1-Room Apartment 33.65 m² in Le Cannet - €172,000

The listed price for this apartment is €172,000 for an area of 33.65 m², which corresponds to a price per m² of €5,116. Based on data from the DVF (Demand for Property Value), the median price per m² for apartments in the Cannet area is approximately €4,500. Thus, this apartment is offered at a price 13.7% higher than the market median.

Over the last 36 months, apartment prices in the region have seen an increase of about 5%, due to growing demand and the attractiveness of the area. Properties with swimming pools and outdoor spaces, like this one, are particularly sought after.

Estimation based on average public data from the sector.

For a purchase at €172,000, the notary fees are estimated between 7% and 8%, or approximately €12,040 to €13,760. This brings the total acquisition cost to approximately €184,040 to €185,760.

Loan Simulation

With a contribution of 10% (or €17,200), the borrowed amount would be €154,800. At the current average rate of 3.4% over 20 years, the monthly payment would be around €887.

Rental Yield

If this apartment is rented at an estimated price of €750 per month, the gross rental yield would be 5.2%. After deducting charges and property tax, the net yield could be around 4.5%.

The Energy Performance Diagnosis (DPE) indicates a class D, which means an estimated annual energy consumption of about 200 kWh/m². This corresponds to an estimated annual energy cost of about €670, based on an average electricity rate of €0.33/kWh.

Rental Bans

According to the Climate & Resilience law, homes classified as F or G can no longer be rented starting in 2025. This apartment, classified as D, will not be subject to these restrictions.

Renovation Cost

To improve the energy class to C, renovation work is estimated between €10,000 and €15,000, depending on the characteristics of the property and the solutions chosen. Aids such as MaPrimeRénov' can be mobilized to reduce the cost of the work.

The apartment is located in the Notre Dame des Anges neighborhood in Le Cannet, in close proximity to several amenities, including supermarkets, schools, and healthcare services.

Transportation

Public transport is accessible with several bus lines within 500 meters. Cannes train station is about 3 km away, providing quick access to Nice and other cities on the Côte d'Azur.

Demographics and Quality of Life

The neighborhood is characterized by a predominantly middle-class population, with a median income of around €2,300 per month. The living environment is pleasant, with green spaces and a calm atmosphere, promoting a good quality of life.

Le Cannet is located in a low flood risk area, according to Géorisques data. However, it is important to check for any easements or zoning restrictions as part of the purchase.

Local Urban Plan and Zoning

The Local Urban Plan (PLU) of Le Cannet imposes certain constraints on construction and renovations. It is recommended to consult urban planning documents to ensure compliance with the proposed projects.

Rent Control

If this apartment is intended for rental, it is subject to the rent control regulations in effect in the municipality. Rent ceilings must be respected, which can impact rental profitability.

By comparing this apartment with other similar properties in the neighborhood, it is noted that the price per m² is higher than the market median. Apartments of comparable size generally sell for between €4,500 and €5,000 per m².

Advantages and Disadvantages

The advantages of this apartment include its proximity to amenities, the pool, and a pleasant living environment. On the other hand, the price is higher than the median, which may be a deterrent for some buyers.

Negotiation Margin

Given the current demand in the market, a negotiation margin of around 5% could be considered, but this will depend on buyer interest and the duration of the listing.