If there’s one city that best encapsulates the term, “luxury living”, it’s Las Vegas.
A thriving metropolis located within the greater Mojave Desert, Las Vegas is considered by many to be the world’s Entertainment Capital. It attracts millions of visitors each year and is called home by more than 660,000 residents.
Living close to The Strip is not the only factor behind people’s decision to buy properties in Las Vegas. While it does have a powerful impact on one’s decision-making, there is so much more to Las Vegas than neon lights and dazzling displays of extravagance and excitement. This world-renowned Nevada city is a wonderful place to reside in, especially if you’re someone who’s ready to live large in this sparkling gem in the Mojave.
Table of Content
What’s inside:
- Las Vegas: A brief history
- Luxury real estate in Las Vegas
- The state of the market
- Where to find luxury real estate in Las Vegas
- The Las Vegas lifestyle
- Before moving in
- The dry heat in Las Vegas is tolerable
- Las Vegas’ economy doesn’t stop growing
- Tax breaks!
- You have celebrities for neighbors
- Living large in Las Vegas
- Things to do
- Luxury restaurants
- Famous parks and landmarks
- Upscale shopping
- Outdoor and indoor activities
- Invest in luxury real estate in Las Vegas now
Las Vegas: A brief history
In its early stages, Las Vegas was only a dusty desert railroad service center in the middle of the Mojave.
Through the decades, however, Las Vegas would metamorphose into today’s cosmopolitan city and playground of the rich and famous. This timeline reveals its transformation:
- 1829: Spanish explorer and merchant Antonio Armijo discovers an oasis in the middle of the Mojave Desert as he and his caravan were passing through on their way to California. They named it “Las Vegas” in reference to spring-fed grasses growing in abundance in the area.
- 1865: Drawn here by the promise of gold, prospector and businessman Octavius Gass lays claim on the land and calls it the Las Vegas Rancho. This property would continuously change hands until its acquisition by the Union Pacific Railroad in 1905.
- 1905: Las Vegas is founded as a city and becomes known as a railroad town.
- 1931: Construction starts on the Hoover Dam. The project draws thousands of new workers to Las Vegas, resulting in the city’s first population spike. With the increase in population came the opening of businesses in the area. Not only does this bring in the first vestiges of modern-day commerce to Las Vegas but the inns and bars here become the progenitors of the gaming and hospitality industries that we know today.
- 1960: The city went on high gear in developing resort and entertainment facilities, some of which remain in operation to this day.
- 1966: Reclusive millionaire and industrialist Howard Hughes moves to Las Vegas, spurring the creation of the luxury real estate market with his purchase of the 25,000-acre tract of land now known as Summerlin.
- 1989: Fueled by Wall Street investments, Las Vegas enters its mega-resort era. Luxury resorts such as The Mirage are built on The Strip and adjacent areas.
- 2010s: City authorities start a campaign to revitalize its historic downtown, leading to the creation of the Fremont East Entertainment District.
Luxury real estate in Las Vegas
Luxury real estate in Las Vegas never goes unnoticed, especially among those who can afford the exciting high-rolling and upscale lifestyle that only Sin City can provide. That’s why it’s of no surprise that the market for these types of properties is being described as “scorching hot.”
State of the market
Industry observers and experts note that at the rate the luxury real estate market is going in Las Vegas, one has to be quick and decisive in their desire to buy a single-family home because the opportunity of finding one is becoming rare. And if you do find the perfect luxury home to invest in, the possibility of being embroiled in a bidding war is high.
There are three alternatives you can consider to ensure that you score a luxury property here:
- Option 1: High-rises are rising luxury real estate stars. These property types were avoided when the pandemic first hit but now, buyer attention is returning anew to these luxury condominiums with spectacular views as there are more options and they offer more leeway for negotiation. However, as the government’s response to the pandemic becomes more streamlined, even these property types are quickly becoming scarce.
- Option 2: Consider vintage mansions in older neighborhoods. While most buyers are eyeing move-in-ready luxury homes with the latest in smart technology and other modern features, the window of opportunity to snap up one of these types is shrinking. The beauty of considering classic Tuscan-style estates in older neighborhoods is that there are more of them and they offer even larger spaces compared to the newer contemporary-style homes. Moreover, they are more friendly on the pocket. In fact, many new homeowners of these vintage homes make use of the saved funds to do renovations instead.
- Option 3: Seek the assistance and guidance of an expert Realtor. A Realtor with expertise and experience in doing transactions of Las Vegas luxury real estate can be your best bet in achieving success in your luxury home-buying endeavor. They have an established network of contacts in the industry with ears to the ground on properties that are due to hit the market so you can have first dibs in making your offer. And when the bidding starts, you can be assured that your agent will be fully capable of representing you and your interests as they face the home seller to negotiate.
Where to find luxury real estate in Las Vegas
Some of the prime luxury real estate in Las Vegas can be found in the following neighborhoods:
Considered an elite enclave, this neighborhood is part of a master-planned community composed of several dozen private villages. It boasts a wide variety of recreational amenities like trails, playgrounds, swimming pools, sports facilities, and even motorized toy areas. Parks here have community centers that offer special events, classes, and children’s camps.
Sheep Mountain
This highly sought-after neighborhood is located in the northern part of Las Vegas. Another locale of high-end properties like upscale condos and resort-style houses, Sheep Mountain is popular for its very laid-back atmosphere, making it especially attractive to those who wish to live away from the hustle and bustle of the city.
Much like Summerlin North, Centennial Hills is a master-planned community located in northwestern Las Vegas. This neighborhood has a diverse inventory of available residential units to choose from. These include condominium units, luxury apartments, townhomes, traditional single-family homes, and ranch-style properties.
The Lakes
Still another master-planned community, The Lakes is located in the western part of the Las Vegas Valley near the Spring Mountains and Red Rock Canyon National Conservation Area. Its main feature is the man-made lake that gives residents opportunities to engage in water-based recreational activities. The range of residential property types here includes large single-family homes and condominiums.
Buffalo
To the east of The Lakes and bordered on the north by West Charleston Boulevard is Buffalo. This is a community that gives its residents immediate access to modern conveniences from food spots to schools. Its proximity to The Strip gives it its distinctive edge over other Las Vegas communities.
The Strip
Why go far from where all the action is when you can live in one of the top-ranked exclusive luxury properties in and around The Strip? Purchase a unit in luxury high-rises like the Waldorf Astoria Las Vegas, One Las Vegas, Allure Condos, and Sky Las Vegas and enjoy first-class amenities that truly define the good life here. Residents only need to go down to immediately enjoy all that The Strip can offer. Moreover, they’ll have amazing views of some of Las Vegas’ most iconic sights, from the natural beauty of the desert scene to awe-inspiring man-made structures such as the Fountains of Bellagio from several meters above street level.
The Las Vegas lifestyle
Before moving in
Here are some things about Las Vegas that you should know before moving in:
The dry heat in Las Vegas is tolerable
As Las Vegas is still part of the Mojave Desert, the climate here is very much expected to be hot. In its subtropical desert climate, the city experiences average temperatures of 95 °F during daytime and 80 °F at night. Summer months are long and hot while winters are pleasantly mild.
Residents agree, though, that the dry heat they experience here is quite tolerable as compared to the humid climate of other states. It could get chilly in the evenings but overall, the desert setting of Las Vegas shouldn’t discourage anyone from buying luxury real estate here and taking advantage of what the city has to offer.
Moreover, every home in Las Vegas is fitted with HVAC systems to counter the desert climate.
Las Vegas’ economy doesn’t stop growing
While it did take a significant hit in the wake of the COVID-19 pandemic, Las Vegas’ gaming industry still managed to net $6.75 billion in revenue for 2020 — a clear testament to its resilience and stability.
While its economy still largely rests on its tourism and entertainment industries, Las Vegas has opened itself up to other businesses related to medicine and information technology — a gamble that is starting to pay off handsomely.
Moreover, the pandemic isn’t stopping Las Vegas from growing. A number of ambitious projects are in the pipeline from the earlier-mentioned Fremont East Entertainment District to other new residential and commercial construction projects.
Tax breaks!
Part of the reason why people come in droves to Las Vegas is because of tax breaks that give its residents more take-home pay and added muscle to their purchasing power.
For one, Las Vegas does not collect income taxes from its residents. It even offers incentives to successful homebuyers like deductions in property and real estate taxes.
The city also doesn’t collect taxes on both corporate income and corporate shares, making Las Vegas one of the best cities to start a business in.
You have celebrities for neighbors
Invite Celine Dion for karaoke. The pop superstar first invested in luxury real estate in Las Vegas during the start of her residency at Caesars Palace in the early 2000s and has lived in the city ever since.
Talk music and guitars with Carlos Santana. The Grammy-winning Mexican-American guitarist and his wife live in a 7,785-square-foot five-bedroom home in The Ridges.
Other celebrities who own luxury properties in Las Vegas include master illusionist Criss Angel, tennis superstars Andre Agassi and Steffi Graf, and boxing champion Floyd Mayweather Jr.
Living large in Vegas
This is what the Las Vegas lifestyle is all about:
Things to do
It’s a given to experience the gaming, entertainment, and recreation venues found primarily on The Strip but there’s still more that Las Vegas can offer:
- See some of Las Vegas’ most iconic signages and lights from decades past in the Neon Museum. This establishment buys, stores, and refurbishes the historic neon signs from the city and provides guided tours.
- Take your special someone on a gondola ride at
The Venetian Resort. Less than a mile away from The Strip, this lovely hotel and casino has a man-made grand canal that replicates the famous canals of Venice. The fully operational gondolas with their respective singing gondoliers navigating the canal complete the romantic package. - Play a round of golf in Angel Park. This Summerlin attraction is among the longest-standing golf clubs in Las Vegas, having been around for more than 30 years. If you’re feeling extra, you can even arrange to get married here.
Luxury restaurants
Residents are never too far away from their next great dining experience in Las Vegas. Some fine dining establishments here include:
- Mizumi. Check out its immaculate sushi and sashimi offerings.
- Bardot Brasserie. Come here if you want a modern take on classic French cuisine.
- Barry’s Downtown Prime. This is the place to go for a taste of the best steaks in this side of Nevada.
Famous parks and landmarks
Las Vegas prides itself in the sheer number of historic places and cultural landmarks within its borders. Here are some notable venues:
- The Springs Preserve is a 180-acre cultural and historic attraction built on the site where Antonio Armijo and his caravan first landed in their search for water while en route to California. It offers state-of-the-art exhibits, galleries, hiking trails, and botanical gardens – all of which provide a glimpse into the city’s rich heritage.
- You heard the stories about Las Vegas’ mobster past. Now, you can see relics from that period in the El Cortez Hotel and Casino which, at one point, was owned by infamous mob boss Bugsy Siegel.
- For an even more immersive mob history experience, visit The Mob Museum. Its basement is the most apt space for its fully operational speakeasy and Prohibition Era distillery.
Upscale shopping
Some of the city’s most notable shops can be found in Bellagio Las Vegas. Various designer labels like Alexander McQueen, Chanel, and Louis Vuitton have store outlets here, as well as chic specialty stores like SJP by Sarah Jessica Parker. Always schedule an appointment before visiting to experience VIP treatment here.
Retail therapy can also be done with style in the Shops at Crystals – an upscale luxury shopping center in Las Vegas. This establishment houses some of the world’s high-profile fashion outlets such as classic favorites Gucci, Fendi, and Hermes, as well as contemporary luxury brands like Alice & Olivia, Christian Louboutin, and Golden Goose.
Outdoor and indoor activities
Every day is an exciting day in Las Vegas with the many unique activities you can try here:
- Red Rock Canyon is a popular spot among bikers and hikers located just 15 miles from Las Vegas. If you’re bringing a vehicle here, make sure to apply for a Timed Reservation.
- Conquer your fear of heights at the STRAT Hotel, Casino, and Skypod. Anywhere in Las Vegas, you’ll see its tower jutting high above any other structure. If you’re looking for aerial views of the city, go to the top of the Skypod to see the skyline from 350 meters up in their observation deck. But if you’re here for the thrills, catch any of their extreme rides found on the edges of the Skypod.
- Why go to the more expensive ski resorts of Utah and Colorado when Las Vegas has its very own Lee Canyon Ski Resort which is only around an hour’s drive from The Strip? Not only does going here make for an interesting desert trip but the experience completes the entire Las Vegas adventure – from rolling the dice at your favorite casino to skiing on snow-covered slopes in the middle of a desert.
Invest in luxury real estate in Las Vegas now
There’s no time to waste if you want to make your own bid on luxury real estate in Las Vegas. To do this, you will need the insights and expertise of someone with the passion to make things happen to achieve your real estate goals in Sin City.
Allow me, Las Vegas luxury real estate expert Juan Rubio, to be that person.
My team and I are ready to go above and beyond to help you in securing that dream Las Vegas luxury property you’ve always wanted. Trust in our sharp negotiation skills, as well as our knowledge of the market itself, to ensure home-buying success in this high-intensity market.
My background as an aggressive negotiator has served my clientele well as they have enjoyed hefty profits due to my skills at the negotiating table. This is why I earned the moniker, “The Wolf of Real Estate” – it’s a distinction that has earned me respect among the movers and shakers of our industry, as well as trust from those who let me walk alongside them in their home-buying or selling endeavors.
My wide network of industry colleagues and affiliates is the secret sauce behind my ability to find off-market properties for my clients. Listed or unlisted, you will gain the edge in making a bid on these properties and have the perennial foot in the door before anyone else can do so.
Ready to live large in Las Vegas? Give me a call at 702.913.3044 or send me a message at juan(at)luxeluxe(dotted)com. Let’s make your dream luxury estate in Sin City a reality!