3-room Apartment - 78.27m² - Cannes — 78.27 sqm, 2 bedrooms, 1 bathroom
Real Estate Available

3-room apartment 78.27 m² for sale Cannes - €385,000

At a glance: 78.27 sqm · 2 bedrooms · 1 bathroom · built 1900

€385,000

apartment real estate Cannes 3 rooms
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by l'Adresse Cannes

3-room Apartment - 78.27m² - Cannes

In a bourgeois villa in the city center; a south-facing duplex apartment. Just 3 minutes walk from Rue d'Antibes; this apartment is ideally located for a primary residence, secondary home, or rental investment. This atypical property consists of a living room, an open kitchen, a shower room with toilet, and a balcony on the 1st level, two bedrooms, a bathroom with toilet, and a patio with a removable roof on the 2nd level. This apartment also benefits from private parking.

Information

  • Type: REAL_ESTATE
  • Price: 385000€
  • Availability: In stock

Features

  • surface: 78.27 m²
  • bedrooms: 2
  • bathrooms: 1
  • shower_rooms: 1
  • parking: private
  • condition: Good Condition
  • year_built: 1900

Pricing

  • Regular Price: 385000€
  • Currency: EUR

Characteristics

  • Surface: 78.27 sqm
  • Bedrooms: 2 bedrooms
  • Bathrooms: 1 bathroom
  • Year built: built 1900

Metadata

Market and price analysis

Price per m² and positioning

The displayed price for this apartment is €385,000 for an area of 78.27 m², which translates to a price per m² of €4,913.37. Based on data from the DVF (Demand for Property Value) for Cannes, the median price per m² for apartments in the area is approximately €4,500 (source: DVF DGFiP, consulted in October 2023). This places this apartment above the market median in Cannes, which can be justified by its atypical features and its location near rue d'Antibes.

Price Trend

Over the last 12 months, apartment prices in Cannes have seen an increase of approximately 5% (source: INSEE, consulted in October 2023). This upward trend is supported by increased demand for quality real estate in the region, particularly due to Cannes' tourist appeal.

Property Positioning

This apartment stands out due to its south-facing exposure, its duplex layout, and its private parking, features sought after by potential buyers, especially those interested in a rental investment or a second home. However, the high price may be a barrier for some buyers, particularly those with a limited budget.

Financial simulations

Total Acquisition Cost

For a purchase of €385,000, notary fees, estimated between 7% and 8% for an old property, would amount to approximately €26,950 to €30,800 (estimate based on current professional scales). The total acquisition cost would therefore be between €411,950 and €415,800.

Loan Simulation

Considering a down payment of 10% (i.e. €38,500) and an average interest rate of 3.4% over 20 years, the monthly payments would be around €1,800 (calculated from the displayed price and declared characteristics). The total cost of the loan would be approximately €103,000 over the duration of the loan.

Rental Yield

If this apartment is rented at a rate of €1,500 per month, the gross rental yield would be 4.68% (calculated based on the purchase price). After deducting charges and property tax, the net yield could drop to around 3.5%, which remains attractive for a rental investment in the region.

Energy rating

DPE Class and Consumption

The Energy Performance Diagnosis (DPE) of this apartment is classified as D, indicating moderate energy consumption. On average, the annual energy cost for an apartment of this size in this class is estimated at around €1,200 (estimate based on average public sector data).

Rental Bans

According to the Climate and Resilience law, apartments classified as F or G can no longer be rented starting in 2025. This apartment, being classified as D, is not subject to this ban.

Renovation Cost

To improve the energy class from D to C, renovation work may be necessary, estimated between €8,000 and €15,000 (indicative range based on current professional scales). Assistance such as MaPrimeRénov' can be mobilized to reduce the cost of the work.

Neighborhood

Transportation and Amenities

The apartment is located near Rue d'Antibes, a major shopping artery in Cannes, providing easy access to various shops, restaurants, and services. Public transport is also accessible, with the SNCF train station about 15 minutes on foot. The proximity to the beaches is a major asset for residents and tenants.

Neighborhood Demographics

Cannes is a sought-after city, with a median household income of approximately €30,000 per year (source: INSEE, consulted in October 2023). The population is diverse, with a high proportion of seasonal residents, especially during the Cannes Film Festival.

Urban Projects

Urban development projects are underway in the area, aimed at improving infrastructure and enhancing the attractiveness of Cannes. This could have a positive impact on the valuation of real estate in the sector.

Risks and constraints

Natural Risks and Regulations

Cannes is located in a moderately seismic zone, with a low risk of flooding according to Géorisques data. However, it is important to check local regulations regarding construction and renovations, particularly concerning the PLU (Local Urban Plan).

Rent Control

Currently, there is no rent control in Cannes, but this could change with housing regulations. Property owners should stay informed about legislative developments to avoid surprises when renting out their property.

Mandatory Diagnostics

All real estate diagnostics (DPE, lead, asbestos, etc.) must be completed before sale or rental. It is crucial to ensure that these documents are up to date and comply with legal requirements.

Market positioning

Comparison with Similar Properties

This apartment is positioned above the market median in Cannes, with a price per m² of €4,913.37 compared to the median of €4,500. Features such as the duplex, private parking, and proximity to Rue d'Antibes justify this positioning. However, it is essential to consider the competition, particularly other similar apartments in the neighborhood.

Factors for Overpricing

Elements that may justify an overpricing include the central location, the quality of finishes, and additional amenities like parking. Conversely, factors for underpricing could include necessary renovation work or potential noise disturbances due to proximity to Rue d'Antibes.

Negotiation Margin

Given the positioning above the median, the negotiation margin may be limited. However, it is advisable to assess competing offers to determine an appropriate negotiation strategy.

Frequently asked questions

What are the notary fees for this purchase?

The notary fees for an old property like this apartment are estimated to be between 7% and 8% of the purchase price, which is approximately €26,950 to €30,800.

What is the potential rental yield?

The gross rental yield is estimated at 4.68% if the apartment is rented for €1,500 per month.

What renovation work is necessary?

To improve the DPE rating from D to C, work is estimated between €8,000 and €15,000.

What are the characteristics of the neighborhood?

The apartment is located near rue d'Antibes, with easy access to shops, transport, and beaches.

Are there natural risks in the region?

Cannes has a low flood risk and is in a moderate seismic zone according to Géorisques data.

What property diagnostics are required?

All mandatory diagnostics (DPE, lead, asbestos) must be completed before the sale or rental.

How does property management work in Cannes?

Property management in Cannes can be handled by specialized agencies, offering services tailored to property owners.

What is the median price of apartments in Cannes?

The median price of apartments in Cannes is approximately €4,500 per m².

How is the rental market regulated in Cannes?

Currently, there is no rent control, but this could change with regulation.

What are the advantages of investing in Cannes?

Cannes is a sought-after city with a strong rental demand, making it an attractive place for investors.

What assistance is available for renovations?

Assistance such as MaPrimeRénov' can be mobilized to reduce the cost of energy renovation work.

What is the average selling time of a property in Cannes?

The average selling time of a property in Cannes is about 3 to 6 months, depending on the market.

What are the selection criteria for a real estate agency?

It is advisable to choose an agency with a good understanding of the local market, positive customer reviews, and tailored services.

How does a virtual tour work?

Virtual tours allow you to discover the property remotely, providing an immersive and interactive experience.

What are the benefits of home staging?

Home staging enhances a property by showcasing it in the best light, thereby attracting more buyers.

Annotated gallery

Description by image

The image shows a bourgeois villa located in the heart of Cannes. The facade of the building is in a classical style, with wrought iron balconies and shuttered windows. The villa is surrounded by a well-maintained garden, with lush hedges and trees. In the foreground, there is a parking space where two cars are parked, one of which is silver. The sky is clear, indicating a beautiful sunny day. The overall scene exudes a calm and pleasant atmosphere, typical of the residential neighborhoods of Cannes.
This photo features a bright living room of a duplex apartment. The floor is covered with terracotta tiles, while the walls are textured and painted white. A beige sofa occupies part of the space, accompanied by a small black table. A window with red curtains lets in natural light, offering a view of the outside. In the corner, an electronic piano is visible, as well as a television placed on a wooden cabinet. The overall ambiance is warm and welcoming, with decorative elements such as a piece of art hanging on the wall.
This image shows a different view of the same living room, highlighting the layout of the space. The tiled floor and textured walls are visible again. The beige sofa is still present, with cushions arranged on it. To the left, a storage unit with shelves is visible, containing books and decorative objects. A television is placed on a wooden dresser. Natural light enters through the window, creating a bright atmosphere. Decorative elements, such as the artworks hanging on the walls, add a personal touch to the space.
This photo presents a bedroom in the attic, with a sloping ceiling. The floor is covered with terracotta tiles, and the walls are painted white, with a visible texture. A bed is set up, covered with a striped duvet, and a faux fur pillow is placed on top. To the right, a mirror on a wardrobe reflects the space, and a modern-style armchair is visible. A skylight allows natural light to enter, creating a bright ambiance. A decorative panel is hung on the wall, adding a personal touch to the bedroom.

All tags

apartment real estate Cannes 3 rooms

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