Techies snatching up more real estate in Southern California
April 10, 2015
LOS ANGELES (AP) — Internet moguls like Amazon’s Jeff Bezos aren’t the only techies snatching up real estate in Southern California.
While the mega rich from Silicon Valley have made headlines for their purchases of extravagant Los Angeles homes, the city has become increasingly appealing to a trove of angel investors and startup entrepreneurs as well.
The new buyers are drawn to the city for a mix of personal, financial and work-related reasons, the Los Angeles Times reports.
Los Angeles offers a growing tech scene, warmer weather and more space for less money.
“We’ve seen an uptick in buyers from the technology industry over the last several years — some moving to Los Angeles and some buying second homes here, as a kind of peaceful retreat,” Charles Black, executive vice president of marketing and strategic development at Hilton & Hyland, told the Times.