Las Vegas: named by the Spanish Mexican explorers of around 1829 as “The Meadows” (Vegas being Spanish for meadow) because of the numerous artesian wells they found in this part of what is now Nevada; is primarily a tourist city and the main tourist attraction is the gambling hotel casinos and the associated entertainment. Without going into pricing details; the package deals available at the hotels and resorts would make even the most avid of gamblers lose interest in checking out the Condos For Sale In Las Vegas Strip as an alternate place to stay while visiting the strip.
The total Vegas area is trying to promote retirement living and bring in employment opportunities not directly relating to tourism; but, the people that these moves may attract are probably not those who would want to live on the Strip right alongside all the “action”. Entertainers with long term bookings at any of the resorts and hotels will probably be more than happy with the accommodations offered under their contracts and are hardly likely to want to buy a place to live in for the duration of their Vegas engagement.
Those Employed By The Tourism Industry
However, that does leave a large amount of people (many with families) that are employed on the more service orientated side of the casino, etc’s operations. These people will need somewhere to live and, since their jobs are often based on shift work (so the hotel can operate 24/7); they will probably be reluctant to have their homes too far away from their work; thus, they could well be interested in Condos For Sale In Las Vegas Strip since living right on the strip is going to be the most convenient for them getting to and returning from work at, often, odd hours of the day or night.
Investors often buy condominiums to sub-let them as a source of income from the rentals; either long term or through short term, vacation type leases. However, investors will have to satisfy themselves as to the numbers and financial status of those who would actually want to reside full time on the Vegas Strip; rather than taking up long term bookings at any of the many hotels and resorts.
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