Las Vegas real estate market offers unique investment opportunity unparalleled by anything seen before. While the US market has experienced the deepest housing and credit market crisis in the recent history, and is still volatile and slow to recover, some states and counties show a faster recovery. Some of the traditionally popular real estate markets-in Florida, California, North and South Carolina, Nevada and Arizona show vital signs of recovery, driving the US real estate market out of recession. Las Vegas has been evaluated by some real estate firms as the most promising real estate market in current time. City development and growing employment, combined with outstanding climate, excellent quality of life and entertainment options all magnify the appeal of Las Vegas real estate investment. Las Vegas’ growing employment is increasing demand in housing which in turn guarantees the appreciation of real estate.
Due to these factors, Las Vegas real estate market has seen unprecedented surge of activity in the recent months. Its range of real estate properties, including high-rise condos, luxury homes, vacation homes, retirement residences, golf courses are now going at a speed of a forest fire. Out of thousands of properties listed, almost half have been already purchased by US and foreign investors, plenty of them for one cash payment. Las Vegas foreclosures, short sales and reo properties are being offered for phenomenally low prices. Those investors purchasing for their own use, either for long term holding or short-term flipping, or rental conversion are all in for substantial profits. Although there has been a debate whether the real estate in Las Vegas will appreciate again and how much rental demand will rise, statistics show high returns on recently purchased Las Vegas real estate properties.