Las Vegas Luxury Real Estate Market is Taking off! Mandarin Oriental Las Vegas Condos
Mandarin Oriental Las Vegas
The Las Vegas Luxury Market is going full steam ahead with 16 Mandarin Oriental Condos sold in the first month of 2014! It was not to long a go the high end market in Las Vegas seamed bleak to spectators. After the recession hit the luxury market slowed but then after 18 months it started to drop. All home prices had hit bottom in 2011 for Nevada. Since then it has been years of record growth and renewed faith. With back to back years of 20% or more growth in home prices buyers and jumping back into the market with a security level not seen since 2004.
You cant build that for this price!
Right now the hot spot for buyers in Las Vegas is The Mandarin Oriental. With prices from as low as $632 a SqFt. you can not build the tower again for that price. When the numbers start looking like this buyers can feel secure knowing the only way to go is up. Originally slated to sell for $1,600 a SqFt new owners are getting luxury condos and the best location in town at more then 60% off.
The Numbers look Great but the Tower looks Better.
The hotel holds the AAA Five Diamond Award and three Forbes Five Star Awards, one for every category. This makes the hotel one of only six in the United States and thirteen in the world to hold such a title. The hotel is considered to be one of the finest hotels in the world.