Archive for March 11th, 2005

Las Vegas Real Estate: Especially Attractive for Foreigners

Friday, March 11th, 2005

The creation of the euro in 1999 is driving European real estate bargain hunters to the U.S. in droves. The euro has risen about 10% against the dollar in the last year and more than 50% in the last three years. Meanwhile, the British pound is up about 35% from three years ago and about 5% in the last year. The weakness of the dollar has suddenly made the dream of owning a second home in the U.S. financially realistic for many Europeans. The trend has been strong in certain markets especially. Among them are Florida, New York City, California and Las Vegas homes. There’s no question that the market for real estate in Las Vegas is benefiting from overseas investment. High-rise Las Vegas real estate in particular has seen a large influx of foreign investors.