Tuesday, March 2, 2010

Exploring West Lost Angeles for Condominiums

With all its glamour and glitz and promise of commercial success, West Lost Angeles lures the real estate investors and home buyers into a plethora of condominium offerings. A city with a slew of world famous attractions and huge commercial activities, no wonder West Los Angeles condominiums make the hottest pick for the savvy and serious investors from all over the globe.

A brief flash back will tell you that, Los Angeles condo market reached its peak during the 2006 and 2007. It was the time, when more condominiums were sold in the market than the single family homes. And West Los Angeles was the place to experience the maximum condo boom. As the market took the downturn, the demand for condo property did not decline as sharply as for the rest of the USA. Even during the first phase of recession, the Los Angeles condominiums sold for more than $5 million. Another estimate revealed that during that period, condominiums made up the majority of new home sales in Los Angeles---at about 59%.

So what are the reasons that people are scurrying over to West Los Angeles to buy condominium properties?
The most important reason relates to the city’s well developed transport network. By buying West Los Angeles condominium, you can get the best of both worlds. On the one hand you can enjoy the solitude of suburbs in its quiet neighborhoods of Wilshire and Barrington; and on the other hand, you get the close proximity to the downtown Los Angeles. With good transport links in this part of Los Angeles, it takes less than an hour to hit the downtown. By significantly cutting on commuting hours, the residents of West Los Angeles condominiums are enjoying a better lifestyle.

Until a few years ago, the West Los Angeles was a kind of place where you could find lots of traditional homes with traditional architecture sprawling over vast lands. But these days, these properties are getting demolished and in place of them high-rise condominiums are sprouting up. With the development of these high-rise properties, now more people can live in these areas. And a population growth in turn means more development of the region.


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