Polished: Market Update

From busier than usual beach parking to longer lines for dining al fresco, and the slight underlying scent of sunscreen… all the signs of another exciting summer abound. It seems there is fun to be had and it’s all outdoors in an attempt to catch a breeze in this heat!

The rise in temps all around can also be seen cooking up the rising rents in the area! The sales of apartment buildings in the South Bay have nearly tripled recently. Giving the new owners a fantastic reason to do a few upgrades (great for the construction companies!) and therefore pass that cost onto their tenants.

This rise in rental property transactions have been linked to several factors including reality TV renovation shows as well as the soon to be finished NFL stadium. It’s more than likely a combination of a few factors. No matter how you look at it, upgrading current buildings brings a new found inspiration for economic growth throughout the area.

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