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Business Chief USA August 2019

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CITY FOCUS | LOS ANGELES<br />

Luxury mega mansions aside,<br />

the Los Angeles property market is<br />

potentially fertile ground for real<br />

estate businesses. In December 2018,<br />

the median property price in Los Angeles<br />

was $879.5K, trending up 12.9%<br />

year-over-year, according to research<br />

done by Norada Real Estate. The city<br />

is also reportedly in the grips of a<br />

housing shortage. With this combination<br />

of high demand<br />

‘The average<br />

cost of living<br />

in Los Angeles<br />

is 48.2% higher<br />

than the national<br />

average’<br />

74<br />

AUGUST <strong>2019</strong>

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