This May film stars and their entourages, plus thousands of people that work in the film industry, will once again be flooding into Cannes to attend the world-famous Cannes Film Festival (16-27th May 2023). Whilst the film stars will be anxiously waiting for affirmation of their latest work, anyone that owns and rents out a property in Cannes will already know they are a winner. Needless to say, it's a very profitable month for those that rent their properties and it makes Cannes a lucrative destination to own a home.

Su Li, a Consultant with the home buying agent Home Hunts says: “The rental market is very strong in Cannes as you have many able and willing to pay the high rents both during the Film Festival and throughout the summer. I have a client who is renting out their 5 bedroom house for €120,000 per month over the summer and typically other home owners, can earn 10% of the property value in rent in Cannes, over the year.”

The Film Festival is one of the pinnacle events of the year but Cannes is busy all year round. In 2022 there were 140 events held at the Palais de Congress over 310 days. The demand for rental property generated by all these events means for home owners there is all year round rental demand, and they are able to let out their homes for long periods. Cannes as a destination for events has been recognised at the World Travel Awards, winning. 'Europe's Leading Festival and Event Destination' in 2022 for the second year in a row.

2023 is a big year for Cannes, which as a town is bouncing back strongly after the pandemic with two iconic hotels that host many of the visiting film stars, The Carlton and Grand Hotel, recently re-opened after major refurbishments in time for the festival.

The iconic Carlton hotel reopened its doors in March after five years of renovations and two years of closure. Its legendary Belle Epoque facade has long been the unofficial centre of the Croisette and its reopening marks another step on Cannes' bounce back from the pandemic. The former Le Grand Hotel, also on the Croisette at number 45, reopened in March as The Mondrian Cannes, with a completely renovated space.

The city of Cannes is also undergoing a renovation of its own following a 1.3 million euro investment. The plan is to completely overhaul the Croisette and turn the beachfront promenade into a stroller's paradise.

Tim Swannie, Director of Home Hunts says:

“Cannes is a small town with a huge reputation. As well as the famous Cannes film festival and boat shows, the town has a thriving congress market throughout the year.  It has two yacht-filled harbours, dazzling designer boutiques, top-notch restaurants, glamorous bars and miles upon miles of fine golden beaches.

Cannes is a firm favourite with our clients, it is a town that is bustling all year round, but it's small enough to feel very welcoming and many of our clients really feel at home quickly in Cannes, some saying it feels more like a large village.

Whether you are looking for a central apartment, a villa in the hills or a private waterfront estate, the Cannes area offers it all. And because of the size of Cannes and the huge international demand, property prices tend to increase year on year. Prices have increased around 5% each year for the past 3-4 years and even in difficult times such as back in 2008-2009, prices remained stable.

It is easy to access from by car, train, plane, boat or even helicopter. Cannes has its own private airport and is less than 30 minutes from Nice airport so it's a very attractive destination for wealthy property buyers who usually like to live in the hills above the town. In areas such as La Californie or Super Cannes, you can find some of the most spectacular properties on the whole Riviera, most of them offering the most incredible views out to sea.

During the pandemic, we found there was a lot of interest from Parisians and clients from other large cities around the world (such as London, Berlin, Amsterdam and so on) who were looking for properties with space, in easy-to-get-to destinations where they could base themselves.

There is also a great choice of apartments and townhouses closer to the town centre which are popular with clients who wish to make a rental income. Because Cannes has this huge congress market, as well as millions of tourists each year, you can attain a very interesting rental return, particularly on central properties.”

Cannes has an attractive year-round climate with 300 days of sunshine a year, with pleasant winter temperatures. Along its 7.5km of golden there are water sports galore – from kite surfing to jet skiing. The authorities have invested millions of euros to provide facilities that make life in Cannes as pleasant as possible, such as showers, waste bins, toilets, cafes and sunbeds.

On the Market in Cannes

Newly renovated and beautifully presented apartment in a great location, close to the famous Boulevard de la Croisette and the Palais des Festivals in central Cannes. €1.65 million

https://www.home-hunts.com/property/hh-14774023-french-riviera-cannes-area-cannes

Belle Epoque Villa in the heart of the city, and walking distance from the Palais des Festival. This would be a very nice holiday home or a good rental investment. 2 450 000€

https://www.home-hunts.com/property/hh-14898148-french-riviera-cannes-area-cannes

 Ideally located between Golfe-Juan and Cannes, this late 19th century Belle Epoque 3 bedroom villa is full of character and offers a breathtaking view of the sea and the Cap d'Antibes. Outside a delightful pergola gives shade in the summer alongside the pool. 2,250,000€

https://www.home-hunts.co/property/villa-house-for-sale-cannes-hh-14861828/

Other properties on the market include:

This four bedroom apartment offers a 360 degree panoramic view over Cannes. €6.9 million.

https://www.home-hunts.com/property/hh-14417793-french-riviera-cannes-area-cannes

This five bedroom villa in the midst of the famous Domain of Super-Cannes, within an unspoiled environment, enjoys an enchanting sweeping view. €6.9 million

https://www.home-hunts.com/property/hh-14495281-french-riviera-cannes-area-cannes

For more information visit www.home-hunts.com or call: +44 (0)208 144 5501.

About Home Hunts

Established in 2005, Home Hunts specialise in finding luxury homes and investment properties throughout France, Monaco, Spain, and Switzerland.  Home Hunts is a leading buyers' agent, whose role is to find the hidden gems that the property market has to offer.  Their service is free to the buyer.

The team collaborates with all of the best estate agents, notaires, developers and private sellers to provide the ultimate selection of properties in a desired area.  Home Hunts work closely with their clients, offering unbiased advice and support throughout the entire buying process and beyond