Las Vegas Condos are becoming the trend in urban Las Vegas living. With limitations on the amount of land that can be developed in the Las Vegas valley, many developers are building up instead of out. There are over 40 new Las Vegas high rise preconstruction condo projects in the planning stages for Las Vegas. All of these projects feature fabulous amenities like state of the art work-out facilities, conference centers, valet services, maid services, spas, gourmet dining and resort style pools. Pricing ranges from the low $400s for a small studio to the millions for luxury 6,000+ square foot penthouse suites with incredible views. There are two different kinds of high/mid rise condos being built: residential for long term living, and condo hotels for short term rentals. The residential condos are for those looking to make it their primary residence or a second home. The condo hotel concept works like this. You purchase a condo in a world class resort or hotel and when you don’t use it, the unit can be put into the hotels management system. The management then rents the unit for you and handles everything including cleaning. The hotel’s management takes a percentage of the rental fee, typically 50% for this service.

Condo conversions are also having a major impact on the housing market. As first time home buyers are struggling to find affordable home ownership, condo conversions of existing luxury apartments are providing a lower cost alternative to single family homes and new luxury condos. Prices start in the mid $100s to the mid $300s on these conversions.