Las Vegas high rise luxury condo expert Paul Murad and writer of the book "Manhattanizing Las Vegas" was the keynote speaker at Tuesday's "Las Vegas Perspective" where he indicated that Las Vegas has just "scratched the surface" in the luxury high rise market.
According to Murad, the first phase of Manhattanization is over and the market is now entering the second phase. Although what the first phase and second phase isn't clearly defined, it seems to me it goes like this: the first phase was the frenzy. The second phase is the weeding out of the unrealistic projects. One thing is certain: the housing demand in Las Vegas is strong, but the trend is definitely toward vertical construction and retail.
The bottom line is this: almost every high rise condo project that has started construction is or will be successful. If you've bought into a project that's broken ground (and if you read this blog regularily, you should have), just sit back and relax - or buy another! It's up to the savvy buyers out there to recognize opportunity and take action in this still very young, still growing, and ultimately profitable marketplace.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment