Why Cannes offers better rental opportunities than Nice
- Firstly in Cannes unlike Nice or Paris, there is no super-tax on second homes, and this explains why 48% of properties in Cannes are second homes Vs. just 13% in Nice. The supertax is a 60% increase of the standard property tax (taxe foncière).
- Secondly due to the exceptionally active convention centre in Cannes, the Palais de Festivals, you can get a good occupancy from business travellers if the flat is centrally located .
How do purchase prices compare ?
Cannes is considered more upmarket and expensive than Nice, yet if you venture just a few hundred meters from the seafront, prices are quite reasonable, at 4000-5000 Eur/m2 instead of 15000 Eur/m2 on the prestigious Croisette.
In Nice, close to the old port or near the central square of Place Massena and Carré d’Or prices can be as high as the Croisette, whereas in the other districts popular for foreign buyers, like Cimiez, Mont Boron or Fabron to the west, prices are also 4000-5000 Eur/m2.
Other key differences between Nice and Cannes
But the choice depends finally depends on the buyer and if you prefer the larger and livelier city of Nice with its new tram and easy access to the airport, then it makes sense to buy in Nice.
If you prefer a quieter and more secure environment with sandy beaches then Cannes is likely to be your town.
Both towns offer you all the charm and great lifestyle of the French Riviera with its 300 days of sunshine a year !
The return on holiday rentals
You can get up to 4-5% net return on your investment if you choose just the right rental property. Flat tax on property rentals is 30% in France, but there are other options available that depend on your personal tax situation.
Smartfinder Home will be happy to advise and help you find the best rental properties that meet your requirements.