By Partners Trust 03/06/2015

Each year has its own special qualities and 2014 was no different. It was a year of growth and change, both for Partners Trust and for the greater Los Angeles brokerage community. In our annual report we take a look at the trends that grew our city in 2014.

Los Angeles is an international city, attracting visitors and new residents from around the world. We are also one of the leaders in luxury real estate. What luxury means to each individual remains personal, however we see some common trends including a continued embrace of indoor/ outdoor living. In new luxury construction, there is an ongoing trend for glass walls that open out. Outdoor living spaces with distinct kitchens and entertaining areas that are more expansive than ever are popular. Smart and wired homes are also highly in demand for today’s hyper-connected buyers.

 

As always in Los Angeles, a view is one of the most desirable features. Ocean, canyon, and city views remain highly requested by our clientele. We also see prestige neighborhoods such Bel-Air/Holmby Hills continue to hold and increase their value. A surge in Chinese buyers has fueled lower days on market in San Marino and Arcadia.

The overall market for luxury real estate in Los Angeles reached historic highs in 2014 and we believe we may be in for another record-breaking year.