60 seconds on LA's appeal for real estate investors
Tom Walker explains why Los Angeles is one of the most attractive cities in the US for real estate investing.
Los Angeles is one of the global cities we are most optimistic about. There are a number of reasons for this. Firstly, it is the second most populous city in the US, with a very diverse economy supporting it, providing plenty of reasons for people to move there.
There is also a very constrained planning environment, which really helps landlords increase rental income streams year after year.
One interesting trend is is the battle for content on our television screens. The likes of Netflix, Google and Amazon are demanding far more space to enable them to deliver new programmes to viewers around the world.
We have just seen Netflix take a very large pre-let of one of the development sites in West Hollywood and we think this trend is likely to continue. Therefore rental income streams should continue to grow this year and into the future.