Buying A French Property, You Cannes!
- Date: 2008-12-14 - Word Count: 288
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The city of Cannes, on the French Riviera has been for a long time benefiting from a world fame thanks to the international film festival. It also organizes music, games and boating festivals, which also attracts rich tourists.
The property market has this touch of rarity, stylishness and fame, which Cannes is famous for.
The property market in Cannes is an exceptional one indeed, in the meaning that unlike in other French cities, the villas and apartments are sold very rapidly. Despite their high level prices, Cannes' properties always please rich international buyers such as Russians, Americans and Arab princes. The market attracts investors, for different reasons ranging from the pleasure purchase to the capital gain it may stand for. The property market in Cannes attracts those who desire to acquire a second house, a main house or an investment.
What explains this attraction and success is definitely the warm Mediterranean climate with sunny weather, the international airport in Nice (20km away), the fame of the city and its dynamism.
As for current tendencies, prices generally decline by a few percent in 2008 for old properties purchase, they are slightly increasing as for apartments and rentals are stabilizing (about +4% in 2008). As a consequence, the average price per square meter in Cannes is € 7,367 in December 2008. The minimum budget to get a property there is €1,736/sqm and an expensive property can be found at €44,773/sqm.
Property rental in Cannes remain cheaper than in Paris - on average you can find rental properties at €15/sqm in Cannes compared to €23/sqm in Paris. It is consequently a good time to buy in Cannes if you can afford it, because there are less buyers on the market thus it is easier to make an offer.
The property market has this touch of rarity, stylishness and fame, which Cannes is famous for.
The property market in Cannes is an exceptional one indeed, in the meaning that unlike in other French cities, the villas and apartments are sold very rapidly. Despite their high level prices, Cannes' properties always please rich international buyers such as Russians, Americans and Arab princes. The market attracts investors, for different reasons ranging from the pleasure purchase to the capital gain it may stand for. The property market in Cannes attracts those who desire to acquire a second house, a main house or an investment.
What explains this attraction and success is definitely the warm Mediterranean climate with sunny weather, the international airport in Nice (20km away), the fame of the city and its dynamism.
As for current tendencies, prices generally decline by a few percent in 2008 for old properties purchase, they are slightly increasing as for apartments and rentals are stabilizing (about +4% in 2008). As a consequence, the average price per square meter in Cannes is € 7,367 in December 2008. The minimum budget to get a property there is €1,736/sqm and an expensive property can be found at €44,773/sqm.
Property rental in Cannes remain cheaper than in Paris - on average you can find rental properties at €15/sqm in Cannes compared to €23/sqm in Paris. It is consequently a good time to buy in Cannes if you can afford it, because there are less buyers on the market thus it is easier to make an offer.
Related Tags: invest, cannes, french property, french riviera, property for sale in france, cote d azur, french property market
Matthieu Cany is Director of Sextant French Property Your Article Search Directory : Find in Articles
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