With its sales and rentals, luxury real estate and its prestigious properties, extraordinary penthouses, contemporary villas, Provencal bastide houses, or Belle Epoque properties, is back as a prime player on the real estate market. Magrey & Sons provides you hereafter with a brief summary of the causes and reasons of this renewal with, in addition, a scrutiny of the market in Cannes!

Luxury micro-markets on the French Riviera, such as Cap Martin, Saint Jean Cap Ferrat, Cap d’Antibes, Mougins, Théoule, from Agay to Saint Tropez, have all been impacted by the disappearance, these last 3 years, of Russian and Eastern European clients, and the Cannes market was no exception!

The beginning of economic recovery has many causes, among which favourable exchange rates of currencies such as US Dollar, British Pound or Norwegian Krone. Another cause for this recovery is the historically low interest rates. But the main reason for this economic rebound lies in the fact that sellers and purchasers understood their common interest and get along as for prices, even if there is still a difference between asking price and selling price.

The recovery will not be identical for everyone, since clients are more demanding when the market is in a state of tension, and this is a normal thing that getting out of the “crisis” is a process that is staggered over time and that depends on the type of property. There used to be a time when the markets were flourishing and when anything and everything was sold. Now that this period is over, one just has to look at the recent sales in Cannes to notice that Rule #1 of luxury real estate, that is location, applies again.

Now, our very high-end micro-markets attract a wide range of customers, including a “broader Middle-East” being undoubtedly number 1 client. Recent events worldwide, due to terrorism, reinforced the will of our clients to come and secure part of their assets in our region. And thanks to a strong purchasing power, they buy the most exceptional properties on the market!

No matter where our clients come from, the purchase criteria remain the same: address, panoramic view, beautiful architecture, no nuisances, of course in excellent condition and potentially furnished. You will easily understand that with such criteria, a major part of our offers is set aside, waiting for the purchasers to reinforce their trust, month after month, as the recovery is confirmed.

As for the Cannes market, and in particular the apartments, La Croisette remains number 1 request, and some of them have been recently sold up to €45,000/sqm with an average selling price of €30,000/sqm. The marketing of Residence 7 Croisette, a building facing the Festival Palace, was a true success, with average selling prices of €35,000/sqm. The tip of Croisette promenade (“Pointe Croisette”) and its Palm Beach area is in good shape, even if there is a huge difference as regards price per sqm, varying depending on the building in which the apartment is located. The most prestigious building remains Le Marly, where prices are also very high, with average prices of €20,000/€30,000/sqm depending on the floor and the quality of the renovation.

The second luxury market for apartments is the Californie area, and more specifically Avenue du Roi Albert. Despite aging properties, the main residences are for sale from €10,000 to €14,000 per sqm, with special mention of 87 Soligny, the last hyper modern residence, offering remarkable finishing. This summer, 4 units (out of the 9 apartments for sale) in this residence have been sold, and the average selling price exceeds €17,000 per sqm…

Activity of other micro-markets of very high-class apartments, such as “Lower Californie area”, “Croix des Gardes”, or “Residential Cannet”, has been insignificant, and our sellers will have to wait for the recovery. In this market as well, the scarcity of clients, together with demanding criteria, led to a situation of natural selection of the historically most demanded micro-markets, such as The Croisette Boulevard as for apartments, and the Caifornie area as for villas.

As regards the villas, even if there are fewer sales, some are noteworthy as their quality is similar to the pre-2012 period!

Sales occur in the residential areas of La Californie, such as the “Corniche du Paradis Terrestre” area, with 2 sales for 5.5 Million Euros and 6.3 Million Euros for small surface villas (270 sqm and 300 sqm) compared to selling prices. It is to be noted that these two sales reflect the “high quality” trend of the current sought-after properties.

On the contrary, some areas, much sought-after when the market was dynamic, have been deserted by purchasers, such as “Chemin des Collines”, “Residential Cannet”, and a large part of “Super Cannes” and “Cannes Eden”. The “Croix des Gardes” area is no more popular, but keeps its attractiveness thanks to exceptional properties for sale on the French Riviera,such as, for example,  “Croix des Gardes Castle” for 90 Million Euros!

Simultaneously with this ”location first” trend, it is worth noting some completed or pending sales for unique properties, such as this 13 Million Euro sale for a renovated property set on large landscaped grounds at the top of the hill, as well as a couple of surprises to come which will boost our selling stats.

As a conclusion, the market went through a period of significant depression, but is now showing positive signs of a business recovery!

Wintertime is a propitious moment for thoughtful investments, and Magrey & Sons team will help you find some unique opportunities…

Sale - Apartment - Cannes
Exceptional property

Reference : 12573 - 15 000 000 €
surface Living area : 601 m²
terrasse Terrace : 820 m²
chambres Bedrooms : 7
sdb Bathrooms : 7

2 exceptional appartments in Cannes

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Sale - Apartment - Cannes
Californie

Reference : 12242 - 5 000 000 €
surface Living area : 227 m²
terrasse Terrace : 296 m²
chambres Bedrooms : 3
sdb Bathrooms : 2

SOLE AGENT: BAHAMAS. 227sqm.

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Sale - Villa - Cannes
Californie

Reference : 1586 - 13 900 000 €
surface Living area : 380 m²
terrain Land area : 4048 m²
chambres Bedrooms : 5
sdb Bathrooms : 5

Panoramic sea view

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Sale - Apartment - Cannes
Penthouse

Reference : 0195 - 2 100 000 €
surface Living area : 109 m²
terrasse Terrace : 13 m²
chambres Bedrooms : 3
sdb Bathrooms : 3

Magnifique Penthouse en plein centre de Cannes

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Sale - Villa - Le Cannet

Reference : 1172 - 2 290 000 €
surface Living area : 250 m²
terrain Land area : 1020 m²
chambres Bedrooms : 5
sdb Bathrooms : 4

Art deco property - Sea view

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Sale - Apartment - Cannes
Croisette

Reference : 11359 - 3 790 000 €
surface Living area : 127 m²
terrasse Terrace : 33 m²
chambres Bedrooms : 3
sdb Bathrooms : 3

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Sale - Villa - Golfe Juan
Exceptional property

Reference : 2244 - 11 500 000 €
surface
terrain Land area : 45917 m²
chambres Bedrooms : 5
sdb Bathrooms : 5

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Sale - Apartment - Cannes
Penthouse

Reference : 12591 - 1 590 000 €
surface Living area : 105 m²
terrasse Terrace : 25 m²
chambres Bedrooms : 3
sdb Bathrooms : 2

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Sale - Villa - Le Cannet
Contemporary villa

Reference : 1615 - 2 950 000 €
surface Living area : 570 m²
terrain Land area : 3084 m²
chambres Bedrooms : 4
sdb Bathrooms : 4

New contemporary villa with views of the Esterel hills

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Sale - Villa - Cannes
Dominant position

Reference : 1602 - 10 000 000 €
surface Living area : 500 m²
terrain Land area : 2357 m²
chambres
sdb

Panoramic sea view - Walking distance from the Croisette

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Sale - Apartment - Cannes
Croisette

Reference : 11357 - 2 800 000 €
surface Living area : 130 m²
terrasse Terrace : 135 m²
chambres Bedrooms : 3
sdb Bathrooms : 3

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Sale - Villa - Cannes
Waterfront

Reference : 1605 - 3 180 000 €
surface Living area : 230 m²
terrain Land area : 618 m²
chambres Bedrooms : 3
sdb

NEW! waterfront property, close to the shops!

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Sale - Villa - Le Cannet
Closed estate

Reference : 1600 - 4 490 000 €
surface Living area : 380 m²
terrain Land area : 1800 m²
chambres Bedrooms : 6
sdb

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Sale - Apartment - Cannes
Croisette

Reference : 11356 - 2 490 000 €
surface Living area : 75 m²
terrasse
chambres Bedrooms : 2
sdb Bathrooms : 2

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Sale - Villa - Cannes
Californie

Reference : 1606 - 2 790 000 €
surface Living area : 200 m²
terrain Land area : 450 m²
chambres Bedrooms : 4
sdb Bathrooms : 4

NEW ! Superb renovated villa with panoramic sea view

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Sale - Villa - Le Cannet
Near downtown

Reference : 1604 - 980 000 €
surface Living area : 180 m²
terrain Land area : 750 m²
chambres Bedrooms : 5
sdb Bathrooms : 4

NEW : Land with villa and construction project

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Sale - Apartment - Cannes
Downtown

Reference : 0201 - 765 000 €
surface Living area : 70 m²
terrasse Terrace : 14 m²
chambres Bedrooms : 2
sdb Bathrooms : 2

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Sale - Apartment - Cannes
Croisette

Reference : 11351 - 1 730 000 €
surface Living area : 92 m²
terrasse Terrace : 28 m²
chambres Bedrooms : 2
sdb Bathrooms : 2

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Sale - Villa - Cannes
Near Croisette

Reference : 1597 - 1 595 000 €
surface Living area : 137 m²
terrain Land area : 714 m²
chambres Bedrooms : 3
sdb Bathrooms : 2

Superb Belle Epoque villa walking from La Croisette

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Sale - Villa - Cannes
Croix des Gardes

Reference : 1598 - 2 550 000 €
surface Living area : 274 m²
terrain
chambres Bedrooms : 5
sdb Bathrooms : 3

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Sale - Apartment - Cannes
Downtown

Reference : 0199 - 1 170 000 €
surface Living area : 180 m²
terrasse
chambres Bedrooms : 3
sdb Bathrooms : 2

Magnificent duplex in the center of Cannes

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Sale - Apartment - Cannes
Penthouse

Reference : 0198 - 2 990 000 €
surface Living area : 99 m²
terrasse Terrace : 15 m²
chambres Bedrooms : 3
sdb Bathrooms : 3

4 room Penthouse in front of the Palais des Festivals

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Sale - Apartment - Cannes
Cannes Eden

Reference : 12588 -
surface Living area : 140 m²
terrasse Terrace : 195 m²
chambres Bedrooms : 4
sdb Bathrooms : 3

cannes Eden magnificent ground floor villa

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Sale - Apartment - Cannes
Penthouse

Reference : 11352 - 11 660 000 €
surface Living area : 184 m²
terrasse Terrace : 181 m²
chambres Bedrooms : 5
sdb Bathrooms : 3

Cannes Croisette Unique Penthouse

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