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10 MOST EXPENSIVE MARKETS FOR REAL ESTATE - CNBC.COM

To most people, New York City has become an otherworldly real estate market. It's the town where a skyrise condo just sold for more than $50 million-and it was only that cheap because it was raw space.

 

But to the global rich, New York is a bargain.

 

A new report shows that on a per-square-foot basis, New York is half price compared to some other favorite cities of the rich.

 

The Knight Frank Wealth Report shows that the tiny, tony principality of Monaco remains the most world's expensive real estate market. The report found that $1 million will only get you 15 square meters of space, or about 160 square feet. So you could buy a $1 million bedroom-and presumably share a bathroom and kitchen with other property-poor millionaires.

 

In New York, that same $1 million gets you a whopping 30 square meters of space, or about 430 square feet. That puts New York down at number six on the list, below Monaco, Hong Kong, London, Singapore and Geneva.  

 

"New York is a definite bargain from the global marketplace perspective," said Dolly Lenz, founder of Dolly Lenz Real Estate in New York. "It's not a bargain from the perspective of New Yorkers who have seen the prices quadruple over the past 20 years. But the wealthy look more globally, and when they compare these cities, New York is great value."


   

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POCKET LISTINGS

Trousdale/ Beverly Hills
Luxury Estate
$12,000,000

Little Holmby
$2,100,000
IN ESCROW

9315 Nightingale Rd.

Sunset Strip

$6,995,000  

 

11610 Bellagio Rd.

Bel Air

$3,995,000

 

328 El Camino Dr.

Beverly Hills

$3,650,000 

 

11507 Orum Rd. 

Bel Air 

$3,795,000

6235 Drexel Ave.
Beverly Center
$2,495,000

9504 Highridge Dr.
Beverly Hills Post Office
$1,795,000

3025 Benedict Canyon Dr.
BHPO
$1,695,000

8755 Skyline Dr.
Hollywood Hills
$1,695,000

540-548 S. State St.
Anaheim
$1,690,000

2245 Bronson Hill Dr.,
Hollywood Hills
$1,199,000

9124 W. 24th St.
Beverlywood
$885,000

700 Westmount Dr. #204,
West Hollywood
$525,000

1400 N. Hayworth Ave. #9
West Hollywood
$349,000

 

SOLD

6516 Maryland Dr.
Beverly Center
$2,795,000

4241 Colbath Ave.
Sherman Oaks
$1,685,000

4961 Marmol Dr.
Woodland Hills
$929,000

20474 Rancho La Floresta Rd.
Covina
$899,000

2111 S. Beverly Glen #101
Westwood
$729,000


COMING SOON

The Enclave at Century Woods
Century City
Additional Information Upon Request

4718 White Oak Ave.
Encino
$3,899,000

850 N. Hudson Ave. #101
Hollywood
$574,999

GREETINGS FROM SALLY,
March 14, 2014

There is a lot happening in the real estate market right now that is affecting the current climate for both buyers and sellers. Prices are up in many areas, we are continuing to experience low inventory, and demand for the high-end is very strong, especially from international buyers.

 

Even with rising prices, Los Angeles real estate remains a steal compared to many cities abroad. CNBC recently released an article comparing price per square meter in some of the most expensive cities in the world. You might be surprised that New York City, the most expensive city in the U.S. is only number 6, with Monaco, Hong Kong, London, and Singapore topping the list. According to this report, $1 million will only buy approximately 15 square meters in Monaco and only 20.6 square meters in Hong Kong. Los Angeles comes in at number 13 on the list making it very attractive to International buyers who are looking for a safe place to invest their money.  Strong international interest and low inventory is pushing demand higher especially for luxury properties.  

 

  

Best wishes,


  

SFJ GROUP BLOG
     
FEATURED LISTING


Pacific Coast Highway Featured- Previews Inside Out: Trending Turquoise
 
2539 Benedict Canyon,
Beverly Hills Post Office: $6,288,000

NEW LISTINGS & LEASES

644 S. Orange Drive, Hancock Park 
 $2,795,000

 
Discover this spacious and voluminous modern home in sought after Hancock Park. The open floor plan features soaring 11 ft. ceilings, Italian tile & recessed lighting. The family room opens to the ample kitchen w/breakfast room, Caesarstone countertops, center island with seating and Thermador appliances. Fleetwood pocket doors open to an entertainer's rear yard with pool and spa, fire pit, grassy yard and covered patio. There are 4 bedrooms upstairs plus an office/ guest bedroom on the main level. Luxurious master suite with private balcony, and master bath featuring dual vanities, huge shower, soaking tub and large walk-in closet. Enjoy all that comes with this refined cosmopolitan lifestyle!

16742 Ashley Oaks, Encino     
 $2,195,000 


Within exclusive Clark Gable Estates, lies this charming single level home.  On a quiet cul-de-sac, on one of the most prestigious streets in Encino, this home's beautiful curb appeal makes way to a light and bright interior with 4 bedrooms (plus bonus room) in a well thought out floor plan. There are 4 bedrooms including a maid's room. Three bedrooms are ensuite including the generous master suite with soaring beamed ceilings, lots of light, beautiful windows and sliding doors that open to the yard and patios. Step out into the private backyard and imagine lounging by the sparkling pool and hosting backyard BBQs! Additional features include bonus room with private entrance, 3-car garage, and security system. A very special property!

596 Entrada Drive, Santa Monica 
 $1,375,000

 

Incredible value! This is your opportunity to rebuild or redevelop in desirable Santa Monica Canyon! This large (over 7,600 square foot lot) is the perfect site to redevelop the current residence or rebuild from the ground up with potential for a larger 2-story home. The current residence consists of 3 bedrooms and 2 bathrooms with a lovely front courtyard and private back patio. This sought after location is just blocks from the beach and restaurants and is in the Canyon Elementary School District. Bring your contractors and developers - this fantastic offering won't last long!

 

2245 Bronson Hill Drive, Hollywood Hills       
 $1,199,000 


You will be transported to a nature filled escape from the city, yet only blocks away from trendy caf�s and restaurants on Franklin Ave. Light pours into this gorgeous Hollywood Hills home with all of the original details and personal touches. Hardwood floors, crown molding, dramatic circular staircase leading to the second floor, and a light and bright open kitchen. Three bedrooms and three baths plus private outdoor patios. For the creative spirit in you, a recording studio over the garage can also function as an office or writing room. Come. Be transported to your own retreat. It's waiting for you.


12049 Iredell Street, Studio City   
 $7,950/ month 


This striking and private Paul Williams designed single level contemporary home presents a rare opportunity to lease an incredible architecturally significant home in prime Fryman Estates! This updated home has over sized bedrooms and living areas in over 4,000 square feet of living space. The home also boasts abundant closet and storage space as well as many built-ins, two fireplaces and a very private rear yard with heated pool. Close proximity to shopping, hiking and easy Westside access. 




�2014 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Coldwell Banker Residential Brokerage office is owned by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo, Coldwell Banker Previews International and the Coldwell Banker Previews International Logo, are registered service marks owned by Coldwell Banker Real Estate LLC. Broker does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of property provided by seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection and with appropriate professionals.