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Condo Demand Is Through the Roof

BEVERLY HILLS, CA—The first phase of ETCO Homes' newest luxury condo development 460 Palm is already half sold, illustrating the high demand for condominiums in the market.

By Kelsi Maree Borland | Updated on March 19, 2015

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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