High-End Apartment Construction Dominates in Greater Los Angeles

Apartment construction in greater Los Angeles has overwhelmingly comprised higher-end four- and five-star projects recently. In the past 10 years, the market witnessed 89,000 net new units added. Around 95% of those units were in higher-end four- and five-star properties. Given the area’s chronic housing shortage, particularly for affordable apartments, many wish developers would focus more on economical properties.