With hilltop houses gaining popularity among luxury home buyers in California, beachside residences are becoming a thing of the past. Learn more about this new real estate trend in this short, easy-to-follow guide by azureazure.
In with the trend, Japan’s richest man, billionaire Masayoshi Son— founder and CEO of Softbank— paid $ 117.5 million for a mansion in Woodside, California, the heart of upscale and wealthy Silicon Valley. While a vast majority of luxury buyers purchased houses as their primary residence; only a small percentage of buyers bought them as holiday homes or investment properties. Other interesting options such as exclusive villas, luxury apartments and farms impressed the most discerning customers, who took about five weeks to find the “perfect home.”Cities like Los Angeles and San Francisco are booming. Los Angeles has positioned itself as a generator of trends in fashion, entertainment and lifestyle, with exclusive areas such as Holmby Hills, Bel Air and Hollywood Hills. San Francisco, on the other hand, is framed by steep hills with one of the highest standards of living in the country, especially in areas such as Pacific Heights, Russian Hill and Belvedere, across the Golden Gate Bridge in Marin.Buyers opt for these properties primarily for two reasons: to acquire a larger home or improve the quality and location of the previous one. However, not all chose views towards hills or the sea. Some preferred alternative landscapes: areas near golf courses were very attractive to buyers, while others purchased property in the mountains. Real Estate around lakes and ski areas captured less interest according to different real estate reports.A curious fact highlighted in recent real estate surveys is that luxury property buyers tend to be more optimistic than regular buyers: seven out of 10 were confident the price of their property would increase in a year. And almost all said they would keep the house for a period of ten years, unlike traditional customers who usually keep their property for only six years.As a result, homebuyers in California have moved from purchasing beachside mansions to hilltop houses to better suit their lifestyles, needs and desires. ■
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