Tough Market
The past two years has shown the Las Vegas condo market spread like wildfire. Not only have condos gone up all over town, consumers have seen the prices for luxury apartment’s balloon. Prices have gone up and vary from $500 to over $1000 per sq. foot.
Many buyers have been interest in flipping their condos for quick profits. However the last year has shown that the market can be a dangerous place to play. Intense competition for the city’s limited supply of contractors sent construction costs skyrocketing 30% last year and many luxury tower projects that were started did not see their completion dates.
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