Luxury Lodgings at Cannes Festival: Weekly Rates Soar to €25,000 and Beyond!
Title: Fancy Staying in Cannes? Luxury Villa and Apartment Rentals Soar During Festival Season — and Two Other Events Too!
© PIXABAY By Christine Lejoux Real Estate Editor Published on
Ah, the glitzy world of film festivals! And there's no grander stage than Cannes. This charming coastal town transforms into a bustling hotspot from May 13 to the 24th, as the 78th Cannes Film Festival rolls in. But where do the cinema elite stay amidst all the star-studded glamour? Our man Ornella Messina, manager of high-end seasonal rentals at the Barnes agency in Cannes, spills the beans.
First off, luxury brands and communications agencies won't hesitate to book villas for their A-list parties. Conversely, starry-eyed festival-goers prefer apartments in the vicinity of the Croisette for a combo of accommodations and offices. Michael Claes, a real estate agent at Expertimo, was kind enough to guide us through a tour of a fabulous apartment, boasting 130 square meters, four bedrooms, and approximately €800 per day or €8,800 for the festival's duration.
But that's just the tip of the iceberg! The family real estate group Magrey & Sons offers apartments on their website, priced between €2,500 to an eye-watering €25,000 per week during the festivities. Ornella Messina warns that prices are set on a case-by-case basis, keeping her lips sealed on the juicy details. And yes, the prices on Magrey & Sons' website are for the low season — they're not even close to reality during the film festival.
Now, Cannes might be synonymous with the film festival, but it's not the most lucrative event for Cannes real estate. According to Arnaud Charnallet, head of ERA MAC Immobilier agency in Cannes La Bocca, the advertising and internet festival known as the Lions, held in June, is the big money-maker. The adored MIPIM, the real estate fair in March, follows closely, with the film festival rounding out the top three.
Seems like yesterday, Arnaud had a video conference with some New York-based Lions attendees, who were keen on renting a 600 square meter villa with five suites in June, for a cool €5,000 per day. And would you believe it, this property is also up for sale at a cool €8 million? A shrewd investor might just strike gold if one of the potential renters falls head over heels!
While data on the most expensive rental options during major events like the Lions Festival and MIPIM is harder to come by, it's safe to say they come with a hefty price tag. Arnaud Charnallet estimates that the ultra-luxury market during the festival is like stepping into "another dimension," with villa rentals fetching as much as €100,000! This hefty sum includes flowers, a near-Olympic sized pool, a stunning view, a personal chef, a yoga instructor, a gardener, and more.
So, if you've a fancy for Cannes and its glitzy events, prepare to open up your wallet wide. After all, as they say, fortune favors the bold!
Sources:
- Data Source: Numbeo
- Cannes Accommodation: https://www.cannes-accommodation.com/
- MIPIM: https://www.mipim.com/
- The Lions Festival: https://canneslions.com/
- Average Real Estate Prices in Cannes: https://tinyurl.com/y6xw7rwp
- During major events like the Cannes Film Festival, luxury villas and apartments in Cannes are in high demand, with prices for a 130 square meter apartment reaching around €800 per day.
- The advertising and internet festival known as the Lions, held in June, is the most lucrative event for Cannes real estate, with villas rentals fetching as much as €100,000, including additional amenities such as flowers, a near-Olympic sized pool, a personal chef, and a yoga instructor.
- For those interested in investing in real estate in Cannes, the family real estate group Magrey & Sons offers apartments during the film festival with prices ranging between €2,500 to an eye-watering €25,000 per week.
