Buying Property in Cannes (France)
The obvious answer to the above question is ‘pleasure’. Cannes is superb little town, blessed with beautiful beaches, stunning scenery, excellent restaurants, and wonderful weather. Add to this the small matter of an International Film Festival, outstanding shopping and a buzzing night-life and it is easy to see why so many tourists flock to Cannes each and every year.
Given its glamorous reputation you could be forgiven for thinking that property investment in Cannes was the preserve of those with more money than sense. While property prices in Cannes are high relative to the rest of France, they are in fact relatively low when compared to capital cities such as London, and if you do posses the capital to buy into Cannes real estate, you will discover that rather than being an expensive luxury your outlay does is in fact represent a shrewd investment.
The reason for property investment in Cannes being so lucrative is two-fold. Demand for properties in Cannes is extremely high, while supply is extremely limited with the result being that Cannes properties tend to greatly appreciate in value. Given that French planning restrictions, designed to prevent overdevelopment, are extremely stringent, this is a trend that is likely to continue in the foreseeable future.
The second reason for property investment in Cannes being so lucrative is that potential rental yields are extremely high. For the past three years, Cannes has had an average of 9.4 million visitors per year and given the fact that the town has so many annual events it is relatively protected from the kind of fluctuations that can negatively affect less diversified resorts. Furthermore, one in five visitors to Cannes are business people attending the many annual conferences and events. Like the tourists these people need accommodation, but tend to have far greater budgets at their disposal.
Cannes is also extremely well connected; it has its own airport (catering for private aircraft) at Mandelieu, and is only a 35 minute drive from Nice Côte d’Azur Airport. As such Cannes is within 3 hours travel of most European capitals, including Berlin and London
Searching for property for sale in Cannes (France)
Before choosing which area you want to search for properties for sale in Cannes, you must first decide whether you want your new home to be exclusively for the use of your family and friends, or whether you plan to make use of your property’s potentially high rental yield.
If you are simply looking for private holiday apartments for sale in Cannes, then you would be advised to concentrate your search on the following areas, ‘La Californie’, ‘La Basse Californie’, ‘Super Cannes’ and ‘Le Cannet’. These are all very attractive areas within easy walking distance of the town centre and the beaches. Most residences in this area will have a balcony or terrace, and many will have access to a communal swimming pool.
If you are looking for a Cannes apartments for sale, with a view to letting it out on a seasonal basis, then you should concentrate your search on ‘Palm Beach’, ‘Le Suquet’, and ‘La Banane’. These areas are all located within a short walking distance of the ‘Palais de Festivals’ and so are particularly attractive to business clients who wish to rent luxury property in Cannes. Properties in this area tend to be smaller and more expensive, and there is less chance of finding accommodation with a balcony, while swimming pools are even scarcer.
If you are looking for a Cannes villa for sale you should concentrate your search on ‘La Californie’, ‘La Basse Califonie’, ‘Super Cannes’ and ‘Le Cannet’. These are all extremely attractive areas and if you are looking for a villa with a super sea view in Cannes, then these areas are your best bets. You should note however, that these are amongst the most expensive properties for sale in Cannes, and indeed the South of France. On the positive side, they also command extremely lucrative rental prices during the long summers.