Los Angeles Housing Market – Beverly Hills, Bel Air, and Malibu
A city with a Mediterranean climate, ethnic diversity, entertainment, Hollywood industry, sprawling metropolis, and work opportunities are just a few reasons people prefer investing in the Los Angeles housing market. The famous country of Los Angeles, California, has a land area of 469 square miles with a population of 3,983,540. Within this area, it offers a variety of investment opportunities for real estate in Los Angeles. In this real estate market, you will easily find single-family residences, duplexes, condos, and townhomes. However, if you are in search of luxury real estate in Los Angeles, I can definitely assist you in discovering the best property. For the best luxury real estate in Los Angeles, you can consider investing in Beverly Hills, Bel Air, and Malibu
Although real estate in Los Angeles county is expensive, people from across the globe are investing in this market. Los Angeles real estate market trends indicate investment in luxury homes is at its peak. However, the purpose of investing varies from person to person. You might be searching for vacation homes or retiring homes. Whereas other investors might be in search of securing a legacy for themselves or their families, some are moving due to job transfers, and some are looking to shift to the newly constructed platinum triangle.
This year the real estate market is favorable because of its low-interest rates and high standards for showing and selling. If you are searching for a perfect house, but the crazy-high prices make you re-evaluate your decision, do not worry! Because I assure you the houses here are worth the money. You might be wondering if the prices are so high, the market will eventually go down in the future, but who can predict the exact time? With my years of experience in the real estate market, I believe that it is better to invest now than in the future because it is more likely that the same house you are interested in gets pricier next year. Moreover, during a downturn, luxury properties are a good investment than traditional real estate markets, as they remain desirable regardless of the market trends. In the long-term, real estate investment in Beverly Hills, Malibu, and Bel Air will be more profitable with steadier values making them safer investments than stocks.
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Luxury Real Estate in Los Angeles
Luxury real estate in Los Angeles is best known for its smaller, coveted communities on the west side, including Beverly Hills, Bel Air, and Malibu. I have broken these down to help you discover and select the best location for your investment.
When thinking of the most extravagant homes in Los Angeles, Beverly Hills pops into many minds. The exceptional real estate in Beverly Hills offers an abundance of architectural masterpieces, quality of life, entertainment, the best dining, and a shopping experience. The city is also famous for its tourist attractions, such as the Beverly Hills Hotel, Rodeo Drive, and its 90210 zip code. Beverly Hills is known to be the epitome of glamor and home to many Hollywood stars and high-profile investors from around the world. Being one of the top Beverly Hills luxury real estate agents, I can show you the way to enter this prestigious and elite neighborhood. You can subscribe to my newsletter for constant updates and be aware of the new opportunities that come in.
History of Beverly Hills
The history of Beverly Hills goes back to the ’90s. Initially, the area was being dug to find oil, but instead, water was found, leading to Beverly Hills’s formation. Actors Mary Pickford and Douglas Fairbanks started the trend of movie stars’ migration from Hollywood when they built their legendary home, Pickfair, causing a boom in the real estate market of Beverly Hills in the 1920s. It is home to numerous renowned celebrities, including Ellen DeGeneres, Taylor Swift, Adele, Jennifer Lawrence, Katy Perry, and many more. Hence, making it the most desired luxury real estate in Los Angeles.
Importance of Location Many people tend to choose Beverly Hills luxury real estate. But what is special about the place? Beverly Hills is transected east-west by three main boulevards. North of Sunset Boulevard, you will be able to reach the famous Beverly Hills Hotel. It is impossible for you to miss the Polo Lounge, pink bungalows, and luxurious mansions among the winding drives. Towards the south of the sunset boulevard, you will find flatlands comprising other expensive homes. Lastly, the area between Santa Monica Boulevard and Wilshire Boulevard contains shops, boutiques, and department stores. Furthermore, Beverly Hills is also a part of the Los Angles Platinum Triangle, categorized as the three B’s neighborhoods- with Bel Air to the north and Holmby Hills to the west. Therefore, the ease of accessibility makes Beverly Hills an exceptional city for residents.
Beverly Hills Nature Perseverance
Also, the nature of the city is fascinating enough for anyone to visit. The city’s landscapes are maintained impeccably, with palm trees lined on the sidewalks making it a perfect stroll in the morning with your dog. Beverly Hills real estate is filled with numerous parks, with the most famous Greystone Mansion. Besides, you can also find Beverly Garden Park, Franklin Canyon Park, Coldwater Canyon Park, Will Rogers Memorial Park, and many more. Beverly Hills is very attentive to its nature adorning its streets; hence it has received the title Tree City USA by the Arbor Foundation.
Real Estate Market of Beverly Hills
According to the data for January 2021, the typical home value in Beverly Hills is $3,697,253; in comparison to last year, home prices have increased by 7.7 percent. Buyers will find a variety of homes, from the breathtaking palatial chateau to the modest and traditional properties. Whether you are looking for your Hamptons home’s replica, a modern architectural property, a private gated estate, or affordable apartment buildings, Beverly Hills real estate offers you all. Additionally, for younger residents and upper-middle-class families, I would recommend the Santa Monica section. It is scattered with condos and smaller homes. Hence, it is the perfect location for youngsters and families who have come in for graduation or new jobs, respectively.
Life in Beverly Hills
Beverly Hills is the most famous area in Southern California, providing you with the most opulent lifestyle, privacy, convenience, fitness, and luxury. Moreover, it is also recommended for its excellent public and private schools and access to the city’s commerce and culture. Many parts of the city can also be hustling with tourists, giving you a real taste of the lifestyle in Beverly Hills. However, if you are looking for housing in comparatively low-profile areas, you can also opt for investing in the real estate of Bel Air and Malibu.
In the city of Los Angeles, Bel Air is ranked as the most prestigious residential community and amongst the most popular areas for home buyers. If you are looking to invest in magnificent luxury homes with canyon views, Bel Air is your best bet. The neighborhood is primarily residential with a bunch of shops in its 6.3 square miles area. It makes it a perfect neighborhood for high-profile investors who require privacy and beautiful scenery.
Location of Bel Air Neighborhood
Bel Air is located to the north of Beverly Hills, sandwiched between Beverly Crest and Brentwood, Holmby Hills on the east, and UCLA to the south of Sunset Boulevard. This location makes it an essential part of the Platinum Triangle. Bel Air has two entrances; one is called the “East Gate,” and the other is the “West Gate.” If you are planning to invest in larger homes for vacation or retirement purposes, you can look into the property available at the West Gate.
History of Bel Air
Bel Air was developed by Alphonzo Bell, the primary real estate developer of Los Angeles, in 1920. Since then, there are many properties developed by Alphonzo Bell in Bel Air. Even the streets in Bel Air were named by Bell’s wife after Italian themes, such as Bellagio, Copa de Oro, Cascada, St. Cloud, and St. Pierre when the neighborhood was annexed and sold in the 1930s.
Life in Bel Air
The grandeur and prestige of Bel Air are incomparable. It has a vast array of large, gated properties with ultimate privacy and immaculately designed residences. It is also home to industry leaders such as Elon Musk and former President of America Ronald Reagan. You will find ranch-style houses with dramatic views of the Los Angeles basin and Catalina island off the Pacific Ocean coast. The real estate of Bel Air is ideal for couples or bachelors in search of exceptional privacy and luxury real estate. The majority of Bel Air residents are professionals, and most of the people are homeowners rather than tenants. It is a prime location if you are looking for seclusion and privacy in the busy city of Los Angeles with accessibility to all the amenities within a few minutes drive.
The 40,000-square foot, Georgian-style mansion, known as Casa Encantada, owned by Gary Winnick, is also situated in Bel Air, with a market value of around $225 million. Moreover, Bel Air is also home to the largest single-family home development project in Los Angeles County, which has been under construction since 2014. The ultra-rich and exclusive area of Holmby Hills is also situated in Bel Air. Famous homes in Holmby Hills include the Playboy Mansion, The Spelling Manor, Warren Beauty, Anette Bening’s house, and many others.
Real Estate insights of Bel Air
As of now, there is a high demand for luxury real estate property in Bel Air as there are more potential buyers than sellers in the market. As of January 2021, the typical home value in Bel Air is $3,832,596, and the prices have gone up by 5.8% compared to the past year. Due to its high cost of living and luxurious real estate, Bel Air has a low population density. When investing in Bel Air, you will notice it is governed by local ordinances, regulating the lot size and architectural styles. Therefore, it sets the tone for high-end real estate in the city with huge mansions and large properties. Bel Air real estate rules also forbid nearly all multi-family housing, explaining why it has the highest median household income in Los Angeles. Discover the real estate property with me in Bel Air, dominated by historic and contemporary estates, with a level of privacy preferred by the rich and famous.
The city of Malibu includes three areas; an amalgamation of small communities located near the beach and two unincorporated areas further inland. It contains subdivisions and neighborhoods comprising the coastal community. If you plan to reside in Malibu, you can easily access the beaches, parks, stores, restaurants, and boutiques.
Location of Malibu City
The jewel of Southern California, Malibu, is outlined by the gorgeous Pacific Coastline and located just south along the Pacific Coast Highway in Pacific Palisades and Santa Monica. It has Calabasas to the north and Ventura County to the northwest, with a short 10-mile commute to the city of Los Angeles. Settled between Santa Monica Mountains and beachfront access to the Pacific Ocean, the luxury real estate in Malibu is an ideal location if you are in search of laidback luxury living.
History of Malibu Neighborhood
Malibu was originally settled by the Chumash, a native American tribe, naming the city Humaliwo meaning “the surf sounds loud.” An annual festival also takes place every year at Malibu Bluffs Park to honor the history of the locality. Today, the city is nicknamed “The Bu” by locals and surfers alike. High-end Malibu real estate boomed when May Knight Rindge began leasing the beachfront lots in the early 20th century to Hollywood’s Golden Age’s most prominent stars, including Gloria Swanson, Bing Crosby, and Gary Cooper.
Insights of Malibu Real Estate
The real estate of Malibu is a blend of the glamor of old Hollywood with modern-day architectural design. It is the major residence for wealthy business people and entertainment industry leaders with a mix of contemporary luxurious properties, condos, mansions, bungalow lofts, and rental apartments. Gated communities like Malibu Colony and Point Dum, among other properties, offer discretion, privacy, and the utmost security for residents. Malibu luxury homes are also known for their variety of architectural designs and ocean views. Hence, as per the data of January 2021, the house value in Malibu is $3,447,420 and has gone up by 7.7 percent over the past year.
Along with the natural amenities, Malibu also has some of the best restaurants in the city that can offer you the most memorable dining experience, from food, views, and ambiance. The famous and fanciest restaurants for dining in Malibu are Nobu, Moon shadows, Dukes, and Geoffrey’s.
Are you planning to buy your next home? You cannot go wrong buying your next house in any of these areas because each has something different to offer. Located in different parts of Los Angeles, each city is unique with its own set of amenities. Therefore, it is difficult to state one as more luxurious and desirable than the other. However, the beauty lies in the eyes of the beholder. If your must-haves list includes privacy, nightlife, luxurious property, or beach life, you will indeed find it in one of these areas.
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