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The Cannes Film Festival will take place from Tuesday, May 14th to Saturday, May 25th, 2024. This is an opportunity to review the real estate market and prices in this city, which is adorned every year with a glamorous atmosphere. On the real estate side, the market is buoyant, and prices are on the rise. And it boasts the second most expensive street in France: Boulevard de la Croisette.
Cannes is world-renowned for its International Film Festival, which attracts celebrities from the cinema and media industries worldwide each year. In addition to this prestigious event, the city enjoys a Mediterranean climate with mild weather and ideal sunshine, making it a preferred destination not only for tourists but also for new residents who flock here. Cannes boasts a dynamic real estate market with constant demand.
Regarding the composition of the Cannes real estate market, 92% are apartments and 7% are houses. 35% of the properties are 3-room apartments. Next come the 2-room apartments, representing 29% of the real estate market, followed by 4-room apartments at 16%, studios at 13%, and finally 5-room apartments and larger at 6%. 70% of the accommodations have a surface area between 40 and 99 square meters, 20% have a surface area of less than 40 square meters, and 9% are 100 square meters or more.
The trend in prices in the French real estate market has been generally declining in recent months, but Cannes is one of the cities driving the real estate market upwards. Prices increased by 7.2% in 2023 and by over 3.4% over one year in April 2024, while at the same time, major cities saw their prices decrease significantly. In 2023, several major cities saw their real estate prices decrease, such as Paris with -5.6%, Nantes and Montpellier with -4%, Lille with -6.6%, and Grenoble with -11.9%.
It must be said that the city of Cannes is dynamic by nature and offers, in addition to its beaches and its festival, a rich cultural heritage. The Suquet district, with its winding alleys, is the oldest in the city and offers a glimpse of medieval Cannes. There is also the Musée de la Castre, located in the ruins of a medieval castle, which exhibits collections of art and ethnographic objects.
In addition to its dynamic real estate market and constant demand, Cannes is also a symbol of a city as it houses, please note, the 2nd most expensive street in France! And unsurprisingly, it is the very illustrious and glamorous Boulevard de la Croisette, which comes alive every year during the Cannes Film Festival. The Boulevard de la Croisette boasts a promenade along the seaside, lined with palm trees, luxury boutiques, prestigious hotels, and sandy beaches. It is a dream location to enjoy the sun and the view of the Mediterranean Sea. Stepped on by numerous cinema celebrities when this internationally renowned event takes place. Thus, the most glamorous street in the country arrives in second place on the podium of the most expensive streets in France. But Cannes not only hosts the film festival and offers other events throughout the year such as regattas and the Cannes Yachting Festival, making the city a lively center of entertainment and culture.
Source : edito.seloger.com
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