Business Chief USA – August 2019

he United States’ second most-populated

metropolitan area, Los Angeles County

sprawls across more than 4,000 sq m

and is home to in excess of 10mn people. The City

of Los Angeles itself houses more than 4mn human

beings, as well as the heart of the global entertain-

ment industry, and home to Fortune 500

companies like CBRE Group, AECOM and KB

Home. In 2017, the tri-county area of Los Angeles-

Long Beach-Anaheim reached a collective GDP

of more than US$1trn. However, while the average

cost of living in the city is 48.2% higher than

the national average, according to Kiplinger,

median household incomes are roughly $3,00

below the US median point. This hasn’t stopped

people flocking to America’s second city though,

drawn by its cultural prominence and aesthetic

of glamorous excess. 

Famously, the principalities of the rich and

famous, Los Angeles neighborhoods like Bel Air

and Beverly Hills boast some of the largest, most

expensive properties in the country. Complete with

12 bedrooms, 21 bathrooms, three kitchens and five

bars - not to mention a spa and massage studio,

fitness center and 85-foot infinity swimming pool -

924 Bel Air Road is comfortably the most expensive

home on the market in the state today,

with a $188mn price tag.  

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CITY FOCUS | CHICAGO

AUGUST 2019

CITY FOCUS | LOS ANGELES