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Las
Vegas Real Estate Report > Luxury Real Estate
Luxury Real Estate
Las Vegas luxury real estate falls into many categories, from upscale single-family homes to grand estates and mansions; from luxurious suburban condos to multi-billion dollar high-rises near The Strip, and posh retirement communities.
The area around The Strip offers some of the most elaborate Las Vegas luxury real estate, with new developments of luxury condos announced monthly. Some of the newest include the Metropolis, Turnberry Place, MGM Grand Residences, Park Towers, the Vegas Grand, Panorama Towers and the Soho Lofts. Prices for these luxurious condos begin in the $300,000s and go well into the millions. Amenities offered include health and fitness spas, pools, tennis courts, wine cellars, beauty salons, guarded-gate security, parking, business facilities, movie screening rooms, limousines, maid service and 24-hour concierge service. A unique feature of the new MGM Grand Residences, which come fully furnished, is the ability to let the hotel rent out your space when you are not using it.
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A new Las Vegas luxury real estate development called Versailles is under construction close to the Red Rock Mountains. These condos will be among the most expensive Las Vegas luxury real estate, priced as high as $7,000,000 for a three-floor unit, and offering amenities comparable to the hotel of the same name.
Many retirement condos in the area also fall into the category of Las Vegas luxury real estate. These are located in the quieter, more suburban areas. Solera, located in Henderson's Anthem Highlands, is a more moderately priced but very posh retirement community. Sun City Anthem, offering some of the most upscale retirement Las Vegas luxury real estate, is currently enjoying an appreciation rate of as much as 3% per month.
Although sales of multi-million dollar homes have increased steadily since 1999, the market is much softer for single-family Las Vegas luxury real estate. Homes priced at over $2 million tend to be on the market for months, or even as much as a year; some sellers are offering incentives packages to perspective buyers for homes over $6 million.
Some of the master-planned communities feature neighborhoods with Las Vegas luxury real estate. Homes offer features such as waterfront access, city and mountain views and guard-gated security. Many luxury homes are built on or adjacent to the best golf courses, such as the Red Rock Country Club. Most of this Las Vegas luxury real estate is located in communities such as Summerlin, Lake Las Vegas, Canyon Gate, Anthem and Southern Highlands. In these communities, Las Vegas luxury real estate ranges in price from the high $500,000s up into the millions.
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