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Las
Vegas Real Estate Report > Condos
Condos
More and more Las Vegas condos are being built near The Strip. These tend
to be luxury residences. Some of the Las Vegas condos recently
built and currently under construction include the guard-gated Vegas
Grand and the MGM Grand Residences. The MGM towers feature fully furnished
Las Vegas condos that the hotel will rent out when you are
not using them, making them ideal business residences. Other existing
developments include the Soho Lofts, and the Holsum Bread Lofts. Most
of these Las Vegas condos offer beautiful architecture and
décor, security, parking, in-house health clubs and spas, and
a number of other amenities.
Las Vegas condos in this category start in the $300,000 range and can run well
into the millions. Investors are more welcome in first offerings for these luxury
Las Vegas condos than in new releases of suburban homes.
Las Vegas condos for sale in the suburbs averaged around $45,000 by the end
of 2003. Suburban Las Vegas condos range from the moderately priced to very exclusive
luxury properties in gated golf communities, and sought-after master planned community
residences. New construction is decreasing, and is concentrated in the west submarkets,
and in the outskirts of Spring Valley.
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A rapidly increasing market for Las Vegas condos can be found in the age-restricted
communities springing up all over the suburbs. Solera in Henderson’s Anthem
Hills community is one of the more popular communities of Las Vegas condos. It’s
considered upscale, but also comparatively affordable. Owners of Sun City Anthem’s
more luxurious age-restricted Las Vegas condos are enjoying appreciation rates
as high as 3% per month, as of the end of 2003. Las Vegas condos in age-restricted
buildings offer amenities such as golf course access, and are geared toward people
of or near retirement age and older. Residents don’t necessarily have to
be retired, but are often looking to enjoy increased leisure time in the company
of people of their own age.
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