s seventh biggest lake, some 15 miles long and three miles wide , runs north to south and is overlooked by mountains. It is a heaven-sent spot for people wanting to take part in a variety of water-based pastimes such as diving, windsurfing and angling.
Rising 600 metres above the lake is Mount Isola, Europe's largest lake island. The two-mile isle is linked to the shore by ferry services from a number of towns. With practically no cars, the isle is very tranquil and is perfect to be explored on foot or bicycle. Monte Isola has a thriving net-making industry, which started with fishermen's nets but has now expanded to include sporting nets for volleyball and tennis.
Returning to the lake's shores, the most picturesque towns are on the eastern side, such as Iseo, Marone and Sulzano. Iseo is home to the greatest number of attractions, including an uncompleted church dating back to the 1100s.
The surrounding countryside is dotted with monasteries, abbeys and castles that can be discovered by walking, cycling or, even more leisurely, by horseriding. And in winter, Montecampione attracts hordes of amateur skiers. Bear in mind that with the Alps close by, a number of walking and cycling paths can be a steep climb.
Adriana Giglioli writes for Homes and Villas Abroad, who advertise nearly 3,000 houses for sale in Italy. Her areas of expertise include Sicily property and property in Tuscany.
Read More From Adriana Giglioli
|
