 "View of Menaggio from Lake Como")
 "Menaggio Harbour")
 "CGI View 1")
 "CGI View 2")
 "CGI View 3")
 "CGI View 4")
 "View from Property Location")
 "View from Property Location")
 "View from Property Location")
Introduction
Exclusive and unique, contemporary luxury Villas for sale in Menaggio, Lake Como, Italy
7 world-class single level Villas, built into the hillside - from €583,920 to €1,200,720
>> Free furniture pack worth €10,000 <<
The development is scheduled to be completed by March 2009, with all communal areas by May 2009.
Designed by renowned architect Arturo Montanelli - Excellent Potential for capital growth
Stunning Location with views of Lake Como with Bellagio ‘framed’ against the mountains
Secure parking, luxury kitchen and communal pool with views of the lake
The “Tailormade Investment Village” in Menaggio, Lake Como is a premier development on the lake. The stunning design by the renowned architect Arturo Montanelli and prime position on the Menaggio hillside ensures these 7 single level villas will stand out as the best luxury properties on the Golden Triangle of Lake Como, Italy.
Combining spacious living areas and a specialist design built into the hillside these luxury villas will be one of the most sought after addresses in the area.
For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783)
Investment
7 Best Invest Says
"We know from selling our apartments across the lake in Varenna that the golden triangle of Lake Como is one of the most outstanding locations in Europe. A visit to appreciate it outstanding beauty is a must. With demand increasing and the availability of suitable luxury property always limited on the Lake, this is an excellent opportunity to acquire a world-class villa secured at wholesale prices.
We recommend these villas are held for at least 5 years after completion.”
Return on Investment Table
Rule of 72
- The "Rule of 72" is a rule of thumb that can help investors compute when their money will double at a given compound interest rate.
- It is called the rule of 72 because at 10% compound interest, money will double every 7.2 years, and at 7.2% money will double every 10 years.
- To find the number of years required to double your money at a given compound interest rate, you just divide the interest rate into 72.
- For example, if you want to know how long it will take to double your money at eight percent compound interest, divide 8 into 72 which gives 9 – hence at 8% compound interest money will double in 9 years.
- You can also run it backwards: if you want to double your money in six years, just divide 6 into 72 to find that it will require a compound interest rate of about 12%.
- The ready-reckoner below gives the number of years money will double at a given compound interest rate using the rule of 72.
| Compound interest Rate | Number of Years money will double |
| 1 | 72 |
| 2 | 36 |
| 3 | 24 |
| 3.6 | 20 |
| 4 | 18 |
| 5 | 14.4 |
| 6 | 12 |
| 7 | 10.29 |
| 7.2 | 10 |
| 8 | 9 |
| 9 | 8 |
| 10 | 7.2 |
| 14.4 | 5 |
| 15 | 4.8 |
| 20 | 3.6 |
| 25 | 2.88 |
| 30 | 2.4 |
Excellent Rental Potential
'The Golden Triangle' is in an excellent position on Lake Como and a very popular location for tourists. The area receives more requests for accommodation per annum, than the number of beds available. This is naturally a very healthy situation for an investor, with little scope for further development of property in the area.
Please see table below: - Currency Converter Below
| Low Season | Mid Season | High Season | Annual NET rental income | |
| Number of weeks | 5 | 16 | 8 | |
| Apartment 2 rooms 4 guests | €1200 pw | €1600 pw | €2000 pw | €47,600 |
| Apartment 2 rooms 6 guests | €1300 pw | €1700 pw | €2100 pw | €50,500 |
| Apartment 3 rooms 6 guests | €1300 pw | €2000 pw | €2600 pw | €59,300 |
| Apartment 3 rooms 8 guests | €1400 pw | €2100 pw | €2,700 pw | €62,200 |
-
Low Season November to April (26 weeks)
-
Mid Season May to June - September to October (17 weeks)
-
High Season July to August (9 weeks)
-
pw - Rental per week
Cleaning is paid for by guests.
Maintenance cost is 1200 Euro per apartment.
Marketing contribution of 550 Euro per year.
The above mentioned figures are net to you, therefore the 25% agency fee has already been deducted.
For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).
Features
Development
7 Best Invest are offering 7 world-class villas all with spectacular views of Lake Como. Available is one 2 bedroom 1 bathroom villa of 81m2 living space with secure parking, five 2 bedroom 2 bathroom villas of 139 m2 with secure parking, and a 3 bedroom 4 bathroom villa of 180 m2 – which will be one of the most sought after properties in Menaggio. All villas have solariums and green terraced areas of substantial proportions. The development is situated on a hillside on a street overlooking Menaggio. The development is scheduled to be completed by March 2009, with all communal areas by May 2009.
Specification
The villas are arranged over five levels rising up the hillside. The structure is built from concrete with reinforced concrete and steel foundations with the finish of the facade in local stone and expansive windows which let in the natural light, however, as well as being secure they have automatic darkening for solar protection in high Summer. Each villa includes fully fitted bathrooms and gas central heating, but includes environmentally friendly designs that utilise the solar heat through the fully draining grass covered roofs and by the fact that they are built into the hillside. Luxury fitted kitchens are provided, including white goods – many Italian properties do not come with fitted kitchens. Tiled ceramic floors will be fitted throughout with parquet in selected areas. Each villa comes with a secure garage and there is a communal pool located at the entrance of the development. The secure garage is in the basement level and access to each level is by a sophisticated lift.
Location
Located, in our opinion, on the best part of Lake Como. On a hillside in the village of Varenna, overlooking the town of Bellagio. The villas are located on the outskirts of Menaggio. Located on the best part of Lake Como overlooking the town of Bellagio across the lake from Varenna – this is the ‘Golden Triangle’ of Lake Como.
The villas sit on a hillside with unobstructed views of the Lake, 5 minutes drive by car from the shops, restaurants and cafes of Menaggio. Lake Lugano is a 20 minute drive away and the oldest golf club in Italy, Menaggio and Cadenabbia Golf Club, sits minutes away from the Villas with its spectacular views and undulating course.
Milan is an hour 30 minutes drive away with all its worldly pleasures and amazing shopping. Theatre and cinema flourish in this fashionable city, it's lifestyle that counts. Skiing is only 40 minutes away, where four pistes can be found, for the real enthusiast St. Moritz is only 1 hour 30 minutes away.
Getting there:
Milan’s airports are served by most major airlines flying from all the major hubs. There are also plenty of budget airline flights from Stanstead, Luton, Manchester and other UK airports which fly to both of Milan’s airports.
Helpful Links
For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).
About the Italian Architect, Arturo Montanelli:
Born in Milan 1962, Arturo read Civil Engineering at the renowned Politecnico di Milano and graduated in 1987. He now is a professor at that same university working closely with both graduates and undergraduates. He travels extensively participating in international architecture conferences and is considered a master in his field of integrating striking architecture within natural landscapes.
Upon leaving university Arturo worked predominantly in rural planning. While his family on his father's side were all engineers, that of his mother were all involved in planning and architecture; their first catalogue was in 1850! He is driven by energy and the ecological impact of architecture upon an area. His projects, whether they are residential or commercial, are researched in depth at the concept stage to ensure they will work harmoniously with the natural habitat. The materials used play an essential role be it natural stone or untreated wood. There is continuity in the materials both inside and out to bring the building closer to nature.
Arturo established his own company, ARDEA, some fifteen years ago and it is based in Lecco on Lake Como within striking distance of Milan. Recent works include a selection of stunning modern homes in the Lombardy region, a baroque library in a deconsecrated church in Genova, an extensive list of commercial projects both at home and abroad for example The Gianfranco Ferre Spa in Milan or the outstanding new restaurant in Tokyo of renowned Italian master chef Enrico Derflingher called Officina de Enrico. (Enrico Derflingher has been personal chef to Prince Charles and the late Princess Diana, George Bush Senior, chef at the Eden Hotel in Rome, Palace Hotel in St Moritz and eight time winner of the Accolade World's Best Chef).
Arturo has designed for himself an impressive home of stone and glass in Varenna on Lake Como which has been featured in many magazines and books. He himself claims it was so difficult to remain objective that it is in fact not his favourite project! The project he enjoyed the most is the Villa dei Ciliegi in Besana Brianza just outside Milan. This villa is 1200 m2 in size and is luminous owing to the sheer volume of glass used. Light is the defining focus for Arturo and he often begins a project by photographing the entire area in black and white to fully understand the interplay between light and shadow and how they in turn interact with the proposed plot.
At present Arturo is working (among other projects) on an abandoned village in Pianello not far from Menaggio on Lake Como. In the past there was much emigration following the decline of agriculture in the area and so many of the small pastoral houses in the little villages upon the hillsides close to the vines and fields were simply abandoned. These were never principal residences but used at key times during the agricultural year. When Arturo saw the site, he employed a researcher to seek out the owners and some four months later had the names of forty-two owners! He completed the purchase some years ago and has set about reconstructing it maintaining many original characteristics while incorporating his own special style of natural materials and the use of light.
For a better understanding of his work, one can visit his Web site at www.arturomontanelli.com
For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).
Finance
Price List & Villa Types:
Click Here to Download PDF Price List -- - Currency Converter Below
** Please note in Italy 10% VAT is payable on the purchase price
(also allow 2% to 3% for other costs)
| Villa | Type | Level | m2 | Solarium m2 | Green terrace m2 | Price Euro ** | 30% Deposit Euro ** |
| A1 | 2 Bed 2 Bath | 1 | 139.2 | 76.8 | 170.4 | €930,640 | €279,192 |
| A2 | 2 Bed 2 Bath | 1 | 139.2 | 77.4 | 177.2 | €931,620 | €279,486 |
| B1 | 2 Bed 2 Bath | 2 | 139.2 | 76.8 | 97.05 | €937,225 | €281,168 |
| B2 | 2 Bed 2 Bath | 2 | 139.2 | 77.4 | 82.3 | €936,050 | €280,815 |
| C1 | 2 Bed 2 Bath | 3 | 139.2 | 67.6 | 95.1 | €931,470 | €279,441 |
| C2 | 2 Bed 1 Bath | 3 | 81.75 | 58.4 | 78.7 | €583,920 | €175,176 |
| D | 3 Bed 4 Bath | 4 | 179.5 | 64.6 | 155.2 | €1,200,720 | €360,216 |
Currency Converter
Enter the amount in the first box below, then select the currency to convert from then the currency to convert to then click the convert button.
Italian Mortgages
Finance is available, subject to status, through Italian banks secured on your property. Below is a table with examples of terms offered recently to clients after carrying out an official bank valuation, please see table below:
| Repayment term | Interest rate | Monthly cost per 1,000 Euros |
| Variable Rate | ||
| 10 | Euribor 3 months 3.864 + 0.80 | 10.44 |
| 15 | Euribor 3 months 3.864 + 1.00 | 7.84 |
| 20 | Euribor 3 months 3.864 + 1.00 | 6.52 |
| 25 | Euribor 3 months 3.864 + 1.10 | 5.82 |
| Fixed | ||
| 10 | 5.45% | 10.83 |
| 15 | 5.55% | 8.20 |
| 20 | 5.65% | 6.96 |
| 25 | 5.75% | 6.29 |
We recommend you use Banca San Paolo or BNL, a local bank who have supplied mortgages for our current clients. Alternatively UK based Conti Financial Services can provide and advise you of mortgage products in Italy. Available Loan to Value: Normally 70% subject to status. Note this is typically the purchase price, not the actual market value.
Note that there are no Buy to Let or self-certifying mortgages in Italy. It is similar to France, in that no rental income is assessed in the application. The bank looks at only net monthly income, to see if it is three times the mortgage payment. You will typically need 3 months' bank statements, 3 months’ pay slips or other proof if self-employed and the latest annual tax documents, such as a P60 for UK tax payers.
For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).
How Do I Buy ?
Introduction
We are aware that purchasing property can often be a daunting and painstaking experience. At 7 Best invest we operate a client relations team that can give you one-to-one personalised service that ensures your purchasing experience is an enjoyable one. We can give you as much or as little assistance as you require. We operate a hassle free policy which allows you to feel at ease and digest all the information in your own time before making any decisions.
We know our products are some of the best investments in the world. We are simply here to advise you which one is best suited to your needs.
Step 1: Enquire for more information on our products
Our client relations team will respond to your enquiry by sending you all the relevant documentation you have requested, including brochures, price listings and development information.
Step 2: Request Viewing
Our client relation team will take care of your travel and accommodation needs. We can arrange your flights for you and 7 Best Invest will pay for your accommodation for a night in a 4 star hotel in Varenna.
Our operations director Sally-Ann will personally meet you from the airport and take you to your hotel. Once you have settled Sally-Ann will then take you to the development site for your viewing where you will be given as much time as you need to look over our properties and the local areas.
We can at this time arrange for meetings with our lettings agent and any of the local banks or solicitors that will help you with your purchase.
Step 3: Agree to Purchase
At this point our client relations team will send you the relevant forms for your signature and a 30% deposit will be put down to ensure the sale. Once the contracts have exchanged within 28 days we can then refund any viewing trip cost that you have incurred, for example flight and excursion costs.
Step 4: Completion
Our operations director will meet you in person on location for the completion. At this stage you will meet with the notary and the local bank for sign off for the mortgage. All of the final payments will be made, for example notary fees, IVA costs and the balance for the property. Once all the commercials have been agreed, the sale will be completed. Once again Sally-Annwill be with you personally to ensure that everything goes as smooth as possible.
For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783)About Lake Como & Menaggio
Lake Como (Lago di Como in Italian, also known as Lario; Lach de Comm in Insubric; Latin: Larius Lacus) is a lake of glacial origin in Lombardy, Italy. It has an area of 146km˛, making it the third largest lake in Italy, after Lake Garda and Lake Maggiore. At over 400m deep it is one of the deepest lakes in Europe and the bottom of the lake is more than 200m below sea-level.
Lake Como is in Lombardy, 45km North of Milan and in the Province of Como. Como is at the tip of the southwestern branch of this lake. Como is only a few miles from the Swiss border and 20 minutes from Lugano.
Lake Como is 50km long and west of Menaggio is where the lake splits in two. The mountains around the lake are 2000m high and the lake up to 1350 feet deep, making it one of the deepest lakes in Europe.
Menaggio The pretty and tidy little lakeside town of Menaggio is about half way up the western side of Lake Como, accessible by car from Como at the south end of the lake, or Lugano in Switzerland, but also by ferry from Bellagio and Varenna.
Its central position, makes Menaggio an important and lively town. The town consists in a centre and three hamlets; Croce, Loveno and Nobiallo and has a total population of about 3,200.
In its historical centre there are various interesting monuments which recall Menaggio's importance through the ages. In the 18th century it was discovered by the first tourists, and the grand hotels and luxurious villas date from then.
The splendid lake side promenade with its lovely flowerbeds, offers a unique view of the central lake.
Helpful Links:
Menaggio - Official Web site
ItalianVisits.com
Menaggio - Information for visitors and English speaking locals
For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783)
Google Map of the area - Lake Como - Menaggio Italy :
(Further maps of area below.)
Use the +/- symbols on map to zoom in/out - Select 'satellite' to view real images - Select 'hybrid' to see satellite view overlaid with map view. Hold left mouse button down on map and drag map in any direction.
Maps of Varenna - Menaggio and Pianello - Lake Como
Frequently Asked Questions
Q: Freehold – how does this work in Italy?
A: All our villas are freehold. This means the buyer owns their property and share of land the building is built upon. Buyers will be granted full title.
Q: What is the target completion date of the whole project?
A: March 2009 for the villas and May 2009 for entire site including pool.
Q: What is included in the Interiors?
A: All villas will be completed to the highest finishes. Fully fitted bathrooms and kitchens with white goods are included, along with all light fittings. A mixture of ceramic tile and parquet flooring is also included.
Q: Are there swimming pools?
A: There is one swimming pool with stunning views.
Q: What security is planned for the project?
A: The development is not gated as this is not required on Lake Como. Every villa is fully secure with modern secure locking doors and windows secure parking in the basement and secure lift access.
Q: What are the likely property (local) council taxes the owner would incur?
A: Compared to the UK, annual property taxes are lower; like the UK the figure is geared to the size of the property. Budget a gross amount of approx. €1200 to €1500 per annum. As soon as the property is finished and an ICI tax assessment completed we will be able to confirm actual costs.
Q: What are the proposed service charges?
A: These will be set after completion. No firm prices have been received, however we estimate the total costs to be circa €150/month for the villas this would cover gardening, pool cleaning and general maintenance.
Q: Where exactly is the Development?
A: 5 minutes from the centre of Menaggio’s waterfront on the outskirts of the town. It is set in an elevated position and has the advantage of breathtaking views over the Lake and valley.
Q: What is the flight time from the UK?
A: London is just over 1 hour 30 minutes by air from Milan’s airports.
Q: Who is the builder?
A: The development team have extensive experience of developing in Lake Como and around the region, and have appointed the world renowned Arturo Montanelli as their architect and Project Manager. The Developers own team of professionals will oversee the work, and as always 7 Best Invest track the progress of all our developments.
Q: What is the method of construction?
A: The main structure is a concrete and steel reinforced frame with stone covered walls to exterior. All internal walls are formed using block work and finishing plaster. The external facade is finished with a mix of stone and high quality glass (5cm) for the expansive windows. All construction detail is carried out to the highest standard and is inspected throughout the build process by independent surveyors and structural architects.
Q: Can I visit the site during construction?
A: Yes, site visits can be arranged so that you can be satisfied as to the construction of the building.
Q: Who will maintain the building and grounds?
A: The maintenance managing agent will be responsible for ensuring the building and gardens are thoroughly maintained.
Q: Can I purchase the property with a mortgage?
A: Yes, our Client Support Unit and Operations Director in Lake Como can assist with this. Typical loan to value is 70%.
Q: Can you recommend a lawyer to assist with the buying process and what do they charge?
A: Yes, again our Client Support Unit and Operations Director in Lake Como can assist with this. We recommend two Italian Avvocato’s who practice in the UK and are regulated by the English Law Society. They have acted for many of our client’s on Lake over the last two years. You should budget for £500 to £750 depending on how involved you want them to be.
7 Best Invest recommend the most cost effective approach is to request they give you peace of mind that the Preliminary Sales Contract is suitable for the purchase and that they verify our due diligence documents such as proof of title and correct planning permission.
The completion of the purchase is undertaken by a state appointed notary and you should budget 2.5% to 3.5% of the purchase price for notary fees and other completion costs. 10% tax or IVA (property tax) is also payable on the net purchase price. Our Operations Director and our Client Support Unit are on hand to guide through this process.
Q: What about Income Tax and Capital Gains Tax ?
A: Income from property forms part of an individual’s income in Italy and is based on cadastral income. The maintenance expenses of a rented property are permitted as a deduction at a flat rate of 15% of gross rental income for tax purposes. The basic income tax as at March 2008 is 23% for up to €15,000 taxable income.
Gains from the sale of property held for more than five years are not taxable. Gains from the sale of property held for less than five years are taxed as income. Capital gains are computed as selling price less acquisition costs and related expenses.
Q: How do I purchase?
A: As you will then be a 7 Best Invest member we will pay for one night’s accommodation for you and our Operations Director on Lake Como, will arrange transfers and show you around the property. You have 5 days after the viewing trip to let us know if you wish to proceed.
If you wish to proceed our Client Support Unit will ensure you have all the documents and information to exchange contracts within 28 days whereupon the balance of the 30% deposit is due, we do insist that before you reserve you ensure that you are able to meet this 28 day deadline for paying the 30% deposit. The final balance is due in March 2009 and you may choose to finance this with a mortgage.
Our Client Support Unit and Operations Director will assist with this. If you view the property within 28 days of your initial enquiry, we will refund the full cost of your flights when you have exchanged contracts and paid the 30% deposit.
For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783)
Menaggio Brochure
Document is in Adobe Reader - PDF format. If you don't have this on your computer you can download it here.
Enquiry Form
