Categorized | Residential

Asian Investors Flock to Las Vegas Housing Market

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With residential real estate prices continuing to decline in Las Vegas, many Asian investors are taking advantage of the situation. The Las Vegas housing market has attracted many Asian buyers, who are purchasing an abundance of foreclosures and short sales. The vast number of foreclosures has allowed these buyers to purchase each property below cost.

The majority of the investors are buying homes at a price that is more than seventy-five percent less than what they would have sold for during the peak. Although the majority of investors have never even seen the properties purchased, Asian investors are relying on local property managers to renovate the purchased properties for rental purposes.

The strong rental market in Las Vegas has made the city a popular choice among Asian investors. Because homes are being rented quickly in Las Vegas, buyers are able to generate a consistent monthly income with little upfront investment. It is that essential guarantee of revenue that has made the Las Vegas market become increasingly attractive.

With Asian investors helping to boost the residential real estate market in the city, many real estate agencies and government officials are now looking to international waters around the world for homebuyers. The agencies and officials are considering different ways to advertise in the international markets, as they believe they are key to recovery in the property market.

Realtors and government officials have seen what international investors have done to boost the Miami housing market, and are looking to duplicate the success. With a vast amount of foreclosures hitting the market in the next few months, they know that there is no better time for international investors to enter the market than now.

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About Ella Jourgeson

Ella was recently an intern who checked all the articles for grammatical and spelling errors. She is now an all purpose writer filling in wherever we need help.

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