Because the values of its real estate compare favorably with Manhattan, London, and Hong Kong, the Beverly Hills real estate market is extremely strong. Many real estate investors are re-modeling properties that appeal to the high demand for beautiful new construction. There are four main neighborhoods. The south Beverly Hills residential area is the most affordable. The “flats” of Beverly Hills just north of Santa Monica Boulevard and the shopping district are extremely attractive for families because of the convenient sidewalks. North of Sunset Boulevard is the larger estate properties, which afford the most privacy. One of the most exciting neighborhoods is Trousdale Estates, where most of the properties are deed restricted to single-story residences and have stunning views of the city and the ever-popular contemporary and mid-century architecture.
The average home price varies according to the neighborhood. The price per square foot also varies according to the condition of the house and the size of the lot but approximates $1,300 per square foot. For extraordinary, high-end luxury estates, $2,000 to $3,000 per square foot is the norm.
One of my favorite spots is Franklin Canyon, a huge private park and reservoir just off Coldwater Canyon that is perfect for hiking, picnics, and children’s birthday parties. You are away from the city vibe in a matter of minutes! Also, the Hollywood Bowl and the Disney Concert Hall are a short drive and feature some of the greatest artists of the world in their fantastic venues!