The Westside is made up of Los Angeles most expensive neighborhoods, lying in the 90272 (Pacific Palisades), 90402 (Santa Monica), 90049 (Brentwood), 90077 (Westwood), 90210 (Beverly Hills). These are the locations of choice for many of the world’s super rich and the architecture is predominately Craftsman, Mediterranean and Contemporary. The Westside has some of the most notable addresses in The US featuring Rodeo Dr and Sunset Blvd. Of the top 5 most expensive sales The Westside has provided within the last 3 years, three were in Brentwood and two from Beverly Hills. The highest priced sale and the highest priced per square foot archived were properties situated in Holmby Hills which is bordered by the city of Beverly Hills . A 14 bedroom house archived a $85 Million price tag in 2012 and another home sold for $3,824 per square foot in April 2015.
The Westside provides everything you could want from sweeping beaches where Baywatch was filmed to divine restaurants with every cuisine imaginable, sprawling outside shopping gallerias featuring the iconic Rodeo Drive, panoramic cycling and hiking trails which flow through the hills and boardwalks, quintessential attractions bringing businesses and people from all over the world. The Westside is known around the globe predominantly for being home to many actors and celebrities and that is still the same today, in the last decade there has been a large increase in high net worth foreign investment especially from the middle east which has seen more construction and sales in mega mansions.
Demand from both domestic and overseas purchasers remains very strong, the average price per square foot achieved rose by 16.3% from January 2015 to April 2016, commanding a 9.2% premium over the rest of Los Angeles. The average single family home sales price in Q1 2016 was $2,370,000 or per square foot $790. Further more the number of properties sold for over $5 million has increased by 29% compared to 2014.
Los Angeles: Buying the Concept of Security
LA’s Private and Gated Communities In the last decade gated communities in Los Angeles have risen tremendously in popularity, offering tall gates, private security forces and 24-hour a day electronic surveillance it’s no wonder why today’s wealthy from Saudi princes, Tech Moguls, Oscar winners to established families are among them and willing to pay a premium for real privacy.
North Beverly Park is where all the money goes to live. The gated community is only accessible through two guarded checkpoints in order to keep the paparazzi out. On average, homes are 20,000 square feet which costs around $28M.
The Brentwood Country Estates are located in the Mandeville Canyon area of the Santa Monica Mountains. There are only fourteen estate sites on the 250 acre development. The community captures the essence of country, mountains, city and ocean all in one area. The average value here is $12M.
The Oaks is a guard gated community within Calabasas, that offers luxurious amenities to its residents such as a tennis courts, a fitness center and miles of hiking trails. The Oaks begin at $2.5M and go up to $16M.
Hidden Hills is an incorporated city that is also a gated residential community in Calabasas. It offers residents that small town feel, such as being able to pick up your children from school on horseback. Home sales range from $3M to $25M.