Newport Beach, which is situated directly on the Pacific coast of Southern California, is one of the trendiest hotspots in the western USA. The short distance to Los Angeles, which is only about three quarters of an hour’s drive away, makes it a magnet for those seeking a relaxed lifestyle while at the same time wanting to be close to a big city.
There is no shortage of entertainment and events in the vicinity of Newport Beach. The popular Coachella Festival is currently in full swing in the desert town of Indio, 200 km away, and the Newport Beach Film Festival will be starting on 21 April 2016. At the Coachella Festival, hipsters, hippies and celebrities dance under the hot sun to the sounds of some of the biggest names in the music industry. More and more Hollywood stars come to the festival each year, flying in to Coachella Valley by private jet or spending their time in air-conditioned tents with an own private swimming pool. Not far from the festival, Newport Beach beckons with a large number of exclusive restaurants and designer shops, always among the top ten cities in California in terms of quality of life.
California is a hub for the international jet set, and the demand for high-quality real estate in the region is correspondingly high – something that Gary Longobardo, Sales Manager of Engel & Völkers Newport Beach, is well aware of: “Here we have a large number of real estate buyers and not that many properties on the market. This makes prices skyrocket, especially when it comes to luxury real estate directly on the coast.” About 50% of the buyers are from the surrounding region, but more and more investors from Asia, the Middle East, Canada and Germany are interested in real estate in this city of around 80,000 inhabitants. What features are particularly in demand? “Modern equipped homes with high-tech kitchens, low energy costs and the corresponding solar cell technology are currently high in demand”, reports Longobardo.