Italy’s richest residents in Lombardy

With Milan the leading major city.

Seven out of the first ten of Italy’s over 8,000 comuni with the richest residents are in Lombardy, according to authoritative financial and economic daily Il Sole 24 Ore.

Leading the pack, according to the paper’s annual survey of income data, is Portofino in the province of Genova (Liguria), with an average personal taxable income of over €50,000, but hard on its heels come Basiglio and Cusago in the province of Milan (Lombardy) in places 2 and 3, Torre d’Isola (Pavia) and Campione d’Italia (Como) at 4 and 5, Segrate and Arese (Milan) at 8 and 9 and Vedano (Monza e Brianza) at position 10, all of which are in Lombardy.

 

Portofino is Italy's richest commune
Portofino is Italy's richest commune

Among the major cities, Milan itself clocks in at 15, with an average income of just under €30,000, well ahead of its closest rival among the urban metropolis group, Rome, at position 95, average income around €25,500.

Data based on income tax declarations, warns the newspaper, can cause spectacular jumps in the position of smaller comuni when one or two super-rich taxpayers move their residence into or out of the town or village. In larger towns or cities, shifts in the position in the “championship” tend to be slower, as the average income per head of population is evened out by the larger numbers.

This will probably account for Portofino’s jump from last year’s 10th place to the top of the list. It is, in fact, very clear that the top places in the list are mostly occupied by small comuni, with Milan very much the positive exception.

Basiglio, right outside Milan and the location of Silvio Berlusconi’s “Milano 3” residential condo, has this year slipped from first place, not so much because of a slight drop in average income, but more because of Portofino’s great leap forward.

Paradoxically, the two poorest comuni are also in Lombardy: Val Rezzo and Cavargna – both in Como province – at around €6,500 average personal taxable income.

The full details of the survey are published on Il Sole 24 Ore website, where you can sort the data by comune or region, and consult the average personal incomes as well as the variation over last year. The figures are based on the income tax declarations made in 2014, which refer to the income generated in 2013.