Las Vegas Luxury Condominium market spotted by foreign buyers.

Internationally awarded and recognized, Luxury Realty Group is respected for setting a golden standard in elegance, service, exclusivity, and technology. Through its integrity to client representation and privacy, the boutique real estate firm has earned the trust of some of the world’s most prominent figures.

Luxury Realty Group is comprised of just a few hand-selected members, all invited into the firm because of their knowledge and experience with high-rise condominiums and fine homes. From cutting-edge websites to some of the most expensive sales in Las Vegas history, everyone walks the talk.

As consultants to several Wall Street Firms and the Associated Press, members of Luxury Realty Group make regular appearances in the media including CNBC, ABC News, CBS News, FOX News, Wall Street Journal, Forbes, Fortune, New York Times, and Los Angeles Times.

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Las Vegas Luxury Condominium market spotted by foreign buyers.

Posted by - October 13th, 2007
Categories: High Rise Condos

It is common knowledge that the propensity of the United States to print money at will the last few years has driven the value of the dollar to historic lows. While painful to Americans traveling abroad, this is a treat to savvy foreign investors in cities like Las Vegas.

These investors have been quietly buying vacation and second homes in the Las Vegas luxury residential real estate market.

“The Las Vegas Stip and MGM CityCenter, under construction”

With these favorable exchange rates, foreigners are locking in substantial discounts. In some cases buyers are paying for property, under construction, in full at signing to lock in the full benefit of the favorable rates.

Many developers are well aware of this trend and are taking action,… as the domestic demand for high end property has slowed, their marketing efforts have diversified into foreign markets…… Case in point, MGM Mirage will open a sales office in Dubai to market the Luxury high-rise Condominiums and Condo hotels that make up the residential offerings in their 7.8 Billion dollar CityCenter project.

Foreign businesses have also joined this trend. According to the Wall Street Journal, foreign businesses bought 11.3 billion of U. S. real estate in 2006. A 45% increase from the previous year.

These foreign investors know more about the Las Vegas market than just the favorable exchange rates. The combination of a soft domestic real estate market and an estimated 30 Billion dollars of capital investment underway in the prime strip area, combine to make this a rare opportunity to own prime luxury real estate in Las Vegas.

At Luxury Realty Group we recognize this opportunity. If you have considered sharing in the amazing growth of Las Vegas, contact us to discuss the possibilities. We specialize in luxury property on and near the Las Vegas Strip and are preferred agents in the above mentioned MGM Mirage City Center project.

tom@luxuryrealtygroup.com or direct (702) 250-6355

More expert advice on the current state of real estate from cnbc.

http://www.cnbc.com/id/15840232?video=561559191

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Las Vegas Luxury Condominium market spotted by foreign buyers.