If you read the latest high rise article from the Las Vegas Review Journal, you'd swear the outlook for High Rise condos in Las Vegas isn't as rosy as it appears. However, consider the fact that you need $100,000 just to reserve a one-bedroom unit in the Cosmopolitan project and there aren't many left. Or that Trump claims to be all sold out of their units. For that matter, investigate just about all the projects currently being marketed and they'll tell you their sales are brisk.
Yes, there are 100 or so high rise condo projects proposed in the Las Vegas valley, and true, not all will ever get built. But since the demise of the Krystle Sands project, the media seems to be using that collapse as proof of a shaky high rise future. That just isn't the case. With several new projects under construction, including the Metropolis, SoHo Lofts and Panorama, and others just about ready to break ground, the timing is still right for investors and owner occupants to get into the picture.
Will only 50% of the 100 projects actually be completed? How about 40%... or even 30%? The answer is simple - It doesn't matter. That is, as long as you're in the ones that do get built!
My analysis concludes that the Cosmopolitan, Residences at MGM, Turnberry Towers, Icon, Panorama, and Sky Las Vegas are your current best bets for project stability and overall capital appreciation. Now, if you only had the money!
The bottom line is any fears of overbuilding should be laid to rest by all the marketing studies proving that only the tip of the booming condo market has been realized so far. Buy now... and thank your real estate agent later.
Email us for information on reserving a unit or for more information on any condo / hotel project in town.
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