X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Los Angeles is experiencing a mansion surplus. Strong demand for high-end single-family homes spurred a frenzy of new construction projects. Now, those projects are sitting on the market, causing a surplus of high-priced homes. The exact cause of the surplus is under debate among L.A.’s leading luxury brokers.

“If you ask 10 different luxury brokers in the Los Angeles market, you are likely to come up with 10 different answers,” Yin Ho, an associate in the real estate team of international law firm Withers, tells GlobeSt.com. “However, the general consensus is that within the past decade, apart from New York City, Los Angeles has emerged as the primary U.S. market for domestic and international luxury real estate buyers.  From a global perspective, Los Angeles is seen as a safe and attractive market due to its status as one of the top-two “gateway” cities in California and the West Coast.  This is fueled by the fact that Los Angeles supports a diverse population and economy, top tier universities, and geographic proximity to China and Asia.”

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.