The housing market in Philadelphia continues to perform well for investors, despite the low phase most US cities are going through. A Zillow report tells that in past one year there has been a growth of 9% in the house prices in Philadelphia. But unlike other housing markets, the reason behind this growth isn’t the misbalance between supply and demand, but the on-going infrastructure development and improving standards of living.
A recent article on Business Journal also states how selling a house in Northern Liberties neighborhood at $700,000 was a rare thing two years ago, but not anymore. Today, there are numerous properties that are being sold at a price of over a million in the area. While Northern Liberties neighborhood certainly has a considerable house price growth, other parts of the city don’t have a very different tale to tell. All this in turn is leading to one thing – more investments in Philadelphia realty market
Interestingly, the Business Journal article featured NRIA’s ongoing project (Ortlieb’s Square at 838-52 N. American St.) as its featured image. The average selling price of Ortlieb’s Square house units is $756,000, which in turn will provide investors an average built-in equity profit of $191,536.
While selling an investment property certainly brings lucrative equity return in Philadelphia (as mentioned above), their rental benefits aren’t any less alluring. A recent RealtyTrac report says that rental return rate in Philadelphia has also increased considerably in past few years. In 2011, it was 14% while now in 2015 it is 18%.This in turn puts Philadelphia, among the 10 highest rental return markets in the US.
Part credits for growing rental return rates also go to Philadelphia’s law of no property tax on new constructions for 10 years, since most of the rental properties in the city are newly constructed.
While investing in rental properties in Philadelphia is already beneficial, partnering with National Realty Investment Advisors, LLC adds additional advantages to it. In contrast to the annual rental return of 18%, NRIA offers its clients an unheard 30-60% annual return on their money left in the project. Additionally, NRIA offers its clients a 5-year rent guarantee on each of their investments with professional property management services. So, if you are in mood of investing in Philadelphia real estate market don’t forget to check out NRIA’s highly profitable investment plan first.