Cannes, a safe haven
While international politics ignite and the world economy seizes up, Cannes and its surrounding area continues to bring more and more fans together. Sophie Romano, Manageress of Co^te d’Azur Sotheby’’s International Realty on the Croisette looks back over the last few months of activity.
Sophie Romano and her 11 team members radiate from Cap d’Antibes to Agay, and from Cannes to the region around Grasse via Mougins and Valbonne, an area which is notably pulling its weight on the mid-market, ie. properties worth 1 to 5 million euros. While most investors target second homes and acquisitions for personal enjoyment, the notion of a long-term investment is never very far from their choices. Prices in Cannes have never faltered. They even rose by 30 % within a decade, and by 4 % in 2024 alone. The downside is a scarcity of available properties given the reluctance of owners to sell with no guarantee of finding a haven of tranquillity meeting their demands. Among the latest sales in this area, Sophie Romano mentions a top-floor apartment with 4 main rooms facing the sea in Cannes, which sold for over 2 million euros, a penthouse of 183 m2 on Cap d’Antibes with 4 suites, an infinity pool, and 3 parking places, in a residence with a 24/7 guardian, pool area, spa, hammam, jacuzzi, fitness room and 2 treatment rooms, sold for 6.3 million euros, and a residence of character of 400 m2 in grounds of 5,000 m2 near Grasse, a property snapped up by an Indian client for over 3 million euros. Cannes is in demand from both French and foreign buyers for its radiant climate, sandy beaches, unimpeded sea views, the proximity of shops and amenities, its delightful lifestyle only equalled by easy everyday living. An iconic image reinforced by congresses and festivals, starting with the most famous, that drawing the third most media coverage in the world : the International Film Festival. The super-luxury sector can also claim a few impressive transactions, orchestrated by the agency's prestige department (Private Desk), including La Favorite in Cannes, a splendid "Belle Epoque" villa of 1,000 m2, renovated throughout, in a landscaped park of 3,000 m2, presented at 15.9 million euros and acquired in November 2024 by American clients, and the Cha^teau Lerins in Mougins, an outstanding historic property facing the sea, presented at 25 million euros.
