BEVERLY HILLS, CA—ETCO Homes has already sold half of the units released in phase I of 460 Palm, a 35-unit condo development in Beverly Hills, CA, and several unreleased units. In total, about one-third of the project has been sold. According to ETCO Homes, this illustrates the high demand for condo living in Beverly Hills.

“We have seen some appreciation, obviously, over the last couple of years, but what is driving demand more than anything else is the lack of supply in the immediate area coupled with the major rise in home prices,” Bob Etebar, president of ETCO Homes tells GlobeSt.com. “The home market is significantly higher from a price-point perspective, so if you want to be in the Beverly Hills market, we feel like we are a great alternative. Given that there is no new supply in the Beverly Hills area, we are supplying that option.”

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