“We have seen an upturn in activity in the first half of 2024 thanks to serious, well-motivated clients wanting to complete their plans for acquisition in Cannes, whether for a year-round home or a second residence with the potential to become their main address later on. The election period is, however, setting a brake on lots of plans.”
Cannes, the pinnacle of luxury
Radia Amar - 28 June 2024
While the property market in Cannes experienced a pullback in 2023, its luxury segment remains buoyant thanks to its renown as an address embodying sound value on the international scene. Even so, the election period is causing a slowdown following a slight upturn in the first half of 2024.
A high-profile town on the Côte d’Azur, thanks in particular to its legendary Croisette and emblematic lnternational Film Festival, Cannes is both an essential seaside resort on the French Riviera and an economic hub providing activities for congress attendees all year long, with highlights such as the MIPIM, Lions Festival, Tax Free World Exhibition, and Cannes Yachting Festival.
With its idyllic location on the Mediterranean shore, the town is thus prized not only by buyers looking for year-round homes (53% of the market), but also those in search of a second residence (43%). On the market for outstanding properties, ie. those on offer at several million euros, real enthusiasm is still to be seen, with demand focusing on the centre of Cannes and its surrounding hillsides. Located in the Grand Hôtel’s gardens for over 25 years, at the heart of the prestigious Croisette, the Croisette Properties agency specializes in sales and seasonal rentals of luxury properties in and around Cannes, and in Mougins.
With seven experienced members in its team, the agency has been run for 25 years by Karim Abel.
Mainly from France and northern Europe, the agency’s clientele is faced by limited offerings of high-quality properties in sought-after neighbourhoods such as the Croisette or La Californie. As an example of exceptional properties proposed by Croisette Properties as sole agent, Karim Abel mentions a penthouse on the second row enjoying a stunning sea view. In a renowned gated residence, near the palatial Carlton Hotel, this fully renovated penthouse of 150 m2 offers remarkable appointments.
Prolonged by a terrace of 50 m2 facing full south and completed by a double garage and a cellar in the basement, it is on offer at 4,950,000 €. Another rare property also proposed by Croisette Properties as sole agent is a 2-bedroomed apartment of 130 m2 characterized by the quality of its appointments and enjoying a full view of the sea. On the Croisette, with a garage in the basement, it is offered for sale at 3,990,000 €.
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