Between its prestigious location, international interest, and stunning backdrop, it’s no wonder that property in Cannes is so popular with real estate investors and property buyers. Known globally as a premiere luxury destination which hosts uber-popular annual film and yachting festivals, Cannes has a vibrant cultural and social scene. It’s also where you’ll find beautiful golden beaches and a true French village feel, especially once the crowds have gone home and only residents remain during the autumn and winter months.
In this guide, we’ll take a look at why this impressive city has so much appeal to affluent buyers, including A-list celebrities and wealthy property investors.
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How Does Cannes’ Global Prestige Enhance Property Value?
Cannes can be considered a sought-after destination that doubles as a luxury brand. Its international recognition helps it maintain high property values that attract a global clientele. Cannes is also perfectly situated near other desirable French Riviera towns and cities, including Monaco, Nice, and Saint-Tropez.
The city’s high-end homes include deluxe apartments, waterfront villas, and grand estates, suiting all types of buyers. Moreover, the location’s infrastructure leaves residents wanting for nothing, as transportation networks, designer shopping, gourmet restaurants, and other luxury amenities are always available.
What Makes the Cannes Lifestyle Uniquely Appealing?
Cannes seems to have the best of both worlds: glamorous, world-renowned events teeming with A-listers, complemented by a serene off-season when locals can have the resort town all to themselves. That’s not all that makes the Cannes lifestyle so attractive, either:
- Beaches: The Cannes coastline is picturesque, and the French Riviera’s many beaches offer everything from sunbathing to water sports.
- Climate: The Mediterranean climate means mild winters, hot summers, and 300 days of sunshine a year.
- Culture: There is an abundance of art galleries, museums, theatres, and other cultural entertainment opportunities.
- Gastronomy: In addition to frequenting charming cafes and gourmet restaurants, you can visit bustling markets each week to shop for fresh ingredients.
- Nightlife: The buzzing nightlife scene features dancing, music, and socialising at on-trend bars and sophisticated clubs.
- Outdoors: Outdoor recreation in Cannes includes biking, golfing, hiking, tennis, and more.
- Wellness: Health and self-care amenities are easy to find in Cannes, including fitness centres, retreats, spas, and yoga studios.
This cosmopolitan atmosphere that has the best of everything attracts a diverse population from around the world. Foreigners who move here are bound to find an expat community to bond with.
Moreover, Cannes is continually being invested in. Accommodation and dining options are being added, and renovation projects on the old port, five-star hotels, and entertainment venues make it all the more appealing for residents and travellers.
How Does the Cannes Film Festival Impact Real Estate Investment?
While it’s normally home to around 73,000 residents, Cannes sees 3 million visitors a year. That sets this area apart as one of the world’s top destinations for luxury tourism, and it provides an outstanding opportunity to earn rental income in a short period of time.
For nearly two weeks every May, the Cannes Film Festival comes to town, hosting Hollywood’s biggest stars. During this time of year, homeowners who live close to the festival are able to bring in extra income by renting their homes to travellers.
Moreover, it’s common for those who travel to Cannes for the same conferences or events every year to always want to rent the same property, leading to dependable recurring income for some homeowners.
What Investment Opportunities Exist in the Cannes’ Real Estate Market?
Cannes has won Europe’s Leading Festival and Event Destination from the World Travel Awards every year since 2021, and it won the World’s Leading Festival and Event Destination in 2022 and 2023. That makes this area one where investors want to take advantage of high rental returns, particularly during events. It’s extremely common to purchase a second home in France instead of relocating here full-time — the split between main residences and second homes is nearly 50/50.
Aside from those who only want to live in Cannes part-time and rent out their home the rest of the year, many property seekers are looking for a permanent, full-time home in Cannes. Some are fulfilling their retirement dream of living on the French Riviera, while others are moving here with their families and either finding work or remaining at their current jobs and working remotely.
How Stable Is the Cannes Real Estate Market?
One of the most appealing aspects of the Cannes property market is that it doesn’t have a lot of dramatic fluctuation. In general, it’s known as a stable market without major peaks and valleys.
Luxury homes in France start around €2 million to €3 million and go up to €15 million and higher. Buyers can expect to pay approximately €20,000 per square metre, and luxury homes with high-end amenities in the most desirable locations in Cannes may be as much as €55,000 per square metre.
For most homebuyers, turnkey homes in Cannes are what they’re looking for. However, investors may purchase a renovation project for a lower cost, update it, and then sell it for a profit.
Where Are the Prime Residential Areas in Cannes for Good Property Investment?
One of Cannes’ top residential areas is La Croisette, a waterfront boulevard with exclusive homes that have sea views and easy access to area amenities. There’s also Cannes’ old town, called Le Suquet, which has a more authentic, Old World feel.
Super Cannes, set on the hillside to Cannes’ west, has private villas and mansions with sprawling grounds, many with swimming pools. For a waterfront apartment, penthouse, or villa, also consider Palm Beach, which is on the western side of La Croisette.
To spend a bit less or to get a larger home for the same price, consider looking at the areas surrounding Cannes:
- Cap d’Antibes: Best known for its stunning luxury villas on Billionaires’ Bay
- Grasse: The perfume capital of the world, offering a sensory-rich setting
- Mougins: A medieval village with a lot of history, as well as a strong creative and gastronomic culture
- Théoule-sur-Mer: Lots of natural areas to explore, including beaches, coves, forests, and mountains
- Valbonne: Authentic Provencal lifestyle with rustic charm
By choosing a home in one of these nearby villages, you’ll be close enough to Cannes to travel there whenever you want but far enough away to live removed from the crowds and make your money stretch further.
What Legal and Tax Advantages Can Property Investors Expect in France?
There are a number of legal and tax advantages that French property buyers can benefit from, such as:
- Stability and Security: The stable legal system is clear and transparent, protecting buyers and sellers during transactions. Property titles are also defined and properly registered, preventing ownership disputes.
- Tax Deductions: Property owners in France may be eligible for certain tax allowances, such as deductions for maintenance or repairs; property management costs; or mortgage interest payments.
- Tax Allowances on Rental Income: Homeowners who rent out their property may get tax deductions for related expenses.
While France’s legal and tax advantages make buying property here more attractive, it’s best to consult with an expert who can explain the tax allowances you’re eligible for.
How Does Cannes Cater to International Buyers and Investors?
Cannes is known around the world, and its varied population makes it especially amicable for foreign investors and buyers. There are many services in Cannes and surrounding areas that make finding and purchasing a property easy, even from abroad.
Multilingual real estate agents and property management companies that frequently work with clients who live in other countries have honed their services to meet unique challenges. For example, your property agent can set up several showings in a short period of time that perfectly meet your qualifications. That way, you can visit the area and explore several homes that meet your specifications all in one trip.
Cannes’ broad reach also means there’s a strong expat community here. Regardless of where you’re from or your native language, chances are that you’ll find people who can help you feel at home. At the same time, they’ll help you integrate into life in France so you can connect with French locals, too.
Final Thoughts: Invest in a Cannes Real Estate, is it the Right Move for You?
There are so many reasons why Cannes is an alluring and savvy area for buying a home, whether that’s a full-time residence, second home, or investment property.
Its prestigious setting and global fame make its luxury properties all the more coveted, and high rental yields can be seen on short-term rentals during popular events. The Cannes Film Festival specifically offers property owners the ability to market and rent out their homes when demand is high.
For investors or property buyers who want a jet-setter lifestyle in one of the most exciting and beautiful cities in the world, Cannes’ stable real estate market and incredible properties are impossible to ignore.
Contact one of our Cannes property experts here at Home Hunts and we will help you explore the investment opportunities and navigate this exclusive market.
