Like Beach Front Property?

In Nevada, by the strip in Las Vegas, the prices of Condominiums are beginning to sky rocket because areas around Las Vegas are starting to urbanize even more. They are expanding upward. A 700 square foot Condo can be now bought in Vegas for around $1.2 million. They are comparing this boom to ocean front property and the market is rapidly increasing. I am wondering, is having a home that close to Vegas worth the same price as a house on the beach. IN my opinion, no, it isn't. After reading the article, let me know what you think.