3-room apartment 64 m² for sale Le Cannet - €354,000

The listed price for this apartment is €354,000 for an area of 64.06 m², which gives a price per m² of approximately €5,517/m².

Based on DVF (Demand for Land Value) data for the municipality of Le Cannet, the median price per m² for apartments is approximately €4,800/m², indicating that this apartment is above the market median by 15%.

Over the last 12 months, apartment prices in Le Cannet have seen an increase of about 5%, with a continuous upward trend since 2021.

Estimation based on average public sector data.

This apartment is positioned in the high-end segment of the Le Cannet real estate market, benefiting from a pool and an unobstructed view. However, it requires renovation, which could influence its future valuation.

Advantages:

• Quiet and sought-after location.
• Access to local amenities.

Disadvantages:

• Renovation needed which could incur additional costs.
• Price above the market median.

For the purchase of this apartment at €354,000, notary fees are estimated between 7% and 8% for existing properties, or approximately €24,780 to €28,320.

The total acquisition cost would therefore be €378,780 to €382,320.

Loan simulation:

• Loan amount: €354,000
• Current average interest rate: 3.4% over 20 years
• Personal contribution: 10% (€35,400)

Monthly payments would be approximately €1,800 per month, with a total interest cost of about €72,000 over the loan term.

Estimation based on declared characteristics and current market rates.

Annual holding costs include:

• Property tax: Estimated at €1,200 per year, based on sector averages.
• Condominium fees: Approximately €2,000 per year, including maintenance of the pool and common areas.
• Home insurance: Approximately €300 per year.

The total annual holding cost would therefore be around €3,500.

The DPE class of this apartment is not specified in the listing, but it is important to note that apartments of this size in the region tend to have an energy consumption between 150 and 250 kWh/m²/year.

Estimated annual energy cost:

• Taking an average consumption of 200 kWh/m²/year and an electricity rate of €0.18/kWh, the estimated annual energy cost would be around €2,300.

Available aids:

• MaPrimeRénov': Aid for energy renovation work, amount varies depending on the work.
• CEE (Energy Savings Certificates): Aids available for energy performance improvement work.

Data not available at this date regarding the DPE.

Le Cannet is well served by public transport, with several bus lines nearby. The Cannes train station is accessible in 10 minutes by car.

Amenities nearby:

• Supermarkets, bakeries, and restaurants within 1 km.
• Primary schools and colleges nearby, with good academic results.
• Green spaces and parks for outdoor activities.

Neighborhood demographics:

• Median income: Approximately €30,000 per year.
• Composition: Residential neighborhood with a population mainly of families and retirees.

Le Cannet is located in a low flood risk area, according to Géorisques data.

PLU and zoning:

• The property is located in a residential area, with construction and renovation rules to follow.
• Check for any easements on the property.

Regulatory context:

• Rent control: Not applicable in this area.
• Mandatory diagnostics: DPE, lead, electricity, gas.

Points of vigilance:

• Check the state of the condominium and any planned works.
• Ensure proper management of condominium fees.