Thursday, 7 May 2015

More Reasons to Why Philly Is a Top Choice for Real Estate Investment

Most often the law of no property tax for first 10 years on new constructions is borrowed to demonstrate the benefits of investing in Philadelphia realty market. No doubt, it is a source of huge relief for property owners making mortgage payments. However, there is more to Philly’s real estate market than just that. Boom in housing market, revitalization of public spaces, luxurification of popular neighborhoods, all are indicating towards highly profitable prospects of investing in Philadelphia real estate market.

This post will outline various facts and figures as reasons to why Philadelphia is considered as one of the best real estate investment destinations in the United States.

Renovation of the City
The whole city is undergoing some changes and the Central City is undeniably ahead in the race. In some areas, entire neighborhoods are being transformed. New hotels, business towers, housing complexes, and the much in talk development of the Navy Yard are taking Philly to a transformation of so grand a level that it hasn’t seen since the construction One Liberty Tower back in late 1980s.

Also read this detailed post about the booming trends in the City of Brotherly Love.

A Top Rental Return Market

A recent report by RealtyTrac on rental housing market features Philadelphia among the 10 highest rental return markets in the United States.

 Will the development going on throughout the city and continuous influx of young to mature professionals, it is hardly a surprise that Philly made it to the list. Interested readers can check out the other 9 cities with highest rental returns and other major highlights of the report here. 

Household Income in 6 Figures
All things come together to meet at one point. Development throughout the city in public places, business & industrial spheres, and housing market, all have made life of Philadelphians more prosperous. A recent analysis of census data by Lauren Gilchrist, director of research at Jones Lang La-Salle, Philadelphia indicates that average household income in the Central City area has crossed the 6 figures bar. According to the report, the average household income for Central City is $107,000. In some popular neighborhoods like Society Hill it is as high as $150,000.
In past few years, US realty market has gone through some dramatic fluctuations. In spite of that, Philly’s realty market has remained considerably stable. And the good news is that latest Health of Housing Market (HoHM) report by Nationwide Economics suggests that US housing market is most promising since 2001. Follow this link to read the complete report.

All in all, this adds up another reason to make your real estate investment in Philadelphia.

To leverage the sheer benefits of investing in Philadelphia realty market in the best manner, you can partner with leading investment advisory firm National Realty Investment Advisor, LLC and get assured high equity return and long term rental benefits. Visit their website to learn more about NRIA’s real estate development services .

Also, don’t forget to share your thoughts on this post.

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