As a senior real estate editor, he was invited to inspect real estate projects in the Coachella area of Palm Springs, Los Angeles. What kind of place is this, and are the real estate projects worth investing in? With great curiosity, I did a brief analysis of the hotel real estate market in this area.
The Palm Springs area is known as the backyard of Hollywood stars and the "paradise of American Presidents." The Rancho Mirage area is so popular with celebrities that even retiring President Barack Obama chose it as his first post-presidency residence.
I simply checked the housing price of coachella area on zillow, and found that the price of new houses is about $300,000 to $500,000. Most of them are spacious villa projects. The typical villa houses in the United States have no property service and need to be managed by the owners themselves.
When looking at passenger traffic in an area, I usually look at traffic at the local airport and hotel room reservations.
In 2014, 1.91 million passengers passed through Palm Springs International Airport, an average annual growth rate of 5%, according to a report by HVS, an authoritative hospitality industry research firm.
The Palm Springs area is popular for its many top international music festivals, fashion weeks, film festivals, golf and tennis events.
The following figures are also from the official HVS report.
The Palm Springs International Film Festival attracts 135,000 visitors a year
l The BNP attracts 30,000 visitors a year
Coachella attracts 100,000 visitors a year
The Beach Music Festival attracts 55,000 visitors a year
Before my trip, it was between Christmas and New Year. I casually checked the hotel reservation information on BOOKING.COM, and almost all the hotels at different prices were fully booked.
A quick look at images from Coachella Music Festival in March and Carriage Music Festival in July seems to confirm its popularity.
If you can invest in a hotel real estate project here, it seems to be a good choice.
I will do more research on the project itself.
Stay tuned.
