The real estate market has been pretty hot in southern California these past couple of years, in the greater Los Angeles area in particular. Real Estate in Beverly Hills has been doing quite well as well. There are many different explanations being given for this, but the core over-arching one is that consumer confidence, at least in the higher end of the economic spectrum, is high in the United States. Economically, the U.S. has been able to withstand the global economic crisis quite well.
Los Angeles is going through an interesting makeover, placing more emphasis on public transportation and urban design. Many of the newer high rises (which are becoming more common as years go by) are multi-use, encouraging pedestrians to take to the streets, which is something almost “un-LA” but a welcome change.
Some of the hottest neighborhoods in the Los Angeles Real Estate market have to be the so-called Silicon Beach neighborhood, consisting mainly of Venice Beach (90291 zip code) as well as the Ocean Park neighborhood of Santa Monica, and, as of late, Playa Vista. The tech industry is playing a huge role in the re-development of the west side and particularly the beach cities.
Venice Beach is going through an incredible transformation. You have to see it to believe it!