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Singapore and Zurich pushed New York from its perch as the world's most expensive place to reside as costs rose at a slower pace in the most populous U.S. city, according to a survey from a division of the Economist Group. In tying with Zurich for the top spot this year, Singapore has led the list published in the Economist Intelligence Unit's Worldwide Cost of Living report for nine...
Today, February 20, 2024 Building costs will rise between 3% and 6% throughout 2024, depending on the market, according to data released Tuesday by cost management firm Currie and Brown. Builders should plan for construction costs to increase throughout 2024 due to a variety of factors, according to a new study released Tuesday by cost management firm Currie and Brown...
College has gotten shockingly expensive. Think $42,162 for the average private college tuition in the 2023-2024 school year. It’s enough for many parents and kids to rethink whether they even need a degree in today’s world. But if you do want to help out with your kid’s tuition, real estate investments can help. Try these six creative strategies to lighte...
After experiencing losses late last year, average asking rents in greater Los Angeles are on the rise. In 2023, average daily asking rents in Los Angeles bottomed out in December at $2.86 per square foot each month. Since then, upward momentum has been sustained, with average daily asking rents up around 1% from the recent low, reaching just above $2.88 per square foot each month. Rent movem...
The Current State of Los Angeles Commercial Real Estate Market in 2024 As we move through 2024, the commercial real estate market in Los Angeles is experiencing a mix of challenges and opportunities. Let's break down what's happening in different areas of this market. Office Spaces: Changing Needs The way people use office spaces in Los Angeles is changing. Many companies are s...
Entering the world of commercial real estate as an agent can be both exciting and rewarding. Whether you're just starting out or looking to enhance your career, here are 15 simple steps to guide you towards success in commercial real estate: 1. Understand the Basics: Begin by learning the fundamentals of commercial real estate. Know the different types of properties like offices, retail ...
In the world of commercial real estate, understanding the financial potential of a property is crucial before making any investment. This is where a pro forma comes in. A pro forma is a financial model that projects the future income, expenses, and profitability of a property. It’s an essential tool for investors, developers, and lenders to assess the viability of a real estate project. ...
Understanding Prop 19 and Its Benefits for California Property Owners Proposition 19, passed by California voters in November 2020, brought significant changes to property tax regulations, impacting millions of property owners across the state. The proposition aimed to address two main areas: the transfer of property tax benefits and property inheritance rules. Let's dive into the key el...
Multifamily Property Owners Find Hope as Vacancy Increases Finally Level Out It’s been a tough few years for multifamily property investors in Los Angeles. After the COVID-19 pandemic locked up rent increases for years, the gates finally came up at the beginning of 2024. But it was the definition of pulling blood from a stone. A crippled entertainment industry and floundering...
Last week, I was talking with another apartment owner about rent hikes for 2025, and I was surprised to learn that even experienced investors are unclear on what’s allowed in Los Angeles City versus Los Angeles County. So, I’ve broken it down below to help clear up any confusion and give you the info you need to plan for next year with confidence. Rent Increase Limits If you r...
