Real estate in Los Angeles. Prices for property in Los Angeles
Los Angeles, one of the biggest cities in the USA, is also one of the world's top five real estate investment destinations. Large companies and private investors who buy real estate in Los Angeles choose apartment buildings, offices, shopping malls and industrial facilities. The city is attractive as both the prices and rental rates are on the rise here.
Bel-Air together with Beverly Hills and Holmby Hills constitute the Platinum Triangle of neighbourhoods that accommodate local billionaires. Properties in Los Angeles are expensive but not exorbitant. Houses in California as well as apartments in Atherton and Los Altos are the most upmarket. These properties can sell for $800,000.
The prices of mansions vary by neighbourhood, averaging at $2.3M in Bel-Air, $1.2M in Hollywood Hills and $560,000 in the more modest North Hills. Prices for the most popular property for sale in Los Angeles grow about 7% per year. The towns adjoining Los Angeles like Beverly Hills, West Hollywood, Burbank and Santa Monica are also popular for buying, selling and renting properties.
20M tourists visit this Californian city annually. There are tens of thousands of nightclubs, restaurants, cafes, bars and real estate opportunities in the city.