Property owners are cashing in on the Cannes Film Festival

Property owners are cashing in on the Cannes Film Festival

Cannes Film Festival affects the French real estate market in the region, reports The Riviera Times. The number of people wanting to rent out their homes in May 2013 increased four-fold (250). The owners of modest estate and luxury villas want to cash in on the Cannes International Film Festival.

Renting a spacious villa with swimming pool, located outside Cannes, will cost about €450 per night. Small apartment in the city are cheaper - about €35 per night. Experts of the real estate market in Cannes note that homeowners do not hurry to cut prices in order to meet European modest demands.

66th International Cannes Film Festival will be held from 15 to 26 May 2013.