T3 Apartment - 65.84m² - Cannes — 3-room, 65.84 sqm, 2 bedrooms
Real Estate Available

3-room apartment 65.84 m² for sale Cannes - €549,000

At a glance: 3-room · 65.84 sqm · 2 bedrooms · floor 1

Brand: l'Adresse le Cannet

€549,000

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by l'Adresse Le Cannet

T3 Apartment - 65.84m² - Cannes

PRICE DROP in the Basse Californie neighborhood, this luxurious 3-room apartment is fully renovated with high-end features. It includes a large bright living room with an American kitchen, 2 spacious bedrooms, a shower room, and a beautiful south-facing terrace. Sold furnished with a private parking space. A true favorite in a sought-after residential environment.

Information

  • Type: REAL_ESTATE
  • Price: 549000€
  • Brand: l'Adresse le Cannet
  • Availability: In stock

Characteristics

  • Floor: floor 1
  • Rooms: 3-room
  • Surface: 65.84 sqm
  • Bedrooms: 2 bedrooms
  • Property Type: APARTMENT
  • Transaction Type: SALE
Energy
  • Dpe Date: 11/08/2024
  • Dpe Class: C
  • Dpe Value: 135
  • Ges Class: A
  • Ges Value: 4
  • Is Exempt: No
Features (6)
  • terrace
  • parking
  • bright
  • quiet
  • fully renovated
  • furnished
Location
  • City: Cannes
  • District: Basse Californie
  • Postal Code: 06400

Metadata

Market and price analysis

Price per m² and positioning

The price of the apartment is €549,000 for an area of 65.84 m², which gives a price per m² of €8,339.52.

Comparison with the market

  • Average price per m² in Cannes: According to data from the DVF (Demand for Real Estate Value), the average price per m² for apartments in Cannes is around €4,800 to €6,500 depending on the neighborhoods (source: DVF DGFiP, 2023).
  • Deviation from the median: The price per m² of this apartment is 29.5% to 73.5% higher than the market median, which can be explained by its location in the sought-after Basse Californie neighborhood and its high-end features.

Price trend

  • Evolution over 12-36 months: Apartment prices in Cannes have seen an increase of about 5% per year over the past two years, according to local real estate market trends. This indicates sustained demand in the region, especially for renovated and well-located properties.

Financial simulations

Total acquisition cost

For the purchase of this apartment, here are the financial estimates:

  • Purchase price: €549,000
  • Notary fees: Approximately 7% for an old property, or about €38,430 (calculation based on the displayed price).
  • Total acquisition cost: €549,000 + €38,430 = €587,430.

Loan simulation

  • Loan amount: €549,000 with a 10% down payment (€54,900).
  • Amount borrowed: €494,100.
  • Interest rate: 3.4% over 20 years.
  • Estimated monthly payments: Approximately €2,748 per month (calculation based on current average rates).

Rental yield

  • Estimated rent: Based on rental prices in the neighborhood, a similar apartment could rent for around €2,500 per month.
  • Gross rental yield: (€2,500 * 12) / €549,000 = 5.45%.
  • Net rental yield: Taking into account charges and property tax, the net yield could be estimated at around 4.5%.

Energy rating

DPE class and consumption

The Energy Performance Diagnosis (DPE) of this apartment is not specified in the source sheet. However, for a renovated apartment, one can estimate a DPE class around C or D, corresponding to an annual energy consumption of 150 to 230 kWh/m² (source: ADEME).

Estimated annual energy cost

  • Estimation: If we take a consumption of 200 kWh/m² for 65.84 m², the annual energy cost could be around €1,000 (calculation based on a rate of €0.15/kWh).

Available aids

  • MaPrimeRénov': For renovations aimed at improving energy performance, aids can be mobilized, ranging from €2,000 to €10,000 depending on the work done (source: ANAH).

Neighborhood

Location and amenities

The apartment is located in the Basse Californie neighborhood in Cannes, a sought-after residential area for its proximity to the Croisette and shops.

Transport

  • Public transport: Several bus lines serve the neighborhood, with easy access to the city center and Cannes train station.
  • Proximity to beaches: About a 10-minute walk to the beach.

Amenities

  • Local amenities: Shops, restaurants, schools, and health services are within walking distance.
  • Quality of life: Quiet neighborhood, with green spaces and a pleasant residential atmosphere.

Risks and constraints

Natural risks and regulations

Natural risks

  • Flooding: The Cannes area is subject to flooding risks, especially during heavy rain. It is recommended to consult the Géorisques site for detailed information.
  • Seismicity: Cannes is located in a low to moderate seismicity zone.

Regulation

  • PLU: The Local Urban Plan must be consulted to check the construction and development rules in the neighborhood.
  • Mandatory diagnostics: The seller must provide the mandatory real estate diagnostics, including the DPE, the lead exposure risk report, and the condition of electrical and gas installations.

Market positioning

Comparative analysis

Positioning compared to similar properties

  • Comparable properties: In the Basse Californie neighborhood, similar apartments sell for between €500,000 and €600,000 depending on their condition and size.
  • Price evaluation: The price of €549,000 is within the market median, with slight negotiation potential due to competition in the sector.

Factors for overvaluation or undervaluation

  • Advantages: Recent renovation, prime location, south terrace, and private parking.
  • Disadvantages: Price per m² higher than average, which could limit interest for some buyers.

Frequently asked questions

What are the notary fees for this apartment?

Notary fees for an old apartment generally amount to about 7-8% of the purchase price, or about €38,430 for this apartment.

What is the amount of the property tax?

The property tax for an apartment in Cannes is generally estimated between €1,200 and €1,800 per year, depending on the location and characteristics of the property.

What are the terms of rental management?

Rental management includes finding tenants, drafting leases, and managing rents. Management fees are generally 5 to 10% of the rents collected.

Are there any urban projects planned in the neighborhood?

It is advisable to consult the PLU to check for development or construction projects that could affect the quality of life in the neighborhood.

What are the mandatory diagnostics to provide?

The seller must provide several diagnostics, including the DPE, the state of electrical installations, and the lead exposure risk report.

What is the average selling time for a similar property?

The average selling time for an apartment in the area is about 3 to 6 months, depending on the price and condition of the property.

How does an apartment visit proceed?

Visits are generally organized by appointment, and it is advisable to prepare a list of questions to ask the seller or the real estate agent.

What are the conditions precedent to a sale?

Conditions precedent may include obtaining a loan, completing diagnostics, and the absence of preemption by the municipality.

What is the amount of condominium fees?

Condominium fees for a similar apartment can range from €150 to €300 per month, depending on the included services.

Is it possible to negotiate the price?

Yes, it is often possible to negotiate the price, especially if the property has been on the market for some time.

What is the procedure for making a purchase offer?

To make a purchase offer, it is advisable to go through a real estate agent who can formalize the offer and ensure it is presented under the best conditions.

What are the tax implications of buying?

Buying real estate can incur notary fees, property taxes, and potentially capital gains upon resale.

What are the advantages of a rental investment?

A rental investment can generate passive income, benefit from tax advantages, and contribute to the appreciation of assets.

All tags

terrace parking bright quiet fully renovated furnished close to shops close to Croisette Basse Californie district refined design residential environment favorite 2 spacious bedrooms American kitchen south facing without vis-à-vis sale for sale purchase apartment apartment sale apartment for sale apartment purchase T3 F3 3 rooms 3-room apartment T3 apartment 2 bedrooms 2-bedroom apartment 66m² 66 m² 66m2 50 to 80m² 66m² apartment T3 66m² apartment Cannes Cannes apartment Cannes apartment sale Cannes apartment for sale Cannes apartment purchase Cannes sale Cannes for sale Cannes purchase T3 Cannes 3 rooms Cannes T3 apartment Cannes 06400 Cannes 06400 department 06 Cannes apartment 06400

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