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LA’s Luxury Housing Market

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Description
FBN’s Robert Gray on the booming luxury real estate market in Los Angeles.
Duration 1:42
Date Feb 8, 2013

This transcript is automatically generated

But a lot of sellers which is sitting on the sidelines waiting for the property to come up.

A lot of the developer -- stopped developing its of -- hasn't really been any new construction come onto the market.

And we've had a big infusion of international buyers LA does have a few things going for it there's Hollywood a -- for the rich and famous.

And there are the views -- -- Palestinians.

-- view of the Pacific coast of overlooking Santa Monica -- there.

It is the greatest apartment in Los Angeles -- -- -- developer Rick Caruso is targeting the wealthy city dweller with his new luxury rentals.

At eight dollars per square foot there the most expensive in town if not on the West Coast.

It includes a rooftop pool and the concierge -- even stock your groceries and Caruso claims to offer -- the most precious amenity of all.

The one luxury that you can't find nowadays it's time right itself I can give you back time.

And welcome you home and I have all the services of a five star hotel.

A house Town Car that's just one of the perks that Rick Caruso offers residents here 8500 that no one else in LA as.

An -- here well we'll take you wherever you want to go to the airport.

We're shopping or wherever.

Tomorrow Fox Business we'll take you for an exclusive insider's view of more the robust real estate market right here in LA.

Let's go by -- -- --