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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