Shahn Douglas, chief marketing officer for DK Las Vegas, a portfolio of Las Vegas condominiums acquired in 2013, has announced the sell-out of One Las Vegas, an iconic twin-tower condominium community on Las Vegas Boulevard South. To date, DK Las Vegas has closed on 295 condo homes at the property since sales started in 2015.
“Condos were once an understated living option in Las Vegas where a culture of single-family homes has dominated the real estate market,” Douglas said. “Recently, as we emerged out of the pandemic, we knew that changing personal preferences, as well as market and economic factors would entice even more homebuyers to invest in luxury condominium living.”
According to Douglas, the convergence of low interest rates, a stable Las Vegas real estate market, relatively affordable pricing for luxury condos and shrinking condo inventories, means buyers who purchase condos now may find themselves in a particularly strong position in the future.
While the Las Vegas condo market is being driven by such factors as an influx of Californians seeking lower taxes and cost of living as well as homebuyers priced out of the single-family home market, “ultimately the decision to purchase a condo is a lifestyle choice that comes with the convenience on-site amenities and services, low-home maintenance and often, highly desirable locations in more urban areas with proximity to dining, shopping and entertainment.”