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 Azure Coast, also known as the French Riviera is one of
the icons of the world tourism. Tourists are greatly fascinated with the dazzling
sun, favorable climate and caressing sea that provoke visiting this part of France on
holiday or get a hold of real estate, depending on solvency status. Cannes is one of
the best-known cities of the French Riviera, a place full of tourists and host
of the annual Cannes Film Festival along with Nice. Cannes is the center of French culture and
one of the best known recreational areas. Purchase of real estate in Cannes is the perfect investment, but the question is if
the Cannes
property is profitable?
So, what makes
Cannes so inviting
place for prospective investors? The gorgeous climate, proximity of the Mediterranean Sea, developed infrastructure and luxury
apartments, whether it is mansion on the coast or an apartment in condominium
at Promenade de la Croisette.
The external
wealth and pastoral pictures should not deceive the investor-to-be when it is
not ideal on the market of French real estate on the whole and in Cannes in particular as
it may be desired. The consequences of the world financial crisis are observed
when the demand for the apartments of the average price range decreased to the
extent not applicable for the region. This It is explained in the way that the target
group of analogous property objects, that is the highest middle class, was
significantly attacked by crisis and switched, thus, to the budget housing. The
representatives of the elite with considerable revenue still acquire the lavish
high-class real estate the demand for which was not affected by financial
fluctuations. However, elite real estate has always been the stable segment of
the investment market.
The other factor
to prove on solemn and complicated situation of Cannes real estate in the segment
of property is failure of the leasing campaign held in the previous year, when
considerably greater part of the housing fund of the city held by private
persons was empty due to high rent price for property. This never brought
anticipated income to the property owner, no. on the contrary, it plunged into
heavy losses: the more expensive is property – the maintenance is overhead.
Proximity
of the Mediterranean Sea can serve as one of
the drawbacks of real estate. Such a close neighborhood will bring salty
splashes of sea and warm waves, though sometimes the owners experience nasty
weather and sharp wind with frequent stormy conditions which are surely
negative to perceive by residents of the coastal regions.
Nevertheless,
in spite of negative details related to the Cannes real estate, the investment prospects
of particular categories of investment objects is kept at the highest possible
level. First, it is the elite property located in the most known and
comfortable regions of the city.
Californie,
Сannet Residentiel,
Centre-Croisette and Super Cannes are the world-known and expensive quarters in
Cannes. Al the four
quarters surely refer to the elite housing area and the most luxury and
expensive villas and apartments are located there.
Californie
quarter holds the title of the most prestigious and comfortable area in Cannes. The most
expensive mansions are located in here exactly throughout the Azure Coast
and the most available part of real estate can boast to cost over 1.5 million
Euros. Such impressive prices are due to that Californie is the rather
vivid place, the core of luxe, comfort and high class. Celebrities, politicians
and sportsmen tend to acquire real estate in this quarter. Californie is the
exclusively beneficial investment approach from the investment point of view.
Сannet
Residentiel is also the prestigious district to pay attention. Gorgeous villas
with fascinating view to the sea and other architectural solutions are placed
there. The lower margin for the real estate in this quarter is around 1 million
Euros. Сannet
Residentiel looks the same solid as Californie in view of investments.
The third elite Cannes district is Super Cannes.
This quarter is known for the splendidrealestate and green roads, which
looks like a piece of heavens on the earths. The price for villas in
this quarter ranges from
610 thousand Euros up to the highest margin of 2,5 million Euros. The
option of
seascape immediately shifts the price limits and such a property will
take the
investor the amount from 2 to 10 million Euros.
Besides,
Centre-Croisette quarter is also the notable area with the most expensive real
estate in the segment of apartments. The average cost for the square meter in
the condominium at Promenade de la
Croisette is equal to fifteen and a half thousand Euros.
Big
exhibitions and shows are the tools to get the passive profit and the most
famous is the Cannes Festival held in the end of May traditionally and The International Festival of GamesAzure Coast
will take the visitor four to ten thousand Euros for a week. being
the festival of bridge, backgammon, draughts, chess, tarot and more held in February.
In the ordinary life the apartments in the most prestigious quarter of the city
is available for 2 thousand Euros per week, and these hot days the profit of
owners increases twice as much. The rent of villa at the
The mentioned quarters in Cannes are the winning options
to invest assets due to special status to acquire: the areas are fully housed
with elite property which cost is not affected with the world economic
situation.
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