Why Los Angeles?
Los Angeles is one of the most diversified and foreign home buyer friendly cities in the US. Many cultures created ethnic neighborhoods here - no wonder Los Angeles is jokingly called "100 towns looking for the city". Very few cities can offer real estate market that is so diverse and dynamic. Still don't know why buy home in Los Angeles?
Los Angeles will share some of "10 reasons" with the rest of California, but nevertheless - here are a few pretty good arguments to invest in California in general and Los Angeles in particular:
- Strong and Diversified Economy
California’s economy currently ranking 6th in the world surpassing countries like France, Russia, India, Canada, and Australia among others. It is very diversified and is leading in the fields of:
- entertainment (ever heard of Hollywood?),
- computer technologies (Google, Facebook and most of IT world "lives" here),
- agriculture (who knew that 80% of worlds almonds come from California)
- wine making (over 3,700 wineries call California home)
- space technology (first private space companies Virgin Galactic, XCOR and Space X are based in California)
- scientific innovation and green technologies
- Playground of the Affluent
Places like Malibu, Beverly Hills, Bel Air or Santa Monica are legendary and have been glorified in countless movies, books and lately never ending stream of reality shows. Yes, actual movie stars live here and of course they have neighbors - why not to become one of them?
- Places for Higher Education
California is home to over 120 universities. Leading the pack are Stanford and UC Berkley in Northern California and UCLA, USC in Los Angeles.
- Climate
If you like warm climate but cannot stand humidity (sorry Florida) this is the pace for you. Year round temperature is 20°C on average.
- Nature
Los Angeles possibly the only city in the US where you can sunbathe by the ocean and ski in the mountain snow on the same day. Within 1 hour drive from the city you can find desert, mountains, lakes, forest and of course the Pacific beaches.
- Diverse Real Estate market
California diverse Real Estate market has opportunities for investors of any scale. Some areas like La Jolla, Beverly Hills, Silicon Valley, Newport Beach have average house price in $1-2 million range with some estates priced at tens of millions. While in Inland Empire, Central Valley you can find properties below $100K.
- Tourism
Los Angeles is home to some of most liked tourist attractions like Universal Studios, Disneyland, Hollywood or events like Oscars, Grammy's or Emmy's. Tourism fuels local economy and brings stability to the markets - including local Real Estate.
- Architecture
Whether you love it or hate it - Los Angeles is one of the most modern cities in the world. Seismic activity influenced "urbanism" of this spread-out city. There is no uniting "center" in Los Angeles, and it just feels like myriad of small towns connected by freeway arteries. Some might find the beauty in this multifaceted metropolis as it brings diversity not matched by any other city. Los Angeles is Mecca of modern architecture if you just take time to see it, no wonder biggest number of world famous architects originated here.
- Pacific Ocean
Most of LA is in close proximity to the ocean, and beachfront properties are always in higher demand. Beachfront communities recovered the fastest after latest market correction.
- Steady Population Growth
For many of the reasons mentioned above, California population is steadily increasing. More people coming to this state than leaving. That means more home buyers and more renters, which in turn favorably reflects on home prices and rents.
