Los Angeles is one of the largest metropolitan areas in the US. The city has gained international recognition as a media and fashion Mecca with Hollywood as the global leader in entertainment. The population of Los Angeles amounted to 3.9 million people in 2014 and is expected to increase to 11.5 million by 2060.
The city’s economic growth and improving labor market will have positive effects on its property markets, in the course of the past year to June 2014 rents rose nearly 4%. This has been one of the highest rates of growth since 2010. In the two years to June 2016, rents in Los Angeles are expected to grow approximately 8%. Property capital appreciation rates have experienced double-digit growth of nearly 29% from 2005 to 2015, making the Los Angeles property market a leading performer country wide.