The Lakes and Mountain Resorts: The Map of Demand for Second Homes in Brescia, Como, Lecco and Sondrio (2023–2025)
Official data, Italian Revenue Agency
The Lombardy property market has a dual nature: while the Milan metropolitan area and the production areas of the plain are driven by demand for primary and work-related use, the four provinces with a strong tourist, lake and mountain vocation – Brescia, Como, Lecco and Sondrio – form a large integrated hub attracted by quality residential demand, second homes and hospitality-related investment.
Over 2023, 2024 and 2025, these four territories together showed a solid and uninterrupted growth path, generating 35,481.68 residential sales in 2025 (Normalised Number of Transactions - NTN). An impressive volume that alone represents 21.88% of all transactions in the entire Lombardy region (162,189.39 NTN in total): in other words, more than 1 home in 5 traded in Lombardy is in the provinces of the lakes and valleys.
1. Overall Data for the Tourist-Residential Hub (2023–2025)
The analysis of the official data shows how the sum of volumes traded in the four provinces continued to expand in 2024 too, then accelerated further in 2025.
Evolution of the Combined Market (Brescia, Como, Lecco, Sondrio)
- 2023: 32,982.78 NTN
- 2024: 33,367.32 NTN (+1.17% on 2023, against the trend of the contraction in the Milan market)
- 2025: 35,481.68 NTN (+6.34% on 2024 and +7.58% on 2023), a net increase of +2,498.90 sales over the three years.
Detail of the Four Provinces (Year 2025)
| Province | Sales 2023 | Sales 2024 | Sales 2025 | Change % 2024-2025 | Change % 2023-2025 | Share of Lomb. (2025) |
|---|---|---|---|---|---|---|
| Province of Brescia | 16,831.46 | 17,144.58 | 18,374.17 | +7.17% | +9.17% | 11.33% |
| Province of Como | 8,856.66 | 8,963.71 | 9,482.59 | +5.79% | +7.07% | 5.85% |
| Province of Lecco | 4,607.96 | 4,583.77 | 4,915.49 | +7.24% | +6.67% | 3.03% |
| Province of Sondrio | 2,686.70 | 2,675.26 | 2,709.43 | +1.28% | +0.85% | 1.67% |
| Total 4 provinces | 32,982.78 | 33,367.32 | 35,481.68 | +6.34% | +7.58% | 21.88% |
Source: official data, Italian Revenue Agency
2. The Two Sides of Demand: Tourist Micro-Apartments and Large Detached Homes
The size structure of sales in the lake and mountain areas reflects two clearly distinct but complementary demand models:
- The search for pied-à-terre and small income apartments: In ski resorts and holiday destinations (such as Aprica, Bormio, Colico or the Garda towns) demand for micro-homes (<50 sqm) and large one-bedroom flats (50–85 sqm) is supported by buyers looking for second homes or properties for short-term tourist lets.
- The search for large floor areas and prestige residences: At the same time, the scenic beauty of the shores of Lake Garda, Lake Como and the hill areas encourages the purchase of small villas, detached units and penthouses above 145 sqm.
Distribution of Sales by Floor Area in the Tourist Hub (Year 2025)
| Up to 50 sqm *With specific peaks such as the **18.58%** recorded in the Province of Sondrio.* | 3,077.75 NTN (8.67% of the total of the 4 provinces) |
| From 50 to 85 sqm (Large one-bedroom and compact two-bedroom flats) First band by number of transactions. | 11,192.02 NTN (31.54%) |
| From 85 to 115 sqm (Two-bedroom and three-bedroom flats) | 9,454.54 NTN (26.65%) |
| From 115 to 145 sqm (Large homes) | 5,275.15 NTN (14.87%) |
| Over 145 sqm (Villas, detached homes and penthouses) *Together, floor areas above 115 sqm represent **33.14%** (11,757.37 NTN) of the entire market of the four territories.* | 6,482.22 NTN (18.27%) |
Source: official data, Italian Revenue Agency
3. Territorial Focus: Garda, Lario, Iseo and the Valtellina Alps
The Lake Garda Area and the Province of Brescia
With 18,374.17 NTN in 2025, Brescia leads the hub's volumes. Alongside the vitality of the provincial capital (3,199.06 NTN), the Garda Riviera is a key driver:
- Desenzano del Garda: Confirmed as the first non-capital centre of the province with 582.27 NTN in 2025 (+4.49% on 2024).
- Ponte di Legno: In the Brescia mountain component, it stands at 155.11 NTN in 2025.
Lake Como (Como and Lecco Shores)
The Lario area (14,398.08 NTN in total in 2025) shows the push of the urban and tourist hubs:
- Cantù (646.59 NTN) and Mariano Comense (376.69 NTN) lead the Como area.
- Merate (230.95 NTN) and Colico (151.80 NTN) are reference points in the Lecco area, with Colico acting as the hinge between the lake and Valtellina.
Valtellina and Valchiavenna (Province of Sondrio)
With 2,709.43 NTN in 2025, the market shows underlying stability with strong accelerations in the ski resorts:
- Sondrio city (336.54 NTN) leads residential volumes.
- Aprica (135.54 NTN): Achieves a jump of +41.91% compared with 2023 (95.51 NTN).
- Bormio (89.58 NTN) and Chiesa in Valmalenco (95.24 NTN) record double-digit growth over the three years.
Summary Observations on the Data
- For those analysing residential and tourist supply: The four lake and mountain provinces attract more than a fifth of Lombardy's sales. The high share of both compact sizes (<50 sqm) and large floor areas (>145 sqm) shows the presence of two parallel markets: the tourist/hospitality one and that of prestige single-family homes.
- For those monitoring territorial flows: The resilience of volumes in 2024 and the strong restart in 2025 underline the resilience of markets linked to tourism and environmental well-being compared with cyclical swings in interest rates.
FAQ – Frequently Asked Questions on Lombardy Lake and Mountain Data
How many homes were sold in the 4 tourist provinces in 2025?
In 2025 a total of 35,481.68 residential sales were recorded across Brescia (18,374.17), Como (9,482.59), Lecco (4,915.49) and Sondrio (2,709.43), equal to 21.88% of the regional total.
Which is the most dynamic province by volume traded?
The Province of Brescia leads the ranking with 18,374.17 sales in 2025 (+7.17% on 2024 and +9.17% on 2023), representing on its own 11.33% of the entire Lombardy market.
What are the most sought-after floor areas in the lake and mountain areas?
The queen band is 50 to 85 sqm (31.54% of transactions), followed by the 85–115 sqm band (26.65%). Large floor areas (>145 sqm) cover as much as 18.27% of sales.
Informative article based on the official data of the Italian Revenue Agency (NTN 2023-2025).