Vegas: The Hottest Highrise Condo Market in the World

Why this is the Hottest Real Estate market in the country, and why it will stay this way for the next few years. The odds favor continued growth in all major market sectors in Las Vegas housing, hotel-condos, traditional condos and single family homes.Top Reasons for a Continued Housing Boom--A big part of the Las Vegas housing demand is not what many expect, speculators and investors; but in fact the majority of buyers are second home buyers. Many people  intend to live in Las Vegas most or part of the year, this represents home value stability over the near term. --Travel and Tourism have blasted pass pre-September 2001 levels. As fast as hotel rooms are built -  they are filled. Vegas is now more then ever a world class destination, attracting vast numbers from Asia, Europe and all parts of the globe. --New jobs are being created at a winning pace of about 8% per year. Economic forecasters are calling for personal income in the area to squirt up 7.2%, and sustained population growth of 4.5% year over year with no end in sight. A 6% gaming revenue increase continues to add fuel to this incredible growth cycle. --As the premiere entertainment destination, Las Vegas remains unrivaled. Vegas continues to build on headlining major talent at it's many posh casino hotel-resorts.Ivana does the - Strip in Vegas, and Trumps Donald Major high profile developers are dealing in Las Vegas, with the happy abandon of a lose slot machine.  The major players are some of the  same companies  that changed the South Florida skyline, their goal to hit a jackpot  playing  the super hot condo market that is - Vegas, baby.Recently, Invana, Donald Trump's ex-wife,  has joined one of Las Vegas's most exciting projects on the strip, formerly called the Summit, newly renamed Ivana Trump Las Vegas. This prestigious glitzy and stylish project, is high end and in direct competition with Donald's 64 story Trump Hotel and Tower. Just a little friendly completion between ex's with Ivana's Hotel condo development due to become the highest ,  high-rise in Las Vegas, weighing in at 80 stories. Ivana Trump Las Vegas with over 900 residences will be one the largest projects so far planned, located on the NE corner of Las Vegas Boulevard South at Sahara Avenue. Centrally stationed for panoramic  views of the Strip and the Vegas skyline.  Topped with a penthouse suite, priced over $2,000 per square foot.Here are several ways to be part of this high rollers market. The newest type of projects being offered are Hotel Condo properties. You buy these like a condo, use them for planned vacations, or second homes for part of the year, and/or rent them out like hotel rooms, when you are not occupying them. A hotel management team handles all the details, leaving you free to enjoy the space whenever, and to profit from them when you do not need them. Typically hotel fees for this service run around 50% of the room rates charged. These developments have been highly successful for years in places like Florida and other resort type areas and communities.  The big draw for these properties beyond the rental income, is appreciation; which, nation wide has been greater then other housing types.So if you always wanted to do Las Vegas baby, for News Eve, but could never a book a decent room you are now set, or you have the option to take advantage of the holiday rates to add to your bank balance. There are some 80 Las Vegas residential high rise pre-construction condo projects in various stages of development alone the Las Vegas strip. Most of these are traditional condos, about 10 developments are the newer style hotel-condo, that are managed like hotels. Typical entry level accommodations start in the $300,000s for a medium sized hotel room; usually around 400 square feet, with condo style amenities; kitchen, dining area etc. The Ivana Las Vegas offers a posh penthouse palace in the sky for around $35,000,000, but you can throw a very serious  bash New Year's eve in it's vast 15,000 plus square feet. Reservation/deposit requirements for units, average a few thousand for modest priced projects to between $15,000- $25,000 for Ivana's Mega Tower. The market has been so hot lately for condos and hotel condos, that many developments, especially in locations like Florida, have seen prices soared up to 100% before the buildings are even complete. With some individuals flipping (reselling ) their units ahead of project completion, to cash in on the appreciation.Here are some of the more popular condo developments: The Residences at MGM Grand, on the grounds of the MGM, hotel-condo units, starting at $350,000 to $1,500,000, studios from 585 square feet, larger units to 1500 square feet. Enjoy all the facilities of luxury resort plus services designed for condo vacationers. Turnbery Place, 740 luxury units amidst 15 tropical landscaped acres. 1540 Square foot units begin at $560,000. Penthouse units of up to 11,000 square feet at $5,300,000. Panorama Towers, offering units form 700 to 4,000 square feet. 30 stories rising over 400 feet above the dazing Las Vegas strip, wrapped in aqua blue glass, buyers have their own personal window to views of Las Vegas that will delight. Cosmopolitan Resort and Casino, located on the Strip, next to the Bellagio, makes this a destination address. With 64 stories of luxurious hotel-condominium ownership. Retail and restaurants, Huge fitness center and 70,000 square-foot casino make this a complete apartment resort complex. Park Towers, Steve Wynn's approach to luxury condominiums. An very exclusive two tower complex with 84 unites. Amenitiesinclude 24 concierge service, valet parking, maid service, wine cellar, Hollywood screening room, tennis courts, and health spa, priced out at $900,000 to $5,000,000.