“The Philadelphia real estate market has shown massive steady appreciation over the past few years, and it is ongoing,” indicates Art Scutaro Senior Project Manager from National Realty Investment Advisors. “There are many factors that contribute to the thriving real estate market in the city, which is why we encourage investors to seize upon the limited present opportunities we make available from time to time. One of the core ways to create value in real estate is to look at market drivers. Below are some of the more notable drivers in Philadelphia” says Scutaro:
- Philadelphia is home to a 10-year property tax abatement. This means that people do not have to pay property taxes for up to 10 years.
- Philadelphia is home to numerous prestigious colleges and universities. This includes Drexel University, Temple University, La Salle University, Hanneman Teaching Hospital, Drexel Medical School, Temple Hospital, and the University of Pennsylvania.
- Center City Philadelphia is a resilient realty market. The year-over-year appreciation in small home prices is 3 to 4 percent.
- Philadelphia features one of the lowest existing vacancy rates on rented properties in the entire country, which is less than 4 percent on Town Homes.
- There is a massive price differential between Pennsylvania homes and the neighboring cities of Washington, D.C. and New York City. Plenty of residents from these two metropolises are consistently migrating to the Philadelphia area because they see that they can get the same living arrangements for significantly cheaper prices.
- People who still want to enjoy the life of Washington, D.C. and New York City can take the High Speed Amtrak Acella Train from Philadelphia. The luxury ride to NYC or D.C. takes roughly an hour and costs much less than the property taxes and monthly fees to live in those cities.
- The mega demographic trend of “gentrification” of older poorer citizens leaving the Cities to move in with family and up and coming young professionals as well as monies “empty nesters” returning from the suburbs is well entrenched worldwide. There are countless top qualities of rental homes and sometimes an up and coming neighborhood is one of them. This mega demographic movement means the better Cities will have lots renters and buyer occupants for years and years to come creating appreciating rents and values for owner investor landlords.NRIA
“The Philadelphia real estate market has shown massive steady appreciation over the past few years, and it is ongoing,” indicates Art Scutaro Senior Project Manager from National Realty Investment Advisors. “There are many factors that contribute to the thriving real estate market in the city, which is why we encourage investors to seize upon the limited present opportunities we make available from time to time. One of the core ways to create value in real estate is to look at market drivers. Below are some of the more notable drivers in Philadelphia” says Scutaro:
- Philadelphia is home to a 10-year property tax abatement. This means that people do not have to pay property taxes for up to 10 years.
- Philadelphia is home to numerous prestigious colleges and universities. This includes Drexel University, Temple University, La Salle University, Hanneman Teaching Hospital, Drexel Medical School, Temple Hospital, and the University of Pennsylvania.
- Center City Philadelphia is a resilient realty market. The year-over-year appreciation in small home prices is 3 to 4 percent.
- Philadelphia features one of the lowest existing vacancy rates on rented properties in the entire country, which is less than 4 percent on Town Homes.
- There is a massive price differential between Pennsylvania homes and the neighboring cities of Washington, D.C. and New York City. Plenty of residents from these two metropolises are consistently migrating to the Philadelphia area because they see that they can get the same living arrangements for significantly cheaper prices.
- People who still want to enjoy the life of Washington, D.C. and New York City can take the High Speed Amtrak Acella Train from Philadelphia. The luxury ride to NYC or D.C. takes roughly an hour and costs much less than the property taxes and monthly fees to live in those cities.
- The mega demographic trend of “gentrification” of older poorer citizens leaving the Cities to move in with family and up and coming young professionals as well as monies “empty nesters” returning from the suburbs is well entrenched worldwide. There are countless top qualities of rental homes and sometimes an up and coming neighborhood is one of them. This mega demographic movement means the better Cities will have lots renters and buyer occupants for years and years to come creating appreciating rents and values for owner investor landlords.NRIA