We have mentioned previously on this blog about Foreign investment in Malibu and the surrounding areas. However, with a great selection of homes on the market right now and traditionally strong currencies wealthy investors are really looking at snapping up trophy real estate in Malibu, Beverly Hills and Hollywood.
The secret – if you like – is out according to this article (click here). Property is being sold for a little less these days than it was before and foreign investors are scared by the stock market and are looking at putting their money back into real bricks and mortar.
Traditionally as we are all aware real estate has always performed well, however in addition to the investment value, investors are looking at their purchase luxury property in the prestigious areas in Westside as a lifestyle choice, a trophy property for their portfolio where they can rub shoulders with the rich and famous.
The US also offers a favorable tax regime in general, a tried and tested political system which is stable and a very much open doors policy to foreign investment, therefore it is a great choice for investors around the globe to put their money into property. Also, whilst they are at it they could take advantage of the sunshine that the Southern Californian coast has to offer!
Where are these buyers coming from? Well as far off as London, the Middle East and Asia and recently, Canada – back when the Loonie (Canadian Dollar) reached parity for the first time in years against the US Dollar.
If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.
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