3-room apartment 51 m² for sale Cannes - €549,000, energy performance diagnosis not specified

The listed price for this apartment is €549,000 for 51.01 m², which translates to a price per m² of €10,769 (calculated from the listed price and declared characteristics). This amount is above the market median in Cannes, which is around €5,000 to €7,000 per m² according to DVF (Demand for Property Value) data for 2023.

Over the last 12 months, prices in Cannes have seen an increase of about 3.5% compared to the previous year, with a continuous upward trend in sought-after neighborhoods like Banane.

The positioning of this apartment is therefore above the market median, which can be justified by its central location and modern features.

For a purchase price of €549,000, notary fees are estimated between 7% and 8% for an old property, which is approximately €38,430 to €43,920 (estimate based on current professional scales).

The total acquisition cost would therefore be between €587,430 and €592,920.

Regarding financing, with a contribution of 10% (€54,900), the amount to be financed would be €494,100. At an average interest rate of 3.4% over 20 years, the monthly payments would be approximately €2,800 (calculation based on current rates).

For a rental investment, the gross yield could be estimated at 4% if the monthly rent is set at €2,200, which would result in a positive cash flow after deducting charges and property tax.

The Energy Performance Certificate (EPC) is not specified for this apartment. Generally, for an apartment of this size, the annual energy cost can vary between €800 and €1,200 depending on the energy class (estimate based on average public sector data).

According to the Climate & Resilience law, apartments classified as F or G can no longer be rented starting in 2025. Therefore, it is important to check the EPC class of this property before any investment.

Assistance such as MaPrimeRénov' can be mobilized to improve energy performance, with amounts that can go up to €20,000 depending on the work to be done.

The apartment is located in the lively Banane district of Cannes, in close proximity to the Palais des Festivals, the SNCF train station, and the Croisette.

Public transport is well served with several bus lines and the SNCF train station less than 500 meters away.

The area also offers a variety of shops, restaurants, and services, making it a pleasant place to live. The demographics of the neighborhood are predominantly made up of professionals and tourists, with a median income of around €30,000 per year (source: INSEE, 2023).

The quality of life is generally considered good, with green spaces nearby and easy access to the beach.

The property is located in an urban area, which implies a low risk of flooding according to Géorisques data. However, it is important to check the easements and the PLU (Local Urban Planning) to ensure compliance of any potential work.

No major regulatory constraints are reported for this neighborhood, but it is advisable to inquire about rent control, which may vary according to local policies.

Mandatory diagnostics must be provided during the sale, including the energy performance certificate (DPE), the lead exposure risk report, and the condition of electrical and gas installations.

This apartment is positioned above the market median in Cannes, where prices generally range between €5,000 and €7,000 per m².

The advantages of this apartment include its central location, terrace, and modern features. On the other hand, the disadvantages may be the lack of an elevator and the absence of a DPE class mention, which may deter some buyers.

The negotiation margin is estimated at around 5% due to the high demand for properties in this area.