The Agency’s CEO and Co-founder Mauricio Umansky appeared on FOX Business this morning to weigh in on the current state of the luxury real estate market.
“We’re starting to see some price per foot in Los Angeles starting to hit $3,000 a foot, which we really have never seen before,” said Umansky, who is a regular featured contributor on FOX Business. He also notes some of the exciting new properties hitting the high-end of the market, like 1201 Laurel Way*, which feature unprecedented designs and technology.
Commenting on the Las Vegas luxury real estate market, Umansky notes that “the developer owned inventory is at an all-time low,” while job growth and incomes are increasing. Those factors, along with a lack of state income tax, are making Las Vegas a viable place to invest in real estate. He notes in particular, the lure of the high-end, Strip market, including The Residences at the Mandarin Oriental, Las Vegas (photo, at right).
Finally, Umansky shares why he has been spending a great deal of time in China lately. Watch the video above or here to discover why.
* Of note, the home shown in the FOX Business segment is not 1201 Laurel Way. To view 1201 Laurel Way, go here.