Focus on one of the top areas in LA Luxury Real Estate: Bel Air. We hope you have heard of it before, yet how much of it do your really know? Do you know it’s more dynamic than ever? Read our whole story, by our Member Greg Moesser, from LA Classic Estates.
Luxury mansion known as Fleur De Lys sold for $102 Million (…) At only $2,000 per square foot, it’s an extraordinary value compared to other international luxury markets
While everyone knows about the luxury markets of Manhattan, London, and Monaco, fewer are aware that one of the most prized luxury real estate markets among the world’s billionaire elite is Los Angeles and the exclusive enclaves of Bel Air and Holmby Hills.
Just last week, the luxury mansion known as Fleur De Lys sold for $102 Million (USD) among a bidding war of multiple buyers. Considered a record sale by Los Angeles standards, at only $2,000 per square foot, it’s an extraordinary value compared to other international luxury markets. Additionally, there have been 2 other recent Bel Air/Holmby Hills home sales of $75 million and $85 million.
Beverly Hills also continues to be in high demand with wealthy buyers. It’s important to note that the guard-gated communities of Beverly Park, Malibu Colony, and Fremont Place have demonstrated new record sales as well. Los Angeles offers a year-round mild climate, an internationally renowned cosmopolitan lifestyle, and tremendous values in real estate, especially when compared to other major world cities.
The region also provides strong investment advantages such as the robust commercial economy of a world-class city, no VAT taxes, and excellent foreign ownership rights. The Southern California architectural landscape includes beachfront villas, grand estates, historic properties, city homes, and sleek high-rise apartments. Luxury homes and apartments range anywhere from $1 million to over $100 million.
