Las Vegas: The strongest example of hot property in the US
19 August 2013
According to data recently published by Clear Capital, Las Vegas real estate has shown exceptionally strong annual gains of 31.2% and quarterly gains of 4.3% - implying Las Vegas will lead the property market recovery – at least in the short term.
The metro is ranked 35 out of 50 in terms of market value and current low property prices are driving the recovery, as median house prices are around $145,000 in the area.
Purchasers are therefore able to advantage of current low investment prices and benefit from higher gains, without concern of being priced out of the market.
Select Resorts are currently offering for sale a number of exquisite studios, 1 & 2 bedroom apartments which are located at Veer Towers – situated right at the heart of the Las Vegas Strip. The two towers stand 37 storeys tall, and are the only fully residential buildings on the famous Strip.
Entry level studio properties are priced from $250,000, making the properties a lot more affordable than many would expect.
Pauline Bonnani, Select Resorts Managing Director comments on the recovery;
“We’ve found there’s a real demand for property in Las Vegas, and this data demonstrates the strength of the area’s property market. Veer Towers is an absolutely stunning opportunity, and as it offers a leasing program even those that don’t want to live on the strip can benefit from the current property values & benefit from guaranteed returns.”
The country’s steady recovery is being well documented and with residential real estate values across the US increasing at an average of 9.3% over the year, the recovery is taking place at a ‘healthy and sustainable pace’.