There’s so much to explore in ‘The City of Lights’. Las Vegas is the gambling capital of the world (where you can even enjoy games played in Ontario online and is home to some of the world’s best casinos. It’s also famous for great restaurants, entertainment and music experiences and extreme sports, with tourists visiting from all over the world. But did you know that Las Vegas is home to some incredible luxury real estate too and has become a hotspot for investment?

In this article, we explore the luxury estate investment landscape in Las Vegas and see what the future looks like for this market. Read on to find out more.

The Las Vegas Real Estate Market

Beyond the shimmering lights of the Las Vegas strip are some amazing areas to live in Las Vegas, with a diverse range of property types to fit everyone’s lifestyle; from stylish downtown apartments to expensive suburban housing. There’s something for every type of investor!

There are a few good reasons why investing in a luxury estate in Las Vegas has become so popular over the years. The stunning landscape, which consists of quiet areas in the valley and bustling hotspots, means there’s quite a lot of choice depending on what you’re using the property for.

The Las Vegas housing market has shown a healthy trajectory in recent years, with housing prices reflecting a significant appreciation in value. Some of the latest data shows that the price of homes in Las Vegas was up by 6.4% in January 2024 when compared to the year before — with a median price sitting at a not-unimpressive $415K.

The same study revealed that homes were sold at a fast pace, at just 51 days after going on the market. A significant decrease from the 76 days of 2023. And while experts can’t make a complete guarantee, a continued uptrend in the future looks promising.

Need more reasons as to why it’s a great time to invest in Las Vegas luxury property?

Below we dive deeper into some of the reasons why Las Vegas property makes a great choice for investors.

Demand is growing

The glitz and glam that Las Vegas offers has meant that it’s always been a popular place for tourists and residents alike. With nearby locations like San Francisco and Los Angeles becoming more expensive than ever, Las Vegas has become an attractive place to relocate — with demand for residential homes increasing.

For investors, that means now is a great time to maximise profits from rental income or future sales as demand for living in the area grows.

Luxury properties are affordable

For the Southwest region, luxury properties in Las Vegas can be considered affordable, especially in comparison to other metropolis cities like Los Angeles, New York and San Diego.

There are tax advantages

Nevada boasts one of the lowest property tax rates in the United States. Other tax benefits that attract investors include no personal income tax, no corporate income tax and no tax on food for human consumption or medicine.

The best areas to invest in

Interested in getting started on your investment journey in Las Vegas? Here are some of the top areas to explore.

The Strip

Famous for its world-class casinos, luxury resorts and entertainment, the Las Vegas strip draws in millions of visitors a year. This area is perfect for investors looking to purchase property to rent out for both the short and long term.

North Las Vegas

North Las Vegas has become one of the fastest-growing areas and attracts families and young professionals who want a balance of suburban life with easy access to the hustle and bustle of the city.

Downtown

Featuring a blend of history, entertainment and culture, Downtown Las Vegas sees high foot traffic and a strong demand for rental properties.

Green Valley

Perfect for investors looking for a family-friendly environment, there are diverse investment options in Green Valley which include everything from condos and townhouses to single-family homes.

Spring Valley

This vibrant neighbourhood of Spring Valley is the ideal suburban location and primed for investment. Home to many restaurants, coffee shops and shopping areas, it attracts a wide demographic from families to young professionals and more.