Oceanfront homes in Malibu, destroyed by wildfires seven months ago, are being sold for millions despite being vacant. With the beach's allure and limited availability, these properties remain desired. Real estate agents emphasize that beachfront properties are rare, leading to a push for buyers to acquire land before prices rise. For example, a 6,200-square-foot lot with ocean views is listed for $2.75 million. Experts note that Malibu's appeal remains strong due to its coastline and nearby mountains, offering numerous recreational activities.
"They're not making any more beachfront properties," Josh Flagg, a real estate agent in Los Angeles, said. "There are only so many properties available, and the smart people will be taking these lots now before the demand picks up, which it inevitably will."
Before the fires, it would not have been possible to buy on the beach in Malibu at a price this low," Flagg said.
You've got a world-class coastline on one side and the Santa Monica Mountains on the other, perfect for surfing, horseback riding, hiking, private beaches, and those unreal sunsets."
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