FINWIRE®

Future Properties Launches Unique Investment Opportunity in Booming Las Vegas

March 11th, 2008

Future Properties, the investment focused sister agency of leading agent PURE International, has launched one of the most unique lifestyle and investment opportunities available in the US.

Situated in South West Las Vegas, Sullivan Square is a 1,300 unit, 16.5 acre mixed-use urban project, which is ideally positioned to benefit from the area’s growing economy and strong demand for high quality term rental property.

As a result, 50% of the first phase has already been sold.

Over the 12-month period ending July 2006, Las Vegas has gained nearly 50,000 jobs with a year-on-year growth rate of 5.6%, the best among the largest metro areas in the US (Deutsche Bank Market Analysis 2006).

While the economy is directly tied into the regions immense gaming industry other sectors are also contributing to growth.

The leisure/hospitality and professional/business service sectors increased 2.5% and 9.9% respectively in 2006 and are strong factors in the 7,000 professionals moving to the area each month.

“Vegas is a unique market in the US and the continued expansion of the gaming sector is spearheading growth across the board,” says Rebecca Jaques, Managing Director of Future Properties.

“By 2010 five new major casinos are to be delivered, each bringing 15,000 more jobs and more significantly, previous trends indicate that each delivery of a new casino has led to a spike in property prices; an attractive trend for would be investors.”

Another factor affecting the investment climate of Las Vegas is the clearly defined limit up to which the city can expand.

Much of the land surrounding Las Vegas is federally owned national parkland and as a result market analysts have predicted that there are only six more years of developable land available.

“This capped supply of developable land, combined with a flourishing rental market will put further upward pressure on real estate values,” adds Jaques.

“Current buyers have realised the potential this market offers.

By the time the first properties are completed there will not only be a higher domestic demand for resales and long-term quality rental property, but the US economy and dollar rate is likely to play well in their favour too.”

Entry Filed under: FINWIRE®