Comments on: 5 Bullet Proof Property Markets

By: Shari Sanderson

Shari Sanderson — Sat, 08 Mar 2008 19:48:12 +0000

The luxury market has not been pummeled by the subprime crisis in Las Vegas. Recently two high-rise residences sold at the Harmon in MGM Mirage CityCenter over $2,000 a foot. Phil Ruffin purchased a 9,000sf Tuscan estate in Red Rock Country Club for $5.7m. Lo Van Gemert, President of Nextel South America purchased a 12,500sf golf estate for $9m. Additional closings: The Ridges $8.9m; Red Rock Country Club $4.7m; Spanish Hills $5m. Las Vegas resident Jerry Herbst just recently purchased a second home in Newport Beach for $35m.

By: Ashley

Ashley — Sat, 08 Mar 2008 15:43:06 +0000

I don’t agree that there are any bullet proof property markets. Markets by their nature have to rise and fall in order to be sustainable. Just today I was reading Curbed, and comments there alluded to the continued assurances of ‘no credit crunch fallout here’ which started at city level and is now down to block level.. Maybe at the prime level it takes longer but in London, where out city high fliers haven’t got their bonuses the market is not as stable as we are led to believ

By: Eric S Doms

Eric S Doms — Mon, 03 Mar 2008 12:22:43 +0000

I agree with the first 4 property markets, but Dubai is definitely not up there.

There are still way to many uncertainties in that market and things might still go South.

I’d give it more time in order to gauge the situation better.