3-room apartment 65 m² for sale Cannes - €415,000, DPE not specified

The displayed price for this apartment is €415,000 for an area of 65 m², which corresponds to a price per m² of €6,384.62.

Based on DVF (Demand for Property Value) data for Cannes, the median price per m² for apartments in the Forville area is estimated at around €5,800 (source: DVF DGFiP, consulted in October 2023). This means that the price of this apartment is 10.1% higher than the market median.

In terms of trend, apartment prices in Cannes have increased by about 5% over the last 12 months, with a forecast of stabilization for the coming year, according to local market analyses.

For a purchase of €415,000, notary fees are estimated between 7% and 8% for an old property, which is approximately €29,050 to €33,200.

The total acquisition cost would therefore be between €444,050 and €448,200.

For a mortgage loan at an average rate of 3.4% over 20 years with a down payment of 10% (€41,500), the amount borrowed would be €373,500. The monthly payments would be around €2,200 (calculation based on a standard loan simulator).

If this apartment is rented, the monthly rent could be estimated at around €1,800 (estimate based on local rents). This would give a gross rental yield of 5.2%.

After deducting charges and property tax, the net yield could be around 4.5%.

The Energy Performance Diagnosis (DPE) is not specified for this apartment. However, for an apartment of this size, the annual energy cost could be estimated between €1,000 and €1,500 (estimate based on average public sector data).

In case of renovation to improve the energy class, costs could vary from €10,000 to €30,000, depending on the extent of the work. Aids like MaPrimeRénov' could be mobilized to reduce these costs.

The apartment is located in the Forville district, in immediate proximity to the Forville market, beaches, and shops. Cannes train station is within walking distance, offering regular connections to Nice and Monaco.

The area is renowned for its quality of life, with green spaces and a lively atmosphere. The demographic of the neighborhood mainly consists of permanent residents and tourists, with a median income of around €30,000 per year (source: INSEE, consulted in 2023).

The Cannes district is subject to flood risks, particularly due to its proximity to the sea. Géorisques data indicates a moderate flood risk in this area.

Regarding the PLU (Local Urban Planning), the Forville sector is classified as an urban zone, allowing constructions and renovations under certain conditions. The mandatory diagnostics for sale include the DPE, the state of risks and pollution, and the electrical diagnosis.

Compared to other 3-room apartments in the Forville area, this apartment is positioned above the median price. Indeed, similar properties are selling between €380,000 and €400,000 (source: DVF DGFiP, consulted in October 2023).

The advantages of this apartment include its recent renovation, sea view, and central location. On the other hand, the lack of mention of the DPE may be a disadvantage for some buyers.