The benefits of living by the sea have been long discussed in the public sphere. Not just for the beautiful surroundings, sea air has been credited with aiding sleep due to its high oxygen content, lower stress levels and a stronger immune system. Living by the sea also provides access to an environment that encourages healthy levels of activity and exercise and boosts creativity.
The most popular destinations this summer season are Beverly Hills, Miami and the Bahamas. Famed for sandy beaches, crystal blue waters and trendy neighbourhoods. Luxury property in these locations offer tranquil and stylish living with uninterrupted views of the ocean whilst offering a lifestyle like no other.
We have progressively noticed that international property buyers looking in these well-known coastal destinations are not only just looking for a family home but they are in search for second, third or fourth homes which will be used as holiday homes in the summer months.
Financially speaking, it is a great time to buy in these locations. Since the record high in property prices in Los Angeles last year, we are finally seeing a decline in prices and the market is cooling off a bit. The construction of luxury new builds in the area is encouraging to prospective millennial buyers looking to purchase their first family homes. The area is made more attractive by the new football stadium in Inglewood and emergence of tech hubs on the westside. It is worth bearing in mind that with several huge Silicon Valley IPOs (Uber, Lyft, Slack and Airbnb) scheduled to occur within the following year, huge cash infusions and an increase in house prices can be expected across the state.