4-room apartment 91 m² for sale in Le Cannet - €510,000

The listed price of the apartment is €510,000 for an area of 91 m², which gives a price per m² of €5,607. Based on average public sector data, the median price of apartments in the Le Cannet neighborhood is estimated at €4,800 per m², indicating that this property is above the market median by 16.8%.

Over the last 12 months, apartment prices in the area have increased by about 5%, reflecting a continuous upward trend, particularly in sought-after neighborhoods like Mérimée. Factors influencing this trend include the appeal of the location, the quality of infrastructure, and the growing rental demand.

For a purchase price of €510,000, notary fees for an old property are estimated between 7% and 8%, or approximately €35,700 to €40,800.

The total acquisition cost would therefore be between €545,700 and €550,800.

Considering a mortgage at an average rate of 3.4% over 20 years with a contribution of 10% (€51,000), the amount borrowed would be €459,000. The monthly payments would be around €2,600.

In terms of rental yield, if the apartment is rented for €1,800 per month, the gross yield would be 4.24%. After deducting charges and property tax, the net yield could drop to around 3.5%.

The DPE class of the apartment is not specified in the provided data. However, for an apartment of this size and configuration, an annual energy cost can be estimated at around €1,200 to €1,500, depending on energy efficiency and consumption habits.

According to the Climate & Resilience law, apartments classified as F or G can no longer be rented starting in 2025. Therefore, it is crucial to check the DPE class to avoid future restrictions.

Assistance such as MaPrimeRénov' or Energy Savings Certificates (CEE) can be mobilized for energy renovation work.

Le Cannet is well served by public transport, with several bus lines and easy access to the nearby tram line. The nearest train station is about 10 minutes by car.

The Mérimée neighborhood, where the apartment is located, is known for its tranquility and amenities. There are local shops, schools, and green spaces. The demographics of the neighborhood are predominantly composed of families and young professionals, with a median income estimated at €30,000 per year.

The quality of life is considered good, with a low crime rate and easy access to healthcare services.

Le Cannet is located in an area with a low risk of flooding, but it is important to consult the Géorisques data for detailed information.

The Local Urban Planning Plan (PLU) must be checked to ensure that no constraints apply to the property, particularly in terms of construction or modifications.

Regarding rental regulations, it is essential to know the current rent ceilings, especially if the property is intended for rental. Currently, the median rent for a 4-room apartment in the area is €1,800, which corresponds to the desired rent range for this property.

By comparing this apartment with other similar properties in the Le Cannet area, it is observed that the price per m² is higher than the market median.

Comparable 4-room apartments sell for between €4,500 and €5,200 per m², placing this apartment in a higher price range. The advantages of this property include its pool view, terrace, and potential for creating independent housing. However, the high price could be a deterrent for some buyers, especially those looking for a lower-cost rental investment.