Sometimes Philadelphia, which is geographically situated between New York and Washington, DC, is overlooked as the thriving, vivacious City that it truly has become by the rest of our nation. Philadelphia may not attract investors like Miami, Las Vegas, or some hot spots in California might. You won’t find our streets littered with movie stars, paparazzi or neon lights. Most folks here in Center City Philadelphia probably don’t have our own swimming pool or driveway either.
Poor, poor Philadelphia….
Oh, and soaring, monthly double digit appreciation in home values? No, we don’t get much of that either. This sorry backwoods of an urban area suffers from such neglect. Bummer, eh?
Uh, no. Not in the least. Very few Philadelphia real estate owners are upset with such dismal happenings here in town. Many of us are actually delighted to that fact.
Keep your Brittany Spears, your tofu cafes, and your oxygen bars. We don’t portray much of a need for those effects. You see, we are your slow, stupid cousins. Those of us who buy a piece of Center City Philadelphia real estate, such as a Rittenhouse Square Condominium or Old City loft, see those investments appreciate at an awfully slow, five to fifteen percent per year, or so….that latter figure being an excellent year.
But you see, the difference is that Philadelphia real estate has sustained this kind of growth in value for almost twelve years in a row. And according to various newspapers and publications, such as The Philadelphia Inquirer and The Philadelphia Daily News, there doesn’t seem to be an end in sight.