Wednesday, August 10, 2005

Las Vegas High-Rises Attracting Foreign Investors

Builders and developers from different parts of Unites States have started developing high-rise condominium towers for the residents as well as the visitors from abroad who would like to invest in Las Vegas real estate and almost all of these properties were sold out quickly.

Foreign investors though keenly interested in buying real estate in Las Vegas were thwarted by many builders' restrictions that only people who are actually going to stay in these houses could buy them. The builders did not want to have rows of empty houses, which would have bought their home prices down. There is no such restriction on high-rise condos and so investors rushed in to buy out these condo units and most high-rises were sold out with in days of their opening up for sales.

Rising real estate prices are a great investment opportunity for people around the world and many international buyers are flocking to Las Vegas seeing the market conditions of a booming economy, record numbers of new jobs created, great business opportunities available, zero state and income taxes all attract investors to this land of plenty. Las Vegas has seen the largest appreciation gains in the housing market. The houses sold at 47.3% more than last year.

posted by Diane @ 4:11 AM