Las Vegas is one of the most sought-after places to invest in real estate with its world-class entertainment, first-rate amenities, amazing attractions, excellent tax benefits, manageable cost of living, and prime real estate options. Luxury real estate in Las Vegas is a particularly excellent investment for those who seek the good life in Sin City. Here are some reasons why you should consider investing in Las Vegas luxury real estate.
PRIME LOCATION, EXCELLENT HOME FEATURES, AND FIRST-RATE AMENITIES
Home buyers and investors alike are spoilt for choice when it comes to real estate options in the world’s entertainment capital. From opulent condos to expansive estates to golf properties and ranches, there’s a home waiting for you in Las Vegas. Choose from homes with breathtaking views – from the stunning desert to manicured golf courses to the beautiful skyline. Aside from exceptional architecture, landscaping, and finishes, Las Vegas luxury real estate also boasts special amenities including a chefs’ gourmet kitchen, pools, outdoor living areas, and car lifts.
EXCELLENT TAX BENEFITS
No personal income tax or corporate income tax is imposed in the state of Nevada, nor is there a tax added to medicine or food. Additionally, the state’s property tax rate is one of the lowest in the country at just 0.69%, compared to the national average of 1.08%.
HIGH QUALITY OF LIFE
Las Vegas is well-known as a popular tourist destination, but not many realize that the city has evolved into a highly desirable community that offers a comfortable lifestyle for individuals, young families, and retirees. With a Las Vegas address, you’ll have easy access to world-famous attractions, as well as shopping, dining, and spectacular entertainment venues. Apart from the glitz and glamor usually associated with the Las Vegas Strip, this family-friendly Nevada city provides a variety of exciting outdoor activities.
LAS VEGAS LUXURY HOMES ARE MORE AFFORDABLE THAN IN OTHER CITIES
Las Vegas luxury homes offer more than you pay for. While the metro’s average home price is higher than the national average, it’s still relatively low compared to other major urban areas like Los Angeles and New York. In October 2020, the median listing price for a home in Las Vegas was $181 per square foot. During the same period, the median listing price in Los Angeles was $552 and $618 in New York.
HANDSOME RETURN ON INVESTMENT
In 2022, the real estate market in Las Vegas reached new heights and is expected to continue its upward climb in the coming years. Luxury home prices in Las Vegas, for instance, are expected to rise 9.7% in 2023.
Consequently, wealthy buyers will seek secure investments, and a luxury home is a great option. Furthermore, tourists from all over the world will keep on visiting Las Vegas as it remains a popular vacation destination. Owning a luxurious Las Vegas home means you can rent it out in the long term or use it as a vacation rental. Nevertheless, whether you live in your home or rent it out, you’ll make a good profit.
MAKE YOUR LAS VEGAS LUXURY REAL ESTATE INVESTMENT TODAY
All of these reasons make it clear that Las Vegas is a great place to invest in property. Whether you’re looking to invest in luxury real estate or just need assistance in finding the right property for you, you can come to me – Realtor Anthony Romeo – for guidance. Reach out to me by calling 702.353.6759. You may also send an email.