For international buyers, Los Angeles is the ideal gateway to the west. According to a recent article by The Real Deal LA, Los Angeles boasts 9% of all residential real estate purchases by international buyers in the U.S., and it’s easy to see why. The definition of luxury, Angelenos have comfortable weather year-round and access to world-famous beaches, restaurants, night-life and entertainment. From the stunning views of the Bird Streets high above Hollywood to the unrivaled ease of living in Beverly Hills, Los Angeles has it all. On top of that, California itself boasts the 11th largest GDP in the world by national standards.
23917 Malibu Rd, Malibu | $8,995,000
Tiffany Yi Hu, Rick Hilton and Rodrigo Iglesias Represented the Buyer and Seller
According to CNBC, buyers from China, the United Kingdom, Canada, India, and Mexico account for nearly half of all homes sold to international buyers in the U.S. A recent report from the California Board of Realtors noted that while China remains the most active group of foreign buyers in the U.S. real estate market representing approximately 30% of all foreign purchases, that amount is slightly less than in previous years. Hilton & Hyland’s Tiffany Yi Hu contends, “The main issue the majority of Chinese buyers are facing is that the government has recently tightened the money leaving the country, and is becoming increasingly strict with overseas investments. For my more sophisticated high-end clients however, it is less of a problem as they already have funds or businesses overseas. They want to see properties that are exclusive and off the public’s radar.”
Le Belvedere, Bel-Air | $72,000,000
Jonathan Nash and Stephen Resnick Represented the Buyer
Privacy has always been a top priority for ultra-wealthy buyers and sellers, and is increasingly important in the digital age. In 2018, Hilton & Hyland conducted approximately $800 Million in off-market transactions. According to Hilton & Hyland’s Jonathan Nash, “Demand continues to outstrip supply here in LA, and top quality continues to sell for record prices. As an agent, I add value to my clients not only by negotiating on their behalf, but by having access to exclusive off-market inventory. The political uncertainty of Brexit in the UK is seeing more and more elite Brits sowing seeds in Los Angeles.”
Sierra Towers #1702-04-06, Sunset Strip | $15,495,000
Represented by Paul Stukin
Hilton & Hyland’s Paul Stukin adds, “International buyers have seen a tremendous return on their U.S. investments over the last five to ten years, especially in Los Angeles. So even though the process may take a little longer to accomplish than before, the desire to get into the LA luxury real estate market remains stronger than ever.”