Tendances

CANNES, Star value, Luxury real estate in best places of France

CANNES, Star value
“Like the luxury market, Cannes real estate is doing well,” says Jérôme Renaud, owner of the Croisette-Californie agency and president of the Alpes-Maritimes FNAIM.

It is also a city of strong contrasts, where "prices can diverge along a scale from 1 to 7, and even from single to double on the same avenue, due to the variety of the real estate base.

” Another feature is that “between first quarter 2006 and first quarter 2007, Cannes has experienced not just a price rise but and increase in the number of transactions”, he emphasizes. “Olympic-quality performance from high-end properties has driven up the price of the rest.” Even though, says Antoine Garcin of the Emile Garcin agency in Mougins, “we are no longer growing at an annual rate of 15% as in previous years.” Foreigners – who make one in every four sales – play a significant role in driving the Cannes market.

Today, the British and Irish are marquee nationalities. But people from Paris and its surroundings are still the main clients of Cannes’ estate agents.

“There’s only one Cannes in the world, and it is not that big!” is how Alain Blum from La Source agency puts it. And in Cannes there’s only one Croisette, where prices range from €12 to 15,000 the sq. m., and up to €20,000 for high quality properties.

Rich in luxury residences, often with balconies and pools, the exclusive neighbourhoods to the east of Cannes are also much sought after, in the next price range up: “€6 to 10,000 a sq. m.”, observes Antoine Garcin.

CANNES, Star value