(EMAILWIRE.COM, March 28, 2009 ) Las Vegas, USA - LetÂ’s forget the credit crunch for a second - and where better to do that than in the neon glow of Las Vegas, a mecca of high octane gambling and non stop entertainmentÂ…
The psychedelic city of Las Vegas is an escape from reality, something which the American housing market is crying out for right about now.
You can travel the world in a day, with New York, Monte Carlo, Venice, Egypt and Paris jostling for attention on the famous Las Vegas strip.
You can while away weeks at the slot machines or sipping cocktails in the sun whilst the adventurous among you can visit the Grand Canyon and hike in the Nevada Desert.
For most, Sin City would never be considered as an emigration possibility, but how about an investment proposition?
Away from the glittering casinos and non stop partying, Las Vegas has a lot to offer. With 300 days of sunshine a year and amenities matching those of LA and New York for a fraction of the population; Vegas could be worth considering.
There must be something there - more than 50,000 new residents a year chose to live in the USA and make Las Vegas their home yearly and the population is tipped to exceed two million by 2010.
The overall cost of living is 20 per cent below the national average, and jobs are plentiful, thanks to a pro-business environment in which companies do not pay corporate income, franchise, inventory, or unitary taxes.
Newcomers tend to have an easy time finding property. According to the US Census, every hour, 24 hours a day, 365 days a year, another two acres of Las Vegas land are developed for commercial or residential use.
When house hunting, stay away from the Strip, unless you want to part with big bucks. There is a wide choice of apartments and houses near the campus of the University of Nevada Las Vegas, or in one of the other cities in the greater Las Vegas metro; Henderson, North Las Vegas and Boulder City. The average Las Vegas property will set you back around £180,116.
There are many developments going up in suburban areas – called ‘huburbs,’ which offer a range of housing options, jobs, schools, and shopping.
There is also a booming tourist industry, with more than 40 million visitors sweeping into Vegas each year, but many will want to stay in one of the themed casino hotels, so an investment property may not be able to cash in on those tourists.
For most people, living or investing in this neon wonderland is an escape from reality too far but for true party animals, Sin City could well be worth gambling on.
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