Las Vegas epitomizes the glitzy and glamorous way of life. It is the playground of the rich and famous. The world famous casinos, music theaters, luxury hotels and theme amusement centers make Las Vegas real estate investment a worthwhile choice to consider.
Las Vegas is located in the state of Nevada and was a sleepy little town until the 1930s. With the growth in the hospitality and entertainment industry, it acquired the sheen of a perfect destination for relaxation. Casinos where one could splurge as if there was no tomorrow and the luxury hotels to cater to the whims of the super rich have created a boom in real estate in the city.
Las Vegas real estate investment is profitable primarily because the city is registering growing traffic due to the gaming industry and business convention meetings. The luxury hotels cater to the high-end segment and there is a demand for affordable accommodation for the large number of families arriving as tourists.
There are some compelling reasons why you can make money in Las Vegas real estate investment.
? The strip on which most of the attractions of Las Vegas are located commands a premium. Therefore, finding a suitable property close to the strip would allow you higher rental yields. Some developers, especially of resorts, have created apartments that they rent out on your behalf. Las Vegas is a popular destination for family vacations and endless hours of shopping. Prime commercial property would translate into good rentals and high capital appreciation.
? If you cannot afford the city center, then think of property in any of the redeveloped areas. These have been earmarked by the Nevada administration to ease congestion on the central districts while attracting further investment.
? Las Vegas is close to the Nellis Air Force Base. Employees of the base would need businesses to cater to their needs. Commercial property in the area would mean good rentals from companies that wish to provide different services.
Copyright ? 2006 Joel Teo. All rights reserved.
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