By John Harlow | Editor-in-Chief
Whilst Palisadian house prices take a breath from their headlong rush ever upwards, softening for the first time in three years thanks in part to an abundance of spec houses, Realtors and agents say there was no parallel weaknesses in the rental market.
A shortage of smaller rental properties ensured that prices have continued to rise, according to zillow.com, which is listing around 60 available properties this week.
Homes are up for long-term rent at around $9,000 per month, up from $6,500 two years ago and three times as high as in in neighboring areas such as Brentwood.
Apartments are on the market for around $3,500 per month and shared rooms $2,500.
The unchallenged queen of this summer’s rental has proven to be, maybe no surprise here, a celebrity home: Brooke Shields’ home in The Rivera.
The Swiss chalet-styled mansion, once reportedly occupied by Ben Affleck and Jennifer Garner when their own home was being reworked, features five bedrooms, 5.5 bathrooms and a Blue Lagoon pool—a reference to the actress/model’s eponymous 1980 hit.
The floors are all Douglas Fir, with Viking appliances in the kitchen, four bedrooms on the ground floor and a master bedroom suite, which occupies the entire upper floor.
Shields, who spends most of her time in New York, rented the 5,000-square-foot home out for $27,500 per month, according to trulia.com.
This page is available to subscribers. Click here to sign in or get access.
