Cannes, a safe haven

Halfway between Monaco and Saint-Tropez, this town with almost 75,000 residents sees its population triple in summer. Scoring one of the highest performances in Europe, its “Palais des Festivals et des Congrès” can claim second place in France in the rankings of international trade fairs. Cannes also holds the same position in ratings of business destinations.

Facing the Mediterranean, this renovated apartment on the Croisette offers living space of 150 m2 (two bedrooms, a study, three bathrooms), prolonged by a terrace of almost 16 m2. 3.180.000 €. Engel & Völkers Côte d’Azur (04 93 68 64 72).

Facing the Mediterranean, this renovated apartment on the Croisette offers living space of 150 m2 (two bedrooms, a study, three bathrooms), prolonged by a terrace of almost 16 m2. 3.180.000 €. Engel & Völkers Côte d’Azur (04 93 68 64 72).

In the residential neighbourhood of La Californie, overlooking the sea, Cap d’Antibes and the Lérins Islands, this Art Deco villa of 580 m2 is in immediate proximity to the Croisette and the beaches. 12,5 M €. Michaël Zingraf Real Estate Christie’s (04 93 39 77 77).

In a residential area on the hills of Cannes, 5 minutes from the centre and beaches, this villa offers five suites in 4,000 m2 of grounds. 4.450.000 €. Croisette Properties (04 93 68 93 25).

25 km from the Nice Côte d’Azur International Airport, Cannes celebrated the 70th anniversary of its International Film Festival in 2017. Each year, the Croisette with its palatial hotels, luxury boutiques and yacht harbours invites itself via TV screens into homes all over the world. La Californie, Super-Cannes and La Croix-des-Gardes are leafy neighbourhoods offering plunging views of the bay, the Mediterranean and Lérins Islands. From ultra-modern buildings to the architectural legacy left by the English aristocracy and White Russians of the 19th and 20th centuries, Cannes unfurls the entire palette of luxury real estate.

“A hyper-active town, Cannes is a reassuring address for buyers,” says Marie-Claire Sangouard of Engel & Völkers. “It does not merely content itself with drawing wealthy tourists from all over the world : this lovely town on the Riviera hosts congresses and festivals all year long.” German, Swiss, Belgian and Italian clients rub shoulders with a few Russians and buyers from the Emirates. French clients set their sights on rental investments, apartments in the centre ranging from 6,000 to 8,000 € per sq. metre, below the bar of 1 million euros. The Croisette posts prices from 15,000 to 40,000 € per sq.m, corresponding to exceptional penthouses, with an average range of 20,000-30,000 € per sq.m. The Palm Beach area offers a village atmosphere, a peaceful, well-preserved enclave within walking distance of the Palais des Festivals which also benefits from good public transport. With pools, tennis courts, jogging paths and shuttles, luxury gated residences in La Californie appeal to Swiss and Belgian buyers. Two apartments on upper floors, of 180 and 200 m2 respectively, just found takers here at 1,450,000 and 2 million euros, while a villa of 200 m2 in need of a revamp, in grounds of 2,500 m2 on the boundary of Cannes, sold for 1.6 million euros. The lucky owners clearly focused on the location. High-end properties - ie. those worth over 20 million euros - are still highly prized, though transactions are naturally rarer. Now very careful about prices, buyers compare, analyze and negotiate. For the manageress of Engel & Völkers, about 20 % of clients arrive through the network to some 10,000 agents in over 30 countries.

Heading up the Prestige department of Michaël Zingraf Real Estate Christie’s, Angie Delattre describes a core market between 4 and 6 million euros for high-end houses. Everyone is drawn by the ultra-contemporary style, at least for interior decor. In La Californie, 4 million euros is the starting-price, whereas this same amount will bring a desirable villa in Super-Cannes. Angie Delattre mentions the recent sale of two properties in need of total renovation giving total living space of 700 m2 in grounds of 3,800 m2 with two pools, in the middle of La Californie, priced at 6.9 M €. Over in Super-Cannes, a Californian-style property of 400 m2 in perfect condition, in grounds of 2,000 m2 facing the Bay of Cannes, found a new owner for 5 M €. Town houses, rather rare, are also popular among the clientele. Cannes is a steady, stable market, even if buyers have a choice, and currently the upper hand. The notion of a sound investment is frequently an underlying consideration. A view of the sea is still the N°1 criterion, closely followed by the address. Property-dealers are always interested in opportunities requiring rehabilitation, though 85 % of clients are looking for turn-key holiday homes. The seasonal aspect no longer exists : buyers are now physically present in Cannes from January to December.

Among the agency’s most recent sales, Karim Abel of Croisette Properties mentions a house of 380 m2 in grounds of 2,500 m2, overlooking the sea from La Croix-des-Gardes, snapped up at 4 million euros. Probably to be occupied periodically over the next few years, it will then become the new owner’s permanent home. Budgets for year-round residences are not necessarily lower than those of holiday homes. And the logic behind an investment certainly does not exclude personal liking for a property, nor its appeal in terms of esthetics and enjoyment. Out of every ten sales, six are apartments. Though the four villas generate higher sales revenue. The market for apartments is shared out evenly between French and foreign buyers, whereas the market for houses is highly “international”. The choice of Cannes is clearly motivated and very determined. Le Cannet, the Chemin des Collines or Vallauris, an immediate extension of Super-Cannes, are seen as obvious fall-back markets, slightly less expensive for the same quality. But Cannes remains a real “calling card”, a very enviable address. “For both houses and apartments, and all budgets combined, 2017 has been a very good vintage,” comments Karim Abel, mentioning this year’s sale of two magnificent penthouses of over 200 m2 on the Croisette, at over 10 million euros.

By Laetitia Rossi

Announces of interest

CANNES
Price : 250 000 €
Apartment for sale - 2 rooms - 80

Local commercial center cannes Loft

In the calm of a cul-de-sac, this 78 sqm loft is the result of the renovation of a former commercial space on the ground floor of a luxury residence in the center of Cannes. The original space has... Ref : 203EAM-16 - 10/12/2018

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CANNES
Price : 630 000 €
House for sale - 4 rooms - 107

Modern Villa with Pool Cannes

Contact: ANTONY: 07.63.59.13.54 In absolute calm surroundings while being close to the historic center of Cannes this atypical town house in every sense of the term will seduce you with its... Ref : 143EAM-12 - 10/12/2018

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CANNES
Price : 1 323 000 €
House for sale - 5 rooms - 180

TOWN HOUSE IN AN OLD FARM

Contact: Teresa: 0760861975 This charming town house of 180 m² is the result of the bold renovation of an old farmhouse in the city center of Cannes. In double exposure and on two levels, the house... Ref : 202EAM-9 - 10/12/2018

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CANNES
Price : 799 000 €
Apartment for sale - 5 rooms - 171

Exceptional loft in the city center with terrace

In one of the most beautiful historic palaces of downtown Cannes take place in the old bridge room this superb loft recently renovated in an industrial spirit while keeping the original charm. The... Ref : 135EAM-23 - 10/12/2018

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CANNES
Price : 499 000 €
Apartment for sale - 4 rooms - 103

Superb loft downtown Cannes Terrace.

Located in one of the most beautiful palaces of the city center of Cannes, develops this superb loft recently renovated in an industrial spirit while keeping the original charm. The unit develops... Ref : 137EAM-22 - 10/12/2018

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CANNES
Price : 470 000 €
Apartment for sale - 3 rooms - 107

Renewed apartment in a townhouse

Close to the historical center of Cannes, like a house in town, with independent access, this contemporary apartment of 107 m² is housed in a vernacular house. Completely renovated, with a high... Ref : 166EAM-11 - 10/12/2018

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CANNES
Price : 573 000 €
Apartment for sale - 3 rooms - 67

CENTER CANNES FLAT WITH GARDEN IN FORMER MANSION

Contact: Antony 0763591354 Located in the family district Saint Nicolas, resulting from the rehabilitation of a mansion, this contemporary ground floor of 67 sqm enjoys a garden of 53 sqm landscaped.... Ref : 221EAM-11 - 10/12/2018

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CANNES
Price : 472 500 €
Apartment for sale - 2 rooms - 70

Loft with pool in an old chalet

Ideally located in a quiet cul-de-sac, this Loft of 70m2 with courtyard and private pool take place on the ground floor in the former stable of a sublime building resulting from the restructuring of... Ref : 113EAM-10 - 10/12/2018

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CANNES
Price : 2 700 000 €
Apartment for sale - 4 rooms - 160

APPARTEMENT CONTEMPORAIN À LA VUE PANORAMIQUE

Contact : Antony 0763591354Cet appartement contemporain de 160 m² entièrement réhabilité par architecte est idéalement situé en position dominante, dans une des résidences les plus... Ref : 248EAM-04 - 10/12/2018

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CANNES
Price : 799 000 €
Apartment for sale - 3 rooms - 97

APARTMENT BOURGEOIS REVISITED IN CONTEMPORARY

Ideally located a stone's throw from the rue d'Antibes, this restored bourgeois apartment of 97 sqm is on the second level of a building built in the 20s. The elegant building shines with its... Ref : 177-EAM-19 - 10/12/2018

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