Los Angeles Property Market and Real Estate Guide
(Los Angeles, California - CA, USA)
Los Angeles is America's second-biggest city, but unlike hyper-urban New York
, it is a vast sprawl of suburbs and communities housed under the broad umbrella of what is called LA. Downtown Los Angeles is a ghost town after business hours, but this means that property downtown is usually good value.
The mansions and estates of Malibu and Beverly Hills are rightly famous for the size, luxury and price of their property. Even spin off suburbs such as Long Beach
and West Hollywood have experienced significant rises in property prices over the past 20 years, as people move here in search of the Hollywood dream. Many houses and apartments are full of actors and entertainment industry professionals, and people on lower incomes may struggle to find anything affordable in these areas.
Those with a keen eye - and a car - will find third-tier suburbs like Silverlake, which adjoins West Hollywood, or Ventura, near Long Beach, offer exceptional value for money without deserting residents in the anonymous outer suburbs of Los Angeles where urban alienation and in some cases, violence and crime are a regrettable part of daily life.
Renting Serviced Apartments
Los Angeles is a business town and there are tens of thousands of serviced apartments in the metropolitan area. Around Sunset Boulevard are countless serviced apartments ranging from atmospheric Art Deco places to the latest glass and steel high rises.
In general, serviced apartments rent weekly for around the same price as equivalent hotels, although discounts for long-term stays are usually available. A deposit of around one week's rental is payable at the time of booking, and most serviced apartments in Los Angeles come with wireless Internet, television, air conditioning and in some cases, maid and turndown service every other day.
Buying Apartments and Houses
Los Angeles occupies a massive geographical area and so real estate here is not as expensive as it is in other more compacted American cities. Despite the glitz of Hollywood, property prices in Los Angeles provide reasonable value for money, with the average price of a house at least a third less that an equivalent property in New York or San Francisco
However, location is everything in Los Angeles and some of the larger estates in Hollywood and Malibu are among the most expensive properties in the world. Non-American citizens will struggle to purchase property in the USA. Few restrictions apply to foreign ownership of property and foreigners staying for a year or less should have no trouble securing a lease on a rental.
Real Estate Agents
Finding a good real estate agent in Los Angeles is no trouble at all. Like most business people in Los Angeles, the realtors here do business aggressively and with flair, and they know their market at an expert level. English is the language, with Spanish widely spoken. All leases will be prepared in English.
Check out the following Los Angeles realtors and real estate agents:
Crossroads of the World
Address: 6671 Sunset Boulevard, Suite 1575, Los Angeles, California, 90028, USA
Tel: +1 323 463 5611
Find your Hollywood dream bungalow here.
Address: 800 West 6th Street, 6th Floor, Los Angeles, California, 90017, USA
Tel: +1 213 683 0500
Charles Dunn operates a series of offices up and down the coast of California and their central Los Angeles office maintains an excellent portfolio of private and business properties.
Sunset and Vine
Address: 1555 Vine Street, Los Angeles, California, 90028, USA
Tel: +1 323 464 1555
The name of this centrally-located LA realtor is deceptive, as it maintains a wide portfolio of properties located all over the metropolitan area.