LA CROISETTE: €30,000 PER SQUARE METRE FOR A RENOVATED FLAT WITH SEA VIEWS
7 June 2023
The emblematic seafront promenade at the heart of the city of Cannes is becoming increasingly attractive. The luxury residences are very popular with international clients, particularly the penthouses with terraces and sea views. Between now and 2025, almost a billion euros will be invested in upgrading the Côte d'Azur. A project that can only boost the prestige property market.
WORKS TO BE LAUNCHED IN 2024 TO EMBELLISH THIS SEAFRONT BOULEVARDThe Côte d'Azur is one of the most popular destinations for second-home buyers. At the centre of this coastline is the town of Cannes and its legendary promenade, the Croisette. From the Palais du Festival to the Cap de la Croisette, lined with palm trees and beaches dating back to the 1960s. New works will be launched in 2024 to continue the developments already undertaken. The Vieux Port is being renovated and the Casino Palm Beach is preparing to reopen after major works. Next, the entire seafront boulevard will benefit from new urban developments. On one side of the pavement are the luxury boutiques, while on the other, the Carlton, Majestic and Martinez beaches compete with each other in terms of gastronomy and festivities. The palaces are constantly being revamped. The Marriott, the Martinez and the Carlton have all undergone major renovations. Residential buildings are gradually being brought up to standard.
30,000/M²: THE TOP PRICE FOR A RENOVATED FLAT WITH SEA VIEWSPrices for a renovated flat with sea views start at around €30,000 per square metre for a high floor, and can go up to €50,000 for exceptional properties such as penthouses. Most of the clientele come from Northern Europe, and they are always in a hurry to get a pied-à-terre overlooking the Bay of Cannes. Germans, Belgians and Scandinavians appreciate the liveliness of the seaside resort, its luxury boutiques and increasingly abundant choice of restaurants.
EMBELLISHMENT OF THE CROISETTE WILL CONTINUE TO BOOST PROPERTY PRICESPrices remain high, particularly in the centre of the Croisette, and the embellishment of the Croisette will continue to increase the value of property. The renovation of the Vieux Port and the opening of the new Casino Palm Beach, with its host of famous restaurants, herald the urban facelift of the Boulevard Croisette, scheduled for 2025.
Source : mysweetimmo.com