Philadelphia’s Unique Investment Opportunities

National Realty Investment Advisors can credit its promising client returns to professional expertise, but Philadelphia’s optimal real estate environment deserves some recognition as well. There are a number of factors that make Philly particularly lucrative for property investment dollars.

Philadelphia’s 10-year tax abatement program has expanded opportunities for new construction and rehabilitationin the City of Brotherly Love. The act frees investors from tax hurdles that might keep them from investing in much-needed city revitalization efforts.

According to the City’s Office of Property Assessment, the abatement program is intended to “revitalize communities, retain residents, attract home- and business-owners to the city of Philadelphia, and reduce development costs for commercial and residential properties.” In addition to the enablement of promising city growth, it also helps NRIA clients make better returns on their investments.

It’s clear that Philadelphia is a good place to invest right now. Realtor.org ranked Philadelphia third on its list of top ten markets for first-time home buyers. The ranking was based on five key factors, including prices, inventory, popularity, time on market and local unemployment rates. Typically, first-time buyers or new investors are burdened with property taxes and fees, but they don’t have to worry about those concerns in Philadelphia.

The city is also funding revitalization efforts, which will ensure that property values continue to rise. For example, Philadelphia has placed sizable investments in its low-income housing areas to encourage housing development, economic stability, and other improvements.

This has transformed many parts of the city. One massive abandoned factory was converted into affordable housing, and a number of other industrial buildings have also been developed in similar ways.

This pro-investment environment makes Philadelphia a place where prospective buyers can feel confident that communities and neighborhoods are flourishing, and that the rental property market is solid.

Philly has also invested in energizing its city centers in ways that support neighborhoods and boost investment potential. The city funds a Corridor Management project to improve streets capes. Local corridor managers assist businesses by bringing in resources, overseeing cleanliness and safety, and making efforts to attract new businesses to the neighborhood.

What does this mean for Philadelphia investors? The environment is ripe with opportunity. In fact, property investment is becoming more lucrative in many other U.S. cities because the trend of New Urbanism is driving demand and development in urban centers.

All types of investments carry risks, regardless of the city and nature of the investment. But in today’s market, it’s easier than ever before to obtain a bank loan and leverage your capital.

Not only will Philadelphia investors benefit from the 10-year tax abatement program, but they also have the opportunity to get tax deductions from money spent on maintaining their property.

Property has always been an important investment avenue, but such dealings are always safer when they are made in a reliable and strong market. It’s important to take advantage of the unique opportunities available in particular locales. As National Realty Investment Advisors professionals contend, investors can expect long-term gains when they take advantage of top experts and invest in promising markets like Philadelphia’s.