Smaller condo units
The property on the Strip is the number one attraction for the condo consumers, followed by the area between the downtown Las Vegas and the South Strip.SoHo lofts, Newport lofts and Sandhurst are the some of the projects in downtown Las Vegas while Loft 5, Boca Raton and Park Avenue are upcoming projects in the South Strip.
The condo-hotel buyers prefer 600 square feet of studio units, while residential condos of 1,100 square feet are preferred. To cut down on the cost of land and construction, the developers are building more units per acre of land that will reduce the square feet of the residential units in the near future.
The downsizing of the units are evident in the las Vegas market, in 90’s the smallest units were 2,150 square feet, but now in some upcoming projects the biggest units available are only 1,824 square feet. In the coming 4 to 5 years residential tower projects will have more scope for growth than the condo-hotel projects.
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