Celebrity Sells
Celebrity residents have brought with them a new status symbol to the high-rise condos in the Strip. Speculators in the real estate market and the buyers from California and Asia are the greatest force behind the condo boom in Las Vegas.There are about 8,000 condominium projects that are in construction stage or will be started soon. With so many projects on the ground, the developers in order make their project stand out from other projects are using the celebrity status of the Hollywood stars. Many of the Hollywood stars have purchased units in Las Vegas.
Palms place, a 50-story high-rise planned at the Palms Hotel and Casino has a unit booked by celebrity Jessica Simpson, units in the Panorama Towers has been bought by Leonardo Dicaprio and Tobey Maguire, Reggie Jackson a Baseball player has a unit in the Icon Las Vegas. This marketing strategy has worked wonders for the developers, as people want to live near celebrities especially the investors from abroad.
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