Buying and renting out your apartment in Cannes. How does that work?
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Buying and renting out your apartment in Cannes. How does that work?

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Buying and renting out a second home in Cannes sounds like a good idea. Many people, therefore, buy a sunny apartment in Cannes or in the direct area to enjoy the property but also as an investment in real estate. After all, everyone knows; with your savings in the bank, you get next to nothing, and in the worst case you still have to pay the bank to keep your money; the so-called negative interest. Investing in real estate in the South of France is then a good idea to have some fun with your money too. But what are the average rental prices you can ask and does it yield enough at the bottom of the line? If you want to rent out your second home or apartment in the South of France, remember that you are competing with the hotels. Check the average prices per night in a hotel of the same class as your apartment. That gives a nice guideline.

Buying and renting out your apartment in Cannes. How does that work?

Cannes is of course the festival city of the South of France. Anyone who buys an apartment here can rent it out during the busy festivals. This also applies to luxury villas in Cannes and the surrounding area.  The real estate market in Cannes is very active and has lots of properties to are perfect for this. The Cannes festivals are an important source of income for local businesses; hotels are already fully booked months in advance at triple rates. You can of course take advantage of this when it comes to a high rental return. Visitors to conferences and festivals are of course the ideal tenants; they are hardly ever there and simply want a clean and spacious apartment and a good bed. If your apartment is larger than the average hotel room, you can keep the luxury hotel prices minus 10-20%.

Buying and renting out your apartment in Cannes. How does that work?

Investing in Cannes real estate? These are the best months for short term rentals in Cannes:

Agenda events and festivals Cannes

March: MIPIM fair

April: many long weekends due to extra National Holidays

May: Cannes Film Festival

June: LIONS festival + holidays so many tourists

July: many tourists

August: many tourists

September: Cannes Yacht show + many tourists

Buying and renting out your apartment in Cannes. How does that work?

When you have done your research on real estate in Cannes, you most likely will find a real estate agent on the Cote d’Azur or a real estate service agency that helps you to find a property. Of course, it adds a 100% lifestyle and fun value if you could use it for yourself too. And to gain some income that will help you to break-even the yearly costs and even makes a profit. With some effort, you can achieve an occupancy rate of 80-100% for about six months a year. In the period from October to February, it is a lot quieter, but Cannes is always popular. Close to Cannes but for a completely different audience in the village of Mandelieu. This village at 6 minutes by car is more family-oriented. Most holidaymakers come here in the period from June to mid-September. If you have an apartment in other villages than Cannes, it is important that you can offer a garage or parking space. A swimming pool at the residence increases the chance of renting, and also the price per day or per week. This guideline also applies to the rental of your apartment in other villages in the area such as Antibes, Biot, Villeneuve Loubet, and Cagnes Sur Mer.

Apartment rental; arrange it yourself or outsource?

With handy websites like airbnb.com and even bookings.com, you can offer your apartment to the rest of the world. Real estate in Cannes is always appealing to a large and rich audience that is willing to pay for luxury. But then you still have to organize the key handover when your guests arrive. After the guest’s departure, after a few days or a week, you must change the sheets and towels, wash the linen and clean the apartment thoroughly. And of course, you will be there smiling for the next guest. That is quite a lot of work and hassle because guests never arrive on time and expect you to be there. A key box with a pin code can be a solution to this. But even then you need a cleaning team and someone to inspect whether everything has been left tidy. Do not forget to take out comprehensive home contents insurance for any damage. Fortunately, there are specialized agencies in Cannes that take care of all this for you. We can of course introduce you to our regular partner; you can count on an average of about 25% of the rental price to cover all costs and activities. The agency, therefore, ensures trusted and well-paying customers. If you would like more information about the purchase of a villa or apartment as an investment for rental, please contact us. Our services start with finding you the right real estate property in Cannes.

Our Cannes properties for sale, apartment and villa

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About The Author
Ab Kuijer

Radio, TV and advertising producer. Owner of an international marketing company. Lives in the South of France since 2006. Former President of the British Chamber of Commerce, later Riviera Business Club. Happily married to Jojo. Reads and writes 2000 words per day about different topics. With the Living on the Côte d'Azur platform, Ab and Jo together provide 'Good old Dutch' Service for buyers of real estate on the Côte d'Azur, Portugal, Mauritius, Italy and Ibiza.