Words: Ashley Rigg
Published: 7th September 2009
Las Vegas: Condo buyers lose big
Business Week journalist Chris Palmeri reports that developers and buyers are losing huge sums of money in the condo/hotel market in Las Vegas.
Resale prices in MGM’s Signature Towers are down 70% and there are several developments where you can pick up units for $200,000 that formerly sold for $600,000.
The Trump International Hotel is bucking the trend with price reductions averaging only 18%. However, this is because the developer still owns the units and is not willing to take a huge hit says Palmeri.
Full story on
Business Week
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