November 29, 2016
By Dennis Kaiser
Connect Westside LA is coming up on December 13th. For more information and to register for the conference click here.
Four panels are planned on trends shaping the market. Wanda Beverly Hills Properties’ Rohan a’Beckett will share insights on the state of the luxury residential market and how it impacts the CRE sector. Wanda Group is developing One Beverly Hills, one of the most anticipated luxury projects on the Westside.
Q: Describe the state of the L.A. luxury residential market.
A: The LA luxury market is very clearly segmented between single family homes and luxury condos. Our development will provide a unique condo offering to the market, on a size, scale, quality that has never been seen in such a prominent Beverly Hills location. We continue to see strong demand for this type of offering, and very limited new supply.
Q: How does the Westside LA luxury residential market compare to others?
A: West LA is extremely desirable, especially Beverly Hills. This location has appeal locally, domestically, and has strong appeal to the international buyer. LA is witnessing some regenerative luxury condo developments in other part of the City, but West LA and Beverly Hills have been quite supply constrained. We anticipate strong levels of pent-up demand for this product type once it reaches the market.
Q: What are the most interesting trends you are seeing emerge in L.A.’s luxury residential sector?
A: Newer condo developments are well amenitized, and we have seen strong performance in other high profile international cities of luxury condo developments that contain a hotel component within the development. This can allow for an even greater level of service and amenities. This has proven popular in Beverly Hills already, and we look forward to filling this market need in the years to come.
For comments, questions or concerns, please contact Dennis Kaiser