“Instead of sellers having the advantage, buyers are now in a better position,” Las Vegas Realtors President Lee Barrett said.
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Ten years ago, Genting Group bought the Resorts World Las Vegas site at a bargain price.
The casino operator’s logo is now at the top of a new 10-story suburban office building just south of Las Vegas Ballpark.
Some signs of an uptick follow a year in which homebuyers, locally and nationally, pulled back amid a sharp rise in mortgage rates.
Dreamscape Companies recently announced that it raised $850 million in capital and is launching a real estate investment trust.
Vici Properties, the biggest property owner on the Strip, generated $2.6 billion of revenue last year, up 72 percent from 2021.
Buildings and other structures that comprised the property are gone after Station Casinos said last summer it would demolish the property.
Nationwide, the pace of resales “waned” for the 12th consecutive month in January.
Dreamscape Companies raised $850 million and will use some of the funds to bankroll a “multi-phase renovation” of the Rio.
Some casino operators touted the benefits of owning their properties or stated they aren’t looking to sell them and rent them back.
Joe DeSimone held a ceremonial groundbreaking Tuesday for a six-story, Atwell Suites-branded hotel in the parking lot of The Pass.
It features wall-mounted lanterns and planter boxes, a fountain, and “storefront” windows for eateries named after the owners’ kids.
The average monthly rent for a Southern Nevada apartment was down 1 percent from 2021, following a 22 pecent increase that year.
Las Vegas has some of the world’s biggest hotels, and resort operators and other businesses regularly roll out new ways to capture tourists’ attention and dollars.
Work crews are scheduled to break ground this month on a 324-unit rental project several miles south of the Strip.
A tribal nation that acquired most of the Route 91 site is buying the former White Sands Motel for more than $10 million.
After a sharp slowdown in 2022, Southern Nevada’s housing market started the new year still trekking down the same path.
A bill would raise the tax slapped on sales of homes, warehouses and other real estate in Nevada.
United Rentals laid off 119 people in Las Vegas, effective Jan. 6, according to the Nevada Department of Employment, Training and Rehabilitation.
Las Vegas homebuilders ended 2022 with sharp drops in sales and construction plans from year-earlier levels, capping a dramatic change for the once-heated market.
A top executive with Vici Properties this week reiterated its stance that the Strip is the world’s premiere cash machine.
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