Tech Industry Buyers are Also Top Los Angeles Real Estate Market Clients
The Los Angeles real estate market continues to be on the upswing, spurred even more by tech moguls wanting to purchase trophy homes in Southern California. LAMarket.net reveals the growing price of real estate sale in the City of Los Angeles and the price is projected to increase at least 2% by 2016.
L.A.�s appeal is also spreading beyond the ultra-rich, and home buyers from Silicon Valley are also setting their eyes here.
"We've seen an uptick in buyers from the technology industry over the last several years � some moving to Los Angeles and some buying second homes here, as a kind of peaceful retreat," Hilton & Hyland�s executive VP of marketing Charles Black said.
Aside from financial and career reasons, the pleasant weather and easy lifestyle are also among the factors that have encouraged homebuyers to purchase their dream homes here. Compared to the Bay Area, the prices of homes are more attractive to buyers of different walks of life in the City of Los Angeles and surrounding areas.
Additionally, with the expanding tech scene and the lure of business partnerships, many investors and entrepreneurs are buying Los Angeles commercial properties for sale. In 2014, the Long Beach area, part of Los Angeles County for the first time broke into the top 5 metropolitan areas for venture capital investment, with deals amounting to $2 billion.
Benjamin Torini, an entrepreneur who lives in San Francisco, decided to buy a house in Los Angeles, and he plans of making it his second home. He paid $1.54 million for the property, which he was fortunate enough to get at $120,000 below listing price.
�It�s a beautiful home, better than my home in San Francisco which costs almost twice as much,� says Torini. �I have a huge pool and a fantastic view of the city in my living room. I have been entertaining a lot of potential clients in my home and even they are impressed!�
LAMarket.net is a licensed California Broker in Los Angeles and have been helping buyers and sellers in the housing market for many years. For more information, please visit http://www.LAMarket.net
Broker: Ehsan Torabi BRE# 01149604
LA Market Real Estate
11420 Santa Monica Bl. #813
Los Angeles, CA 90025