The Agency’s Billy Rose shared his thoughts recently on the current state of the U.S. luxury real estate market with entertainment-trade magazine Variety. In the article article, titled “No Boom, No Bust,” Rose specifically addresses home sales in Los Angeles, and in particular, Beverly Hills, noting that the demand for luxury homes remains high in the world’s entertainment capital.
“We’re seeing a lot of second, third, fourth and fifth home buyers,” Rose told Variety, citing several examples of recent home sales over $10 Million to buyers who won’t be living in the properties full time.
“Generally speaking, the world is thinking that the United States is on sale right now,” shares Rose. Nonetheless, he adds, “Most everyone wants to invest in North America; both the U.S. and Canada are perceived as stable.”
Rose attributes L.A.’s desirability to investors, especially international buyers, to the fact that it is a major metropolitan city with an unrivaled variety of homes available. “There is not a lot of copy-and-paste,” Rose notes. “There’s not wide-scale development; every property is different from the next.”
Read the full article on Variety.com here.
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