3-room apartment 54 m² for sale Cannes - €320,000

The displayed price for this apartment is €320,000 for an area of 54.46 m², which corresponds to a price per m² of €5,867/m². Based on average public data from the sector, the median price of apartments in Cannes is estimated at around €5,500/m², placing this apartment above the market median by 6.7%.

Over the last 12 months, apartment prices in Cannes have seen an increase of about 3%, according to DVF (Demand for Land Value) data from the DGFiP. This upward trend is supported by sustained demand in the Cannes real estate sector, particularly due to the city's attractiveness to investors and residential buyers.

In terms of positioning, this apartment is located in the Croix des Gardes area, which is known for its pleasant living environment and unobstructed views. This neighborhood is popular for its proximity to beaches and amenities, contributing to its valuation.

For a purchase at €320,000, notary fees are estimated between 7% and 8% for an old property, approximately €22,400 to €25,600, bringing the total acquisition cost to around €342,400 to €345,600.

Considering a loan at a current average rate of 3.4% over 20 years with a down payment of 10% (€32,000), the borrowed amount would be €288,000. Monthly payments would be around €1,700 per month, excluding insurance.

For a rental investment, the gross rental yield is estimated at 4.5% based on a monthly rent of €1,440 (calculated based on average rents in the area). After deducting charges and property tax, the net yield could be around 3.5%.

The apartment is classified DPE D, indicating an estimated annual energy consumption between 151 and 230 kWh/m². The annual energy cost is therefore estimated between €800 and €1,200, according to current electricity rates.

According to the Climate & Resilience law, properties classified D will no longer be able to be rented starting in 2028. To improve the DPE class, energy renovation work may be considered, with an estimated cost between €10,000 and €20,000 depending on the extent of the work.

Aid such as MaPrimeRénov' and Energy Savings Certificates (CEE) can be mobilized to finance part of this work, with amounts ranging from €1,500 to €7,000 depending on income and the nature of the work.

The apartment is located in the Croix des Gardes neighborhood, which is well served by public transport, notably by bus line 1 connecting to downtown Cannes in about 15 minutes. The SNCF train station is about 2 km away, offering connections to Nice and Marseille.

The neighborhood also offers easy access to amenities, with several supermarkets, bakeries, and restaurants within a 10-minute walk. Primary and secondary schools are also nearby, making it an attractive area for families.

In terms of quality of life, the neighborhood is appreciated for its green spaces, with the Croix des Gardes park nearby, offering hiking trails and panoramic views of the bay of Cannes.

The Cannes area is subject to flood risks, particularly in areas close to the sea. According to Géorisques data, the Croix des Gardes neighborhood presents a moderate flood risk.

Regarding the Local Urban Planning Plan (PLU), it is important to check the current construction and development rules, particularly regarding possible extensions or facade modifications. Mandatory technical diagnostics must also be carried out before the sale, including the DPE, risk assessment, and asbestos presence.

Finally, it is recommended to inquire about rent control if the apartment is intended for rental, as rent ceilings may apply according to local regulations.

This apartment is positioned above the median of the Cannes market, with a price per m² of €5,867, compared to the median of €5,500/m². Similar properties in the Croix des Gardes neighborhood show prices ranging from €5,200 to €6,000 per m², depending on their condition and exposure.

The advantages of this apartment include its large 11 m² balcony, two parking spaces, and generally good condition. However, the disadvantages may be related to the DPE D class, which may require renovation work to improve energy efficiency and meet future regulatory requirements.