The real estate market in the Beverly Hills area is not like any other. Although the real state in LA market is highly competitive, Beverly Hills has a distinct advantage over other Los Angeles communities. In addition to being one of the most desirable places to be, Beverly Hills has the geographical advantage of being surrounded by some of the most desirable communities in Los. The Beverly Hills real estate market generally moves at an even pace throughout the year. The most expensive home sale in Beverly Hills involved the sale of a 5-bedroom, 6.5-bathroom, 10,000 square foot Mediterranean-style home located on 2.8 acres for $95 million in 2016.
Beverly Hills affects the value, including:
Beverly Hills is a city of opulence and glamour, making its environment and media representation ideal. Those who live here lead charmed lives, typically coming from affluent families with attractive, outgoing, and famous parents’ figure. The media follows many celebrities and shows their lifestyles and choices, and as a result, sets the standard of what is acceptable. Nevertheless, the media plays a significant role in dictating the value and perception of others and ourselves.
Education in Beverley Hills affects the value of the property. Education is knowledge, and with knowledge comes the ability to better oneself and be self-sufficient. The more information one has and acquires; the more valuable one will become. Education leads to improved earnings, providing greater amounts of capital for the development and acquisition of property.
Sunny Weather and Nearby Beaches
The sunny weather in Beverly hills affects the value of property in the area. Property in the area is more expensive due to its location, amenities, and privacy. Although the property is located away from the city center, it still remains very close to the city. This, in turn, makes the area very attractive to the residents. As the area develops, the real estate demand in the area increases due to people looking to move into the area. Some nearby beaches in Beverly hills, like Venice beach, one of the most famous beaches in the world, offer homes for sale in venice beach. Each place affects the value of location because of its unique and spectacular view.
Safety in Beverly hills affects the price of properties within the neighborhood. Beverly Hills is known as one of the prime and most valuable neighborhoods in Los Angeles. It is a high-demand, high security, high community neighborhood.