There is good news for the north-west’s prime property market. According to the Market Report Italia 2026 by Engel & Völkers, the premium segment in this part of the country is maintaining its leading position.
Demand is being driven by internationally appealing lake, mountain and urban destinations. Top-end values reflect demand for exclusive homes in prime locations.
Translation of an article published on idealista.it/news in May 2026.
Valle d’Aosta
In the Valle d’Aosta, Courmayeur is continuing its upward trend in the prime segment, with top prices of €20,000 per m² for high-end homes. Buyers value the area for its exclusivity, Alpine lifestyle and year-round liveability.
Breuil-Cervinia has recorded top prices of €15,000 per m², reflecting strong demand for new or refurbished homes in elevated positions, particularly those with good services and mountain views.
Piedmont
In Piedmont, the Langhe, Alba and the Roero retain their prestigious position thanks to their food-and-wine lifestyle and quality of life.
Top prices for the most exclusive properties have reached €3,000 per m², with particular interest in country houses and villas with gardens, privacy and panoramic views.
International buyers, especially Americans, see the area as an alternative to Tuscany, valuing its bucolic lifestyle without giving up high-end services.
Asti and Monferrato show similar trends, with a market that rewards refurbished homes in panoramic locations.
Top prices stand at around €3,500 per m² for prime villas and country houses, set in natural surroundings that draw interest in both winter and summer. Energy efficiency and everyday comfort remain key drivers of demand.
Lombardy
In Lombardy, Lake Como continues to lead the luxury segment, with top sales settling at around €20,000 per m² for lakefront villas and penthouses. These homes are often purchased as investments by international clients.
Buyers favour properties with terraces, gardens and panoramic views, alongside an increasing focus on privacy and construction quality.
At Lake Maggiore and Lake Orta, top prices reach €8,000 per m², supported by high-level infrastructure and international appeal, particularly among buyers from outside Europe. The development of new resorts and luxury hotel chains is increasing demand for premium property.
Milan continues to attract investors and international buyers looking for flats and penthouses in central and semi-central areas. The city is showing considerable resilience at the top end of the market, where architectural quality and a strategic location set the tone.
Top prices have reached €27,000 per m² in the historic centre and the most exclusive districts.
Provincial towns such as Legnano and Gallarate have recorded top prices of €6,500 per m² and €4,800 per m², respectively. This highlights the shift in demand away from Milan towards more residential areas, with a focus on villas, penthouses and newly built flats.
Bergamo, Brescia, Monza and the Brianza area have recorded top prices between €4,500 per m² and €5,000 per m². Their prime segments are growing, driven by property quality, location and access to good services.
Franciacorta has a more selective top-end market, with top prices of €3,000 per m², supported by homes with aesthetic appeal and potential for future value growth.
Liguria
In Liguria, Alassio and the Riviera delle Palme remain high-end markets where the luxury segment leads in terms of quality and positioning.
The area’s appeal lies in its combination of historic heritage, the privacy provided by exclusive villas and penthouses, and the presence of high-end resorts and services that appeal to international clients and high-net-worth buyers.
In 2025, top prices reached €16,000 per m², reflecting demand for homes with sea views, large terraces and high-quality finishes. International demand keeps the market active, with swift completion times for outstanding properties.
Genoa is seeing increased interest in refurbished historic homes in central districts such as Carignano, Castelletto and Albaro.
The combination of sea views, historic architecture and private outdoor space has pushed top prices to €8,000 per m². International buyers are prioritising quality and individuality over the volume of homes available.
The outlook for 2026
The outlook for 2026 points to stable values in urban areas of Lombardy and Piedmont, with slight growth in the mid-to-upper segment.
This is being supported by the return of Italian and international buyers seeking construction quality, outdoor space and a strategic location.
- Lake and mountain areas are expected to continue growing in the luxury segment, with stronger competition between foreign and Italian investors, shorter completion times and greater selectivity for outstanding properties.
- Second homes and prime properties are also expected to consolidate their role as stable investment assets.
- Infrastructure, taxation and the liveability of each area will remain decisive factors in purchasing decisions.
- The gap between top-tier stock and the secondary market is likely to become increasingly pronounced, reinforcing a polarisation in values.
