/24-7PressRelease/ - LOS ANGELES, CA, October 27, 2007 - While US and global newscasts are reporting on falling real estate markets, the world's wealthiest individuals are taking advantage of these public media reports to capitalize on the exclusive value of the Los Angeles, Beverly Hills, Bel Air and Malibu luxury property markets.
Greg Moesser, an Estates Director at the Beverly Hills Christies Great Estates affiliate of Hilton & Hyland Realty reports; "In the last 3 months alone there have been 17 local sales of properties in the over $10 Million price category*. That is approximately 1.5 high end sales every week! The reason for this demand is that international buyers and savvy investors have been waiting for many years to take advantage of a lower priced cooling market and now it is also combined with the extraordinary timing bonus of a weak dollar. In addition, they also understand our tremendous land and square foot value ratio, LA's fabulous weather & celebrity lifestyle, and California's strong economic growth and stability when compared to the highly priced markets of Hong Kong, Paris, London, Dubai and Manhattan."
Here are just a few examples of why the Los Angeles mega luxury real estate market is currently so prized by the international jet-set elite. A $53 Million Bel Air Mediterranean compound with 9 bedrooms & 20 baths, and 34,000sf is now on the market for only $25 Million. A brand new $15M Beverly Hills villa with approx. 14,000sf is currently priced at $11.9 Million. A $12M Malibu three acre estate is currently priced at $7.9 Million. The Los Angles luxury hi-rise market is also an extraordinary value where a premier, white-glove condominium building unit can still be purchased for less than $3 Million and at under $1000 per square foot.
For additional information regarding Los Angles, Beverly Hills and Malibu luxury real estate, please visit http://www.LAClassicEstates.com or contact Greg Moesser directly at +1 310.770.9014 or viewla@pacbell.net.
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