Three years before the 2028 Olympic flame is lit, the local real estate market is heating up. The demand is coming from a mix of clients, including world-renowned athletes, affluent tourists, Olympic federations and major sports brands, according to a report in the Los Angeles Times. They are asking brokers and real estate firms to secure them prime properties to use during the games.
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The Los Angeles Coliseum stadium where the opening ceremony will be held
(Photo: AP/Richard Vogel)
Hank Stark, founder of ultra-luxury vacation rental company LuxJB, said his portfolio ranges from villas priced at $1,900 per night to mega mansions at $150,000 per night.
Three of the company’s 14 Los Angeles mansions are already reserved for the Olympic Games. A 39,000-square-foot mansion is rented out from January 2028 to August 2028 for $2.4 million, paid in advance.
Stark said his office is receiving multiple calls a week from renters eyeing properties in Beverly Hills, the Hollywood Hills and West Hollywood. He said elite athletes have specific needs. “You can’t put Cristiano Ronaldo in a hotel room surrounded by strangers. He’s the most valuable player in the world,” Stark told the LA Times.
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Beverly Hills. One of the neighborhoods most sought after by tourists and companies
(Photo: shutterstock)
Mokhtar Jabli, founder of The Nightfall Group, another luxury rental company, told the LA Times his firm has secured a $160,000 booking for the 2028 games. He said rental prices are already 40% higher for the 2028 Olympic Games. He expects that number to climb.
The early rush for luxury rentals is also adding pressure to Los Angeles’ already tight housing market. Demand is coming not only from occasional spectators but also from sports organizations and companies looking for a long-term presence in the city.
The trend is pushing rental prices higher and highlights the economic impact the Olympics will have on the region’s housing market long before the games begin.