Ultra hot property investment opportunities in the desert
July 14, 2008 by Mark Pollak
While we’ve all been harping on about how amazing Vegas is, we appear to have overlooked a hot property investment opportunity right next door. The desert. That’s right, the cactus filled, dying of dehydration, scorching hot desert. And you thought it was just sand.
The US federal Bureau of Land Management recently lifted a suspension on new applications to build solar power plants on the 258 million acres of desert that it manages, creating a ’solar land rush’ in America. The Nevada desert is now a prime target and land that has long been considered useless is becoming a battle ground for companies wanting to build their solar power plants.
Vultures? What Vultures?
But it’s not just corporates who are targeting the land - private property investors are also vying for space. According to CNN, some are paying over $10,000 (£5,000) an acre for desert dirt which would have cost just $500 (£250) a few years ago. It seems the potential profit to be made from energy efficient solar powered property outweighs the thought of vultures circling your body at the edge of Death Valley.
‘Dubai has done ir’
Maybe I am being a bit extreme - desert property has been shooting up for years - look at Dubai - and the aforementioned Vegas sits happily in the middle of all this land. Investing a few thousand in an acre of land seems like a pretty good deal if you can turn it into viable property, even better if you grabbed it at a fraction of the price years ago.
So, sun drenched property paradise or burning hell hole? You decide.
[tags]real estate,real estate investing,property,property investment[/tags]
The desert place is site for some of the best properties in the world today. Have a look at Dubai which till a decade ago was a complete desert area but today its amongst the fastest growing business centers in the world.