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According to reports, high-rise condos in Las Vegas have become a popular point of interest for international investors.
Public records from Clark County, Nevada, show that 10 percent of Las Vegas real estate transactions conducted in the southern portion of the state involve non-citizen buyers. One Realtor explained that Canadians make up the majority of the international market, followed by Asian investors. The continued strength of the Canadian dollar has led many natives to the region, seeking a second home for when the weather turns cold.
A recent report from Fortune Magazine revealed foreign buyers purchased 30 percent of high-rise luxury units in the new MGM City Center in Las Vegas.
Realtors believe international buyers are interested in the region in order for them to get a "taste of the Las Vegas lifestyle" in preparation for retirement.
Overall, Las Vegas features more than 25 high-rise and mid-rise condo buildings with units for sale. Furthermore, the continued low interest rates for mortgages may serve as another driving force for international investors looking to take advantage of the market.
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