Have you ever wondered how your own piece of the Las Vegas Real Estate pie compares to similar properties in other parts of the Las Vegas Valley? Better yet, have you found yourself wondering how Las Vegas Real Estate compares nationally to other cities of similar size? While much has been made of the fact that the Las Vegas market is among the hottest here in the States, how do we look from a global perspective? The question carries more weight than mere curiosity.
At MS Las Vegas Real Estate, we speak to clients based in Europe and the Pacific Rim on a regular basis. It seems that overseas investors are interested in American diversification for their portfolios in ways that extend well beyond stocks and bonds. Based on residential appreciation rates for Las Vegas Real Estate over the last five years, it's no wonder that global investors take time to investigate our market in particular when examining their U.S. investment options. The question is, when examined from a global perspective, how do we look?
The first key to understanding the true significance of the residential property market in the Western World is to look at it's size and velocity. The total value of residential property in the First World is approximately 60 trillion dollars. The amazing part of this story is the fact that almost 20 trillion of that value has been added in the last 5 years. This is almost twice the rate at which global equities have increased over a similar time frame. But who's hot and who's not when you look at the world map?
Believe it or not, the hottest thing going right now is the market in South Africa followed closely by real estate stalwart Hong Kong. Australia has been on a tear for the last couple of years but has recently cooled down significantly. Ditto for Great Britain, where a multi year run-up has recently stalled out.
The volume of sales in the UK has dropped dramatically in the latest quarter and prices are actually starting to fall back a bit. By contrast, France and Sweden are still strong and on the upswing. Joining that group is the United States, where the average price of a home nationwide gained 13% this year. California and Washington D.C. have made above average gains (approx.
20%), but pale in comparison to the residential market for Las Vegas Real Estate. It's no wonder that we speak to so many overseas investors at MS Las Vegas Real Estate. If the goal is diversification into U.S.
residential property, Las Vegas is not a market to be overlooked. Our firm stands ready to deliver a level of service and local expertise to satisfy the most demanding global investor.
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