During the two weeks of the Cannes Film Festival, the rental market experiences a spectacular increase. From villas rented for parties to apartments transformed into temporary offices, prices soar. However, other events sometimes prove to be even more lucrative for property owners.
Until May 24, Cannes is hosting the 78th edition of its famous Film Festival. During these eleven days, the city’s population triples. To accommodate this crowd from around the world, luxury hotels like the Carlton or the Martinez remain a safe bet. They allow for nightly bookings, which is convenient for some rushed guests. Villas and apartments, on the other hand, are generally offered for an entire week.
“This suits a star who can only stay two days in Cannes, whereas luxury villas and apartments cannot be rented for less than a week,” explains Ornella Messina, head of premium rentals at Barnes Cannes.
Two types of properties attract festival-goers more: villas on the outskirts, often used for corporate parties or private events, and apartments close to the Croisette. Some are used as living spaces, but also as workspaces for production and communication teams.
Prices on demand and high demand
During the Festival, prices are significantly increasing. According to Kretz Real Estate, the average nightly price is multiplied by 2.5. For the most affordable accommodations, the night goes from 105 to 259 euros. For the most high-end properties, it rises from 371 to 927 euros. The average occupancy rate exceeds 90%, with an increase of nearly 40% compared to the off-festival period.
“The Festival remains a powerful lever for the Cannes rental market, but our analysis shows that not all properties ride the same wave. Positioning, services, and image play a key role in performance,” notes Alexandre Bruneau, CEO of Kretz Real Estate.
The most expensive villas and apartments do not all benefit from the same dynamic. This year, the price increase is more contained: +25% on average, compared to +50% in previous years. Their occupancy rate increases by only 17.8%. This trend is explained by professionals as due to a more competitive market and a more demanding public.
In the ultra-luxury segment, prices can soar well beyond averages. Magrey & Sons, an agency specializing in high-end real estate, offers rentals between 2,500 and 25,000 euros per week. Some prices remain confidential, determined on a case-by-case basis.
“On our site, prices are ‘starting from’ and they concern the low season, they are absolutely not applicable during the festival period,” reminds Ornella Messina. She emphasizes the confidential nature of the rates actually applied during the event.
The Cannes Festival: a boost for locals
Michael Claes, an agent at Expertimo, confirms the market’s diversity. He mentions a 130 m² apartment, 25 meters from the beach, rented at 800 euros per night, or 8,800 euros for the eleven days. “This apartment will accommodate a director from the festival’s official selection starting tonight,” he specifies.
Arnaud Charnallet, head of the ERA MAC Immobilier agency, also mentions prices at 18,000 euros for eleven nights. “High-end market landlords are going a bit crazy,” he remarks, referring to some prices deemed excessive.
Two types of property owners dominate the market. On one hand, the residents of Cannes, who rent their properties only for the Festival or conventions. On the other, non-resident investors, who rent out their accommodations year-round, especially during the summer.
The Cannes Festival remains a major event for the local economy. But price disparities, competition, and very targeted demand are pushing the market to structure around an increasingly segmented offer.
