No housing permits have been issued in Malibu since the 2025 fires.
Quick Look
Since the January 2025 fires, no occupancy permits have been issued in Malibu, many homeowners have sold properties due to financial risks and complex coastal building requirements, the average value of existing homes has dropped by several percent, and the price of vacant lots has increased by 15%.
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Why It Matters
In January 2025, fires in Los Angeles destroyed more than 12 thousand buildings, killed 29 people, and caused damage estimated at tens of billions of dollars.
No housing permits have been issued in Malibu since the January 2025 fires.
Many homeowners have chosen to sell the property rather than take on the financial risk and spend years complying with complex coastal building requirements.
The average price of existing homes in Malibu dropped by several percent, while the price of vacant lots increased by 15%.
WASHINGTON, September 5 - RIA Novosti. Residents of the city of Malibu in the vicinity of Los Angeles are in no hurry to restore houses that burned down in January 2025, plots worth millions of dollars are empty, and the authorities have not issued a single entry permit, a large American real estate company Realtor told RIA Novosti.
“To date, not a single permit has been issued in the city to put housing into operation, which means that not a single destroyed house has been fully restored,” the company said in response to the agency’s request.
It noted that the city has issued more than 1,100 permits for restoration and temporary structures, but only 92 for actual construction.
“As a result, many homeowners chose to minimize losses and sell the property rather than take on the enormous financial risks and spend years complying with the complex requirements of coastal construction in Malibu,” the company said.
According to this information, strict construction standards on the coastal line include assessing the effects of waves and tides, installing expensive autonomous sewer systems, installing dams and fortifications.
According to the company, the average price of existing homes in Malibu is down a few percent from last year to $5.7 million, while the price of vacant lots has jumped 15 percent to an average of $1.5 million.
As reported, in January 2025, fires engulfed several areas of Los Angeles. The fire area was approximately 15.8 thousand hectares. The fire destroyed populated areas and more than 12 thousand buildings. 29 people died in the fire, about 18 thousand were evacuated. The amount of damage was estimated at tens of billions of dollars. The fire was so powerful that it was visible from Earth's orbit. Photos of burning Los Angeles were taken by Roscosmos' Resurs-P satellite.
Open Questions
- When do the authorities plan to simplify the procedure for issuing permits for restoration?
- Will government funding be introduced for affected homeowners?
- How will insurance premiums change in Malibu after the fires?
