While U.S. real estate market is expected to grow at a steady pace in 2014, Philadelphia is writing its own real estate story. The largest city in the Commonwealth of Pennsylvania is becoming the hotspot of real estate investment for so many reasons.
National Realty Investment Advisors, LLC is here to share the real estate secret of Philly. Read on to learn why Philadelphia is becoming investors’ favorite for investment in residential and commercial real estate;
No property tax for 10 years
Philly is the only city in the USA with no property tax on new construction building for 10 years by law. The city offers 10 year tax abatement for new construction and rehabilitated housing. This has given real estate firms an incentive to undertake construction of residential and commercial properties.
Booming local economy
Over the past decade, Philadelphia has witnessed an economy boom that includes development of 7 major universities with graduate schools, medical schools, dental schools and nursing schools attached to them. Major pharmaceutical companies and law firms have also set their base in the city. These developments have given major boost to local housing market.
Good connectivity and fine living
Philadelphia is one of the most “walkable” cities in the U.S.A. Low living costs and ease of commuting is also making Philadelphia the first choice of young working professionals. Job creation in the neighboring regions is also pushing the property demand in the region.
Real estate firms like National Realty Investment Advisors, LLC are meeting the market demand of quality housing with its real estate investment plan. Since 2006, the firm is building and managing top quality rental properties for its high net worth clients.
NRIA’s real estate investment plan
Under its investment approach, NRIA promises high rents, no property tax for 10 years, and professional management. By building the rental property on undervalued land and bringing down the overall project cost drastically, the firm generates safe and secure investment return on a small cash-in of $11,900.
NRIA clients never have to bother about rent collection and property maintenance as well. The firm manages the pre-rented townhomes with its licensed professionals without any additional cost. Call 201-210-2727 to become part of Philadelphia’s real estate growth story.