Las Vegas Real Estate: High Rise Hype?

According to a Wall Street analyst at Deutsche Bank, no more than 30-40% of the proposed high-rise Las Vegas real estate condo projects that have been announced in Las Vegas will actually get built. Local real estate experts have been saying the same thing for most of the last year. Stan Kates, who has marketed more than 55,000 luxury condo units across the country and in Toronto, said he thinks all of the projects in Las Vegas will get built over the next five to 10 years, though not necessarily by the current owners. The two most important factors driving the urbanization trend in Las Vegas are the dwindling supply of developable land in the valley and escalating land prices. MS Las Vegas Real Estate urges potential buyers to approach the high-rise market with caution. Better yet….take a look at the market for Las Vegas luxury homes, you may be pleasantly surprised.

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