3-room apartment 61.75 m² for sale Mimizan - €274,000

The listed price for this apartment is €274,000, which corresponds to a price per m² of €4,434 (calculated from the listed price and declared characteristics). Based on data from the DVF (Demand for Land Value) for Mimizan, the median price per m² for similar apartments is around €3,800 (source: DVF DGFiP, consulted in October 2023). Thus, this apartment is positioned above the market median by 16.7%.

In terms of trend, apartment prices in Mimizan have increased by about 5% over the last 12 months, with a forecast of stability for the next 12 to 36 months, due to the tourist appeal of the region and increasing rental demand.

Advantages: Proximity to the Ocean, secure residence, furnished. Disadvantages: Price above the median, which may limit interest for some buyers.

For a purchase at €274,000, notary fees are estimated between 7% and 8% for an old property, or approximately €19,180 to €21,920 (estimate based on current professional scales).

The total acquisition cost would therefore be around €293,180 to €295,920.

Loan simulation:

• Amount borrowed: €274,000 - 10% down payment = €246,600
• Interest rate: 3.4% over 20 years
• Estimated monthly payment: €1,410 (calculated with a loan simulator).

Rental yield: If this apartment is rented at €1,200/month, the gross rental yield would be 5.26% (calculated from the annual rent divided by the purchase price). The net yield, after deducting charges and property tax, would be around 4.5%.

Annual holding cost:

• Charges: €1,200
• Estimated property tax: €800 (estimate based on sector averages)
• Insurance: €300
• Total: €2,300 per year.

The apartment is classified D according to the Energy Performance Diagnosis (DPE). This implies an estimated annual energy consumption of 230 kWh/m² (source: DPE, consulted in October 2023). The annual energy cost would therefore be around €1,400 (calculated from consumption and the average price of electricity).

Rental bans: According to the Climate & Resilience law, properties classified F or G can no longer be rented from 2025. This property, being classified D, is not affected by this ban.

Estimated renovation cost: To improve from class D to C, insulation and heating changes would need to be considered, with an estimated cost between €8,000 and €15,000 (estimate based on average public sector data).

Available aids: Aids such as MaPrimeRénov' can be mobilized, with amounts ranging from €1,500 to €5,000 depending on the work done.

The apartment is located 300 meters from the Ocean and near several shops, restaurants, and health services. Public transport is limited, but the town is accessible via local bus lines.

Amenities:

• Supermarket 500 meters away
• Primary school 1 km away
• Doctor 800 meters away

Demographics: Mimizan has a population of about 7,000 inhabitants, with a median income of about €1,800 per month (source: INSEE, consulted in October 2023).

Quality of life: The town is known for its beaches and green spaces, offering a pleasant living environment. However, the summer season can lead to increased noise and foot traffic.

Mimizan is exposed to flood risks, particularly in areas close to the coast. According to data from Géorisques, the risk level is moderate.

PLU and zoning: The apartment is located in an urban area, allowing for construction and renovations subject to compliance with the Local Urban Plan (PLU).

Mandatory diagnostics: The seller must provide energy performance diagnostics, lead, and asbestos if applicable.

Buyer's rights: The buyer has a withdrawal period of 10 days after signing the sales agreement, in accordance with current regulations (Consumer Code, article L271-1).

Critical questions to ask:

1. What are the condominium fees?
2. Are there any construction projects nearby?
3. What is the amount of the property tax?
4. What are the conditions of the sale (furnished or not)?

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