Investors eye 'spectacular' la bargains

Some of the top properties in Los Angeles' luxury sector are on the market for as little as half price, it has been reported...

Speaking to Propertywire.com, one industry expert in Beverly Hills claimed that cash-rich foreign investors from as far away as Russia, India and Dubai were snapping up bargains.

Some of the districts seeing the price of property drastically reduced include the affluent Malibu and Bel Air.

Estates director at Beverly Hills' Prudential CA Realty, Greg Moesser, told Propertywire.com: "There are some great deals to be made in the current Los Angeles luxury market.

"Sophisticated buyers understand perfecting timing and the rewards of an extraordinary opportunity, if you have the cash."

He added that some of the area's "most spectacular properties" were just beginning to become available on the market.

Source: www.propertywire.com