Google+  

Las Vegas Strip Condos in Demand as Apartments Dwindle

Condos For Sale In Las Vegas Strip have increased in demand as a shortage of apartments continues to keep renters on the look out for new opportunities. In a town where the cookie-cutter home rules, renters have often had trouble finding a place to live. With a large number of renters the apartment market is on the rebound making condos a potentially good investment for those interested in becoming landlords.

With the potential to entice high end, dependable renters to snatch up apartment units for a rent as high as $4000 per month for even a basic unit many investors are on the look out for condos for sale in Las Vegas strip locations. It is just common sense that as vacancies continue to shrink renters will be up to renting what they can. This is not only driving the real estate market but bringing more jobs into the Las Vegas area for the trades.

Although people are wary due to the economy collapse when the apartment market fell this was due to many renters losing their jobs. Now there are more renters as many people who lost their jobs and have rejoined the work force unfortunately lost their homes. These people are now unable to buy homes and are therefore being forced to rent.

In hand with the demand for rental units more investors are beginning to look for projects on the strip including hotels, renovations and retail units. These units will draw more jobs to the resort corridor of the valley which is and always has been the main job source in the area. With job growth will come the need for housing.

It is just common sense that with a swell in jobs the demand for apartment units will rise. This will make condo prices rise making it a good investment now before prices go up. Whether buying for your own home or with the intent to rent you are likely to see an excellent ROI with the prospects of rising housing prices.

If you are looking for the best opportunities look for high-end amenities and finishes in order to be able to charge a higher rent as well as be able to attract a higher calibre of tenant. You will be able to charge well above the current local averages which will probably be even higher once your unit is ready for tenants.

1 person likes this post.

Shares
Share This