WHY SHOULD A MILANESE CONSIDER BUYING A HOME IN LUGANO?
09/12/2024
In recent years, more and more Milanesi are considering purchasing a home in Lugano.
The geographical proximity, tax advantages, and high quality of life make Lugano an attractive option for residents of Milan, a bustling and highly taxed city.
But what are the real benefits of buying a home in this beautiful Swiss city? Here are some of the main reasons:
1. Tax Advantages: The Decisive Factor
One of the biggest incentives driving many Milanesi to consider Lugano is undoubtedly the Swiss tax regime, which is much more favorable than Italy's. In Switzerland — and particularly in the canton of Ticino — income tax rates are significantly lower than in Italy.
In many cases, overall taxation can drop between 20% and 30%, depending on income and municipality of residence. Moreover, Switzerland’s decentralized tax system allows federal, cantonal, and municipal taxes, enabling many areas of Lugano to offer particularly favorable conditions compared to other parts of Switzerland and certainly compared to Italy.
In Italy, property taxes (including IMU and other real estate taxes) can become particularly burdensome, especially for those owning multiple properties. While Switzerland also has a wealth tax, its rates are far lower, ranging from 0.1% to 0.9%, depending on the wealth’s value and the canton.
For new foreign residents, there’s an additional benefit: the lump-sum tax system. This regime allows taxable income to be negotiated not based on actual earnings but on lifestyle, making it particularly attractive for entrepreneurs, professionals, and high-net-worth individuals. This system enables new residents to pay significantly lower taxes than in Italy, making Lugano an irresistible option.
2. Proximity to Milan: The Best of Both Worlds
Lugano is only an hour away from Milan by train or car, meaning purchasing a home here doesn’t mean giving up the opportunities Milan offers in terms of work, culture, and entertainment.
On the contrary, many professionals find a peaceful retreat in Lugano while maintaining their activities in Italy's economic capital.
This proximity is especially advantageous for those working in dynamic sectors like finance, fashion, and design. Traveling between the two cities is easy and quick, enabling a higher quality of life without losing professional connections.
3. Quality of Life: Less Stress, More Well-being
Lugano offers a very different environment compared to Milan. While it is a cosmopolitan and vibrant city, it is surrounded by mountains and situated by a lake, ensuring a more relaxed pace of life and much cleaner air.
Opportunities to enjoy nature are everywhere, from Lake Lugano to the Ticino Alps. The possibilities for sports and outdoor relaxation are countless.
Additionally, Lugano is known for its high-quality healthcare system, safety, and strong sense of community. Many Milanese find Lugano an ideal place to raise a family, thanks to excellent international schools and top-tier services.
4. Real Estate Investment Opportunities
Lugano’s real estate market is another reason why many Milanese are increasingly drawn to this city. While property prices are not cheap, they are much more stable compared to Milan.
Thanks to Switzerland’s economic stability, purchasing property in Lugano represents a safe long-term investment. Buying a property here not only provides access to favorable tax conditions but also secures an investment in one of Europe’s safest and most stable regions.
Whether as a second home or a permanent residence, Lugano’s property values tend to remain high over time.
5. Italian Influence and International Community
Another advantage of Lugano is its strong connection with Italy. Though located in Switzerland, Lugano is part of Italian-speaking Switzerland, making the move even easier for Milanese.
The language, culture, and cuisine are familiar, and the proximity to the border simplifies travel and ties with Italy. Lugano is also home to numerous international communities, thanks to the presence of major financial institutions, universities, and multinational companies.
For a Milanese, this means access to a global network of contacts and new professional opportunities.
Conclusion
In summary, buying a home in Lugano is a strategic move for Milanesi looking to optimize their tax situation, improve their quality of life, and invest in a solid real estate market.
The proximity to Milan, tax advantages, and stunning natural surroundings make Lugano the perfect destination for enjoying the best of both worlds.
For more information and to contact us about purchasing a home, visit our website: https://www.mdagroup-re.ch/en/ .
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