Personal thoughts from within the Luxury Real Estate network
By Greg Moesser
While U.S. and global newscasts are reporting on falling real estate markets, the world's wealthiest individuals are taking advantage of these public media reports to capitalize on the exclusive value of the Los Angeles, Beverly Hills, Bel Air and Malibu luxury property markets.
Greg Moesser, an Estates Director at Prudential CA Realty reports, “In the last three months alone there have been 17 local sales of properties in the over-$10 million price category. That is approximately 1.5 high-end sales every week! The reason for this demand is that international buyers and savvy investors have been waiting for many years to take advantage of a lower-priced cooling market and now it is also combined with the extraordinary timing bonus of a weak dollar. In addition, they also understand our tremendous land and square-foot value ratio, L.A.’s fabulous weather and celebrity lifestyle, and California’s strong economic growth and stability when compared to the highly priced markets of Hong Kong, Paris, London, Dubai and Manhattan.”
For additional information regarding Los Angles, Beverly Hills and Malibu luxury real estate, please visit www.LAClassicEstates.com or contact Greg Moesser directly at +1 310.770.9014 or viewla@pacbell.net.
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