🔷 Up, Down, Como

🔹 Hello, Lake Como.

If you spent the last few weeks praying for milder weather, somebody was listening: tomorrow’s high will be 22°C, and there is no serious heat in sight for the next ten days.

Apparently, this week is about things going up and down.

Natural diamond prices are down more than 50% since 2022, while the S&P 500 reached another all-time high earlier this month.

Closer to home, tourism is still going up. Italy is breaking records this summer, and Como added 1,149 new accommodation structures last year.

Cycling, however, is going the other way. Como will ban it on 30 city-centre streets after the mayor was hit by an e-bike. True story.

P.S. Quick shout-out to Alex Rasmussen, who is joining Como 1907 as its new CRO!

Let’s get into it.

-Simona

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What's Happening:

A LinkedIn article on Sicily and housing hotspots such as Barcelona asks whether tourism restored an unused property or removed a home locals could have rented or bought. New Lombardia data shows Como’s accommodation supply grew sharply in 2025.

Facts:

What does it mean for us?

Italy is regulating who can run short-term rentals, while Spain and France are doing the opposite - capping whether the rentals can exist at all.

Right now, one or two apartments keep you outside "business" territory. Three or more, and the tax office charges you more.

That's the rule that was implemented in 2026. Whether it stays that way depends on a question nobody's answered yet: were Como's 1,149 additional short-term listings last year restored properties that had been sitting empty, or apartments that had long-term tenants? If it's mostly the latter, don't be surprised if Italy starts looking more like Spain.

There's a separate risk worth flagging, too. Americans account for 48% of local tax-free spending - a lot of Como's short-let market rests on US travel demand staying strong.

✈️ Jet Week. Flexjet founder Kenn Ricci booked Villa d’Este for his 70th: 200 guests, 500+ staff, and Laura Pausini, Elton John, Mariah Carey, John Legend.

🏖️ Summer Records. Italy’s summer tourism is heading for new records. Good for business, less good for August traffic.

🚲 Bike Ban. Como’s bike ban reached international press after Mayor Rapinese was hit by an e-bike.

📈 €7.3bn In. Italy attracted €7.3bn in real estate investment in the first half of 2026.

🏨 Six Senses Money. Chris Hohn’s TCI has $636m exposure to four Statuto luxury hotels, including $74m tied to Six Senses Lake Como.

👔 New CRO. Como 1907 appointed Alex Rasmussen as CRO. He joins from Ferrari, after AC Milan and FC Copenhagen.

🏠 40-Year Mortgage. First-home mortgages are stretching up to 40 years, also beyond the usual under-36 story.

🧵 Craft Luxury. Condé Nast Traveler looked at Como’s silk, furniture, workshops and makers. Finally, the lake beyond hotel pools.

🏛️ Palazzo Sale. Robb Report featured Palazzo Odescalchi: 17th-century Como, near the Duomo and the lake, now talking to global buyers.

💍 Alesso Wedding. Vogue Scandinavia covered DJ Alesso and Erin Cummins’s Lake Como wedding. Another week, another global wedding story.

Friday, August 21

LAKECOMO MUSIC FESTIVAL · 🎼 Syrinx: Mario Carbotta & Floraleda Sacchi · 11:00 · Villa Bernasconi, Cernobbio

EVENING MARKET · 🛍️ Lakefront Evening Street Market · from 17:00 · Menaggio lakeshore promenade

LAKECOMO MUSIC FESTIVAL · 🎻 Trio Meraki · 18:30 · Villa Carlotta, Tremezzina

OPEN-AIR CINEMA · 🎬 Il Bene Comune · 21:00 · Area Feste Sant’Abbondio, Como

Saturday, August 22

ROMAN HERITAGE · 🏺 Roman Baths of Como Opening · 10:00 to 18:00 · Viale Lecco 9, Como

LOCAL FESTIVAL · 🍽️ 61st Missoltino Fish Festival · from 19:00 · Parco Comunale, Mezzegra, Tremezzina

LAKESIDE FESTA · 🎶 Festa Vivi Nobiallo · from 19:00 · Public Park of Nobiallo, Menaggio

SOCIAL DANCE · 💃 Dancing Under the Stars: Ballroom Night · 20:30 · Piazza Martinelli, Como

GUITAR FESTIVAL · 🎸 International Guitar Festival · 21:00 · Piazza XI Febbraio, Lenno

DUOMO NIGHT · ⛪ Duomo by Night: Voci e Volte · 21:00 to 23:00 · Duomo di Como

Sunday, August 23

WELLNESS MORNING · 🧘 Hatha Yoga at Villa del Grumello · 09:15 · Cedro del Grumello, Como

ART TOUR · 🖼️ Turner and the Romantic Landscape · 11:00 · Pinacoteca Civica, Como

MUSIC MATINÉE · 🎷 Alice Piombino & Lorenzo Livraghi · 11:00 · Giardino della Serra, Villa del Grumello, Como

ART WORKSHOP · 🎨 Painting en Plein Air · 15:30 · Villa Carlotta, Tremezzina

LOCAL FESTIVAL · 🍽️ 61st Missoltino Fish Festival · from 19:00 · Parco Comunale, Mezzegra, Tremezzina

OPEN-AIR CINEMA · 🎬 Nouvelle Vague · 21:00 · Parco di Villa del Grumello, Como

Monday, August 24

FINAL DAY EXHIBITION · 🏛️ Riga Art Nouveau at Villa Bernasconi · final day; 10:00 to 18:00 · Villa Bernasconi, Cernobbio

GUIDED VILLA TOUR · 🖼️ Greetings from Villa Carlotta · 11:00 · Villa Carlotta, TremezzinaMonday, August 24

HISTORIC PARK · 🌳 Villa del Grumello Historic Park · 09:00 to 17:00 · Villa del Grumello, Como

FILM MUSIC CONCERT · 🎼 Alto Lario Music Festival: Morricone e Dintorni · 20:45 · Chiostro Santa Maria delle Grazie, Gravedona ed Uniti

Tuesday, August 25

GUITAR FESTIVAL · 🎸 España, Armenia e il Sud · 21:00 · Villa Govone, Menaggio

FLOATING STAGE · 🎤 Happy Chorus Gospel Choir · 21:00 · Palazzo Gallio / Mazzagallo Beach, Gravedona ed Uniti

OPEN-AIR CINEMA · 🎬 Un semplice incidente · 21:00 · Associazione Asylum, Via Colonna 7, Como

Wednesday, August 26

GUITAR FESTIVAL · 🎸 Suggestioni, Idiomi e Sogni · 18:00 · Passer Bistrot, Menaggio

GUITAR FESTIVAL · 🎸 Il Conservatorio in Concerto · 21:00 · Piazzale Martiri delle Foibe, Menaggio

FLOATING STAGE · 🎺 The Wind Orchestra · 21:00 · Palazzo Gallio / Mazzagallo Beach, Gravedona ed Uniti

OPEN-AIR CINEMA · 🎬 Cinque secondi · 21:00 · Associazione Asylum, Via Colonna 7, Como