A recent report shows that the Los Angeles area, and the Westside in particular, is a top choice for international real estate investors. In fact, Los Angeles was number one in the United States and Canadian region. Last year, though high in the ranking, LA was behind San Francisco.
What Are They Buying?
In general, International real estate investors are looking for:
- Office buildings
- Warehouse distribution centers
- Multi-family residential buildings
On the Westside, we’ve seen a lot of interest in Condo and townhome communities, in addition to very large office building purchases.
What’s Going On
Investors are excited about the prospects in the LA area. In fact, almost half of investors said they are planning to spend more money on investments this year than last. With property values rising, this is great news for those that own property multifamily property on the Westside.
One of the reasons this is happening is that rent prices in the area were slower to rise than surrounding areas after the real estate recovery. This means that properties have room for higher rents, giving investors more for their money.
Not only that, but property values are still low, especially in comparison to international properties and surrounding property in California.
Biggest Deal on the Westside
Last year, a huge $1.34 billion deal of four Westwood office buildings, the $511 million purchase of an office complex in Santa Monica, and the $429 million purchase of offices in Playa Vista were some of the largest in the country. In fact, due to these sales and others, the Westside is seen as the core market for investment.
To learn more about investments in our area and how they may affect buying and selling on the Westside, give me a call. And if you are looking for investment purchases, I can help with that as well.
Brett truly cares about each and every one of his clients. His passion in life is leveraging his exceptional Real Estate background, experience and knowledge to help his clients achieve and exceed their goals.