Italy Sotheby’s International Realty Opens New Office at Lake Maggiore in Dynamic Response to Increased Country Market Demand
Posted by Ilaria Pinto — July 8, 2020
MILAN, ITALY - Italy Sotheby’s International Realty, a globally-recognised luxury real estate agency, is expanding further and opening its ninth office in Arona in the Lake Maggiore region. The new office, opening at the start of July, will help cater to renewed buying interest following the recent lockdown in one of Italy’s most picturesque and sought-after areas.
The Lake Maggiore area, with the second largest lake in Italy at its epicentre, boasts a mild climate year-round and serves as a fantastic base for those looking to explore the archipelago of the Borromean Islands such as Isola Bella and Isola dei Pescatori or the formidable castles in the surrounding area.
As a destination popular with both domestic and international buyers, predominantly from Northern Europe, the area has seen a significant uptick in popularity following the coronavirus pandemic, due to its abundance of properties with green, open spaces which allow for the positive benefits of interacting with nature in relaxing scenery.
Lodovico Pignatti Morano, Managing Partner of Italy Sotheby’s International Realty, comments, “Our market is made up of 60% of customers who are looking for a second home to be used for weekends and holidays, and 40% of customers who want to change their lifestyle all year round, looking for a property on the lake, where they can live enjoying the surrounding nature, less than an hour away from Milan."
"The requests for this area have significantly increased, especially regarding rents, which we have never managed in this area until now. In the month following the lockdown, we closed three deals, two lettings and one sale.”
In recent months, requests from Italians looking for a property on Lake Maggiore have risen by 20%, while there has been a 70% increase in rental enquiries. Requests specifically for standalone properties with large gardens and swimming pools have risen by 15%. Local buyers represent 35% of the Lake Maggiore market, while international buyers comprise 65%. Enquiries in this segment of the market have risen by 15% in the past few months. The buyers come mainly from Germany (25%) and Switzerland (12%), followed by the United Kingdom 10%. France, Belgium and the Netherlands make up 18% combined.
The new office benefits from a central location in the heart of Arona, on via Bottelli 8, a prime position on a major street in the small town. The team is made up of five brokers led by the Head of Sales, Isabella Masserini.
Arona: panoramic villa with garden renovated by an internationally renowned architect
Meina: ancient greenhouse completely renovated with beautiful view of the lake
Verbania: exquisite villa dating back to 1870, sensitively restored, overlooking the islands of the lake
Baveno: charming historic villa immersed in a centuries-old park
Ghiffa: the Art Nouveau style villa with a large park
About Italy Sotheby's International Realty
Italy Sotheby's International Realty is considered one of the most important luxury real estate businesses.
Born in 1976, the brand stands out for its professional service, that has characterized Sotheby’s Auction House for more than two centuries.
Italy Sotheby's International Realty has nine offices in Milan, Rome, Como, Florence, Lucca, Turin, Lake Garda, Lake Maggiore and Porto Cervo, and 22,500 agents in over 1000 offices in 72 countries around the world - from the United States to Europe, Russia, Japan, China...offering residential, hotels, retreats and high-street retail services.
Italy, among the five most visited countries in the world, is unique for its artistic and cultural heritage, as well as its nature, fashion, design and food and wine. This is what every day Italy Sotheby's International Realty undertakes to represent with its leading position in the promotion of the most prestigious properties.
RESIDENTIAL DEPARTMENT: exclusive properties located in the most important Italian cities, from Rome to Milan, Turin, Florence and Naples. But also refined villas in tourist destinations, unique in the world such as Capri, Portofino, Lake Garda, Lake Como, Costa Smeralda and Tuscany. Sometimes these are real historical properties belonging to noble people such as Paolina Bonaparte, Napoleon's sister, or Amedeo VI of Savoy called the "Green Count".
HIGH STREET RETAIL DEPARTMENT: the High Street Retail department represents the ideal partner for companies that wish to find the most suitable location in the most exclusive fashion streets of Italy. The proposals of Italy Sotheby's International Realty therefore guarantee maximum visibility in those city locations of major commercial interest.
HOTELS DEPARTMENT: the Hotels team supports its customers in the acquisition and divestment processes regarding accommodation facilities, both in the preliminary phases, in which investment opportunities are identified, and during the placement on the market for the disposal. The department also offers operator selection services, i.e. operator search and selection, through competitive processes, too.
RETREATS DEPARTMENT: from Cortina to Positano, the Retreats department deals with the search for prestigious house available on the seasonal or short-term rental market, selecting the most beautiful properties and offering a service that includes starred staff or dedicated luxury services.