Prices for new apartments in Cannes have dropped by 15% from April 2009 to March 2010
The latest figures published by the Notaires de France show a drop in the price/m2 for new developments in Cannes and towns nearby. The variation in price per m2 from 1 April 2009 to 31 March 2010 is minus 15.2% for new built in Cannes, bringing the average price per m2 at €7 105 . The town of Mandelieu, a seaside resort next to Cannes, has also seen a drop in its prices for the new apartments, minus 6.9% for the same period, bringing its average price per m2 at €5 945. Low interest rates and the lower cost per m2 make it a right time to invest in a new property in Cannes.
A new residence only minutes from the famous Croisette was released to the public in March 2010, the first phase (63 apartments) was sold within 2 months. The French investors have rushed to buy it. We are now releasing the last 21 units and we anticipate the same demand. The residence is 400m from the Croisette and the beaches, easy access to the TGV station. It is ideal as a holiday home or an investment property as you can rent it as a buy to let or do seasonal renting.
Apartments start at € 170 625 for a studio inclusive of parking, AC and kitchenette. One bed apartment will start at €268 000 with parking and 2 bed will start at €330 000 with parking. On a buy to let basis, you will be able to charge €15/m2 per month , for holiday rental 1 bed apartment will let for €1000 to €1200 per week for the high season (July & August as well as for all festivals, Exhibitions, shows etc).
Seven km from Cannes, you will find the seaside resort of Mandelieu. A favorite location for golfers and sailors. On the hills of Mandelieu, you could buy one of the apartments overlooking the sea, the massif d’Esterel and the Mercantour Park. The residence is gated with swimming pool, spa center, a concierge service and you can use the tennis court in the private domain.
The apartments are near completion, we have some large studios, 1,2 and 3 bedrooms apartments still available with panoramic sea views. Prices start at €265 000 for a studio, €360 000 for a 1 bed, €430 000 for a 2 bed and € 865 000 for a 3 bed.
A 1 bed apartment will generate about €1000 to €1500 per week in high season.
For more information on these properties, contact us on +33 (0)4 72320425 or email firstname.lastname@example.org