The coastal town of Cannes is often synonymous with glamour and luxury. It is much more than just a sunny holiday destination on the Côte d'Azur. It's also a dynamic luxury property market that attracts buyers from all over the world. In this article, we'll explore this exclusive Cannes property market and why so many people are succumbing to its charms.
Cannes: A Dream Destination for Property Investors
Cannes has long been a favourite with celebrities, entrepreneurs and art lovers. It is famous for its Cannes Film Festival, its designer boutiques, its Michelin-starred restaurants and its coastline, the Croisette. This aura of prestige has created a thriving luxury property market. The Palais des Congrès hosts more than 50 international events every year, earning the city the distinction of being named "World's Best Destination for Festivals and Events" by the Worlds Travel Awards 2022, as well as the European title for 3 consecutive years. Every year, thousands of visitors flock to Cannes for its summer excitement and art of living, making the city even more attractive.
Unique properties on the Mediterranean coast
Luxury real estate in Cannes is among the most sought-after in the world. From sumptuous hilltop villas with panoramic sea views to elegant beachfront flats, Cannes has it all. Demand is growing for exceptional properties with outstanding features. For several years now, the town has seen a sustained volume of sales and a constantly rising price per m2, with +25% over the last 5 years. This trend continues in the rental market, with +32% over the last 5 years, with prices per m2 well above the median for large surface areas. Many people are being tempted to rent luxury properties on a long-term basis, giving tenants time to become residents. This can be explained by the attractiveness to investors, particularly of large surface areas, which can prove highly profitable as an investment.
A Dynamic International Market
Cannes attracts buyers from all over the world, from international investors to Hollywood celebrities. This cultural melting pot makes the city's property market particularly dynamic. International buyers are attracted by Cannes' exclusivity, rich cultural life and Mediterranean climate.
The most sought-after districts
Cannes has several popular districts, each with its own charm. La Croisette is famous for its luxury hotels and designer boutiques. The historic Suquet district offers an authentic atmosphere, while the hills of Super Cannes offer privacy and breathtaking views.
Investment opportunities
The luxury property market in Cannes offers numerous investment opportunities. Properties continue to increase in value, and seasonal rentals can generate excellent returns. What's more, France's tax advantages for foreign investors make it an attractive choice.
Cannes, with its bewitching charm and exceptional luxury properties, remains a jewel in the international property market. Whether you are looking to invest in a dream second home or diversify your portfolio, Cannes offers unique opportunities. The Cannes luxury property market is more than just an investment; it's a way of life.
Author : Global Luxury Properties
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