Homes for sale
in Beverly Hills priced over $10 million are selling faster than in any other area in the nation. This shows that the market for Los Angeles area luxury homes is strong and the demand shows no sign of slowing down.
A major part of what is driving the demand for Los Angeles luxury real estate comes from foreign investors who are looking for second homes in the United States. Buyers from Asia and Europe see the prices of real estate in Beverly Hills as a bargain. In Singapore and London, for example, homes in the prime city areas sell for an average of $3,000 to $4,000 per square foot as compared to Los Angeles’ prices of $1,000 to $1,500 per square foot.
Los Angeles and Beverly Hills houses are also good investments for local investors who recognize the increased demand for turnkey spec homes offering the best luxury amenities money can buy. Even local buyers understand the competitive property values in Los Angeles and are taking advantage of low interest rates and discounted prices. The recent increase in the overall stock market has helped the local real estate market, as well. Stable real estate values have led to a strong local economy and job growth.
A home for sale in Bel-Air sold last year for $53 million, making it one of the highest priced sales in the nation. There are currently more listings for houses for sale in Beverly Hills priced over $10 million than any place else in the country. These sales are boosting the market for all homes for sale in Los Angeles and the surrounding areas.
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Please contact Susan Andrews at 323-829-8811 for more information about luxury homes for sale in Beverly Hills, Bel-Air and the surrounding areas.
Susan Andrews | Estates Director
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