Condos for sale
Many of the new Las Vegas condos for sale are on The Strip, as more and more luxury condo projects are announced monthly. These luxury residences feature beautiful architecture, security, and many enhanced features in the individual units. The MGM Grand Residences are unique among Las Vegas condos for sale in that they come fully furnished, and residents can choose to let the hotel to rent them out when they are not using them. Las Vegas condos for sale in these new developments, as of late 2003, start in the $300,000's and go up into the millions.
New construction of Las Vegas condos for sale includes the Metropolis, Turnberry Place, MGM Grand Residences, Park Towers, the Vegas Grand, Panorama Towers and the Soho Lofts.
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Some hot Las Vegas condos for sale are in retirement communities. Solera, located in Henderson's Anthem Hills, is an upscale but more affordable new community. The retirement units in Sun City Anthem are considered very desirable among Las Vegas condos for sale, with their many amenities and 2003 appreciation rates reported to be as much as 3% per month.
In contrast to the boom of new construction near The Strip, the overall number of newly built Las Vegas condos for sale has decreased in the suburbs. Current new development is concentrated in the west submarkets and the outskirts of Spring Valley. The average price for a new condo in the suburbs, as of late 2003, is $45,905 per unit.
Investors are also much more welcome in new releases of Las Vegas condos for sale than new single-family suburban residences, which frequently limit or disallow investors. Rents in Las Vegas are poised to increase according to some experts, and 38% of Las Vegas residents are renters, so Las Vegas condos for sale can be a wise investment. However, the increasing vacancy rate of rentals in the suburbs is an important investment factor to consider.
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