The Next Wave
Recently, there was a buzz in the media about the resurgence of the high-rise condo market in Vegas. This is the most active the market has been since the early days of the MGM Mirage CityCenter project. That was back in the 2008 era before the crash. Today on LUXE BLOG, I’m discussing this trend. As you know, I’ve been talking a lot about Four Seasons Private Residences, as well as the condominiums for sale at Cello Tower at Symphony Park. I love this type of living. Why? For many reasons. However, one of my biggest reasons is because our “ocean views” are made of neon. And comes alive at night!
The High-Rise Market Reawakens
The high-rise condo market in Vegas is buzzing with activity again. The market hasn’t seen this level of interest since the CityCenter project days. Developers are racing to deliver new luxury condos across multiple developments, marking the most significant construction boom since the 2007-09 recession.
- Luxury condo inventory down 40% since 2016
- Average condo resale price rose by 32%
- New developments in high demand
- Projects set to be completed by 2026
- High-net-worth individuals driving demand
Buyers are flocking to these luxury condos for various reasons. Some seek the convenience of living closer to the action on the Strip. Others are drawn to the tax benefits and the appeal of a low-maintenance lifestyle. This renewed interest has led to a shortage of available units, pushing developers to accelerate their projects.
Cello Tower Is A 32-Story Condo Tower Planned For Downtown Las Vegas
The Allure Of Vegas High-Rise Living
Living in a high-rise condo in Vegas offers a unique lifestyle. Unlike cities like Miami, where ocean views are a daytime luxury, Vegas offers a dazzling neon skyline that comes alive at night. It’s a fun, vibrant place to live, especially in a luxury high-rise condo.
- Proximity to The Strip and downtown
- Low-maintenance lifestyle
- Concierge services
- Stunning city views
- Access to amenities
The appeal of high-rise living is undeniable. Residents enjoy the convenience of concierge services, easy access to entertainment, and breathtaking views. This lifestyle shift is attracting both locals and out-of-state buyers, leading to a significant uptick in the market.
Popular Existing High-Rise Condo Projects
- One Queensridge Place
- Panorama Towers
- Turnberry Place
- Turnberry Towers
- Sky Las Vegas
- Allure
- Signature at MGM Grand
- Waldorf Astoria
- Soho Lofts
- Veer Towers
- Newport Lofts
- Palms Place
- One
- Park Towers
- The Martin
- The Ogden
- Trump Tower
- Vdara
Waldorf Astoria, Aria (Hotel), Veer Towers, And The Cosmopolitan
Current & Future Developments
Developers plan to introduce hundreds of new luxury condos. This will massively increase the available units, doubling what we saw at the end of 2023. Four of these exciting projects will mix high-rise and low-rise buildings, offering around 700 upscale units in total. About 460 of these units are slated to be completed by 2026.
But that’s not all. Summerlin, traditionally a single-family home community in western Las Vegas, is getting a major upgrade. Two new luxury high-rise projects are planned for downtown Summerlin. These projects are still in the planning stages, but they definitely have me excited. This construction resurgence is poised to reshape the Vegas skyline. From panoramic views to state-of-the-art amenities, these developments promise to elevate the standard of high-rise living.
Looking To Buy A Condo?
If you’re considering buying a luxury condo in Vegas, now is an excellent time to learn the market. It is vibrant! And unlike other cities? Vegas combines the thrill of the nightlife with the convenience of condo living.
- Tax benefits attract buyers
- Low-maintenance lifestyle
- Proximity to entertainment
- Vibrant community life
- Stunning nighttime views
Living in a Vegas high-rise condo is a lifestyle choice. The city’s mix of entertainment and luxury appeals to a global audience. Like I said earlier, unlike cities such as Miami, where you have an ocean view during the day – Vegas‘ “neon ocean” comes alive at night. It’s a fun place to live. Especially when you own a high-rise condo. Vegas can transform your life, and I’m here to help you achieve that. I’m Lynn Stringer, a 35+ year real estate broker. I look forward to helping you experience Sin City. Vertical style.
Also Read: Cello Tower Sales Update: 39 Units Sold, Groundbreaking In Fall