3-room apartment 68 m² for sale Le Cannet - €369,000

The displayed price for this apartment is €369,000 for an area of 68 m², which corresponds to a price per m² of €5,426.47.

Based on data from the DVF (Demand for Property Value) for the municipality of Cannet, the median price per m² for apartments in this area is approximately €4,800 (source: DVF, consulted in 2023). This property is therefore positioned above the market median, with a gap of 13.05%.

In terms of trend, apartment prices in the Cannet sector have increased by about 5% over the last 12 months, according to data from INSEE and notaries. This trend may be attributed to the growing demand for real estate in attractive urban areas, particularly due to rising prices in Cannes, which borders Cannet.

For a purchase at €369,000, notary fees for an old property are estimated between 7% and 8%. Taking an estimate at 7.5%, the notary fees would amount to approximately €27,675.

The total acquisition cost would therefore be €396,675.

Regarding financing, with a contribution of 10% (or €36,900), the amount borrowed would be €332,100. At the current average rate of 3.4% over 20 years, the monthly payment would be around €1,800, excluding insurance.

For a rental investment, with a gross rental yield estimated at 5% (based on average rents of €1,800 per month in the region), the net yield after charges and taxes could be around 3.5%.

The apartment is classified D on the energy performance scale, indicating an estimated annual energy consumption of about 230 kWh/m² (source: ADEME).

The annual energy cost is therefore estimated at around €1,500 (calculation based on an average rate of €0.15/kWh).

According to the Climate and Resilience Law, properties classified F or G will no longer be able to be rented starting in 2025. This property, being classified D, will not be affected by this ban.

To improve the energy class to C, energy renovation work is estimated between €10,000 and €15,000, with possible aids such as MaPrimeRénov' (up to €7,000) and Energy Savings Certificates (CEE).

The apartment is located near several bus lines, with easy access to the tram network of Cannes, about 15 minutes by car. The nearest train station is Cannes, approximately 5 km away.

Regarding amenities, the neighborhood offers a variety of shops, schools, and health services. The median household income in Le Cannet is around €30,000 per year, which is slightly above the national average (source: INSEE).

The quality of life in Le Cannet is generally considered good, with green spaces and sports facilities, but urban development projects are underway, which could change the dynamics of the neighborhood in the coming years.

Le Cannet is classified as a low flood risk area according to Géorisques data. However, it is important to check for any easements on the property, particularly regarding rights of way or construction restrictions.

Rental regulations are constantly evolving, especially with the rent control that may apply in certain areas. It is advisable to inquire about the current rent ceilings in the Cannet sector, which are currently set at €15.80/m² for apartments (source: Prefecture of Alpes-Maritimes, consulted in 2023).

Compared to other 3-room apartments in Le Cannet, this property is positioned above the market median. Similar apartments typically sell between €340,000 and €380,000, depending on their condition and precise location.

The advantages of this apartment include its large 25 m² terrace and access to a swimming pool, which is a plus in a market where outdoor spaces are highly sought after. On the other hand, the drawback could be its D rating in the energy performance certificate (DPE), which may require renovation work to improve energy efficiency.