Recent developments in the real estate market of Lake Garda indicate a significant decline in home purchases by German clients, attributed to the economic crisis affecting the middle class in Germany. Local real estate agencies report a decrease in transactions, particularly for those with a budget under 500,000 euros. However, the luxury market continues to thrive, attracting wealthier buyers and foreign investors from countries such as Russia, Poland, and Belgium.
In locations like Sirmione and Valtenesi, German interest has plummeted, with sales dropping from 20 out of 100 to just 5 in Toscolano Maderno. In contrast to this trend, Gargnano has maintained a good number of German transactions, with its share increasing from 22% in 2021 to 33% in 2024. Despite the downturn in overall transactions, industry experts like Cristiano Manzini and Lorenzo Saracco note that German clients have not completely abandoned the Lake Garda market; rather, they are shifting their preferences towards more luxurious and higher-quality properties.
