Cannes is a popular holiday destination for people from all over the world. It is a place where celebrities, businessmen and aristocrats spend their time. The city attracts tourists all year round, which makes real estate on the Côte d’Azur an excellent investment.
Real Estate on the Cote d’Azur: review of prices and market offers
Due to its unique location, Cannes boasts an almost year-round resort season. On the Côte d’Azur comes more than 11 million tourists from different countries, some of them prefer to stay in the suburbs, where accommodation is cheaper. But a large number of people rent apartments directly in Cannes. High demand for real estate from tourists contributes to the inflow of investment in this segment. Foreigners actively buy objects in order to rent them out, get high and stable income. Another advantage of buying accommodation on the Côte d’Azur is the Festival de Cannes, which brings together a huge number of participants, guests, press and fans of the stars. At this time, the cost of renting property grows several times, which is extremely beneficial for apartment owners.
The real estate market in Cannes is rich in supply. You can choose an object for every taste: comfortable apartments, luxury villas on the seashore and huge penthouses away from the city bustle.
A good option for living is accommodation on the Croisette embankment. It is located close to the sea, has a developed infrastructure. Here you can find excellent restaurants, go shopping in trendy stores, have fun in numerous nightclubs.
The real estate market in Cannes is universal. It offers options for buying a home for your own vacation or for renting out and getting high income. At the same time, profits can be made all year round thanks to the warm climate.
The popularity of the city also dictates high prices for housing. A square meter of objects on the first coast line costs an average of 10-20 thousand euros. A little cheaper you can find housing in the distance from the sea by 300-500 meters. The cost of a square meter here is 5-6 thousand euros. In the suburbs the prices are even lower. In settlements Mougins or Mandelieu, which are located 5-10 km from Cannes, you can buy a villa for 1.5 million euros.
The demand in the Cote d’Azur elite real estate market does not lose its positions and is always high. Celebrities and rich people are actively buying villas in the central areas and by the sea.
The most prestigious area is the Californie quarter, which is also called the “Hills of millionaires. There are luxurious houses here, the view from which overlooks the sea and picturesque green hills. The cost of villas in this part of the city starts from 3 million euros.