Considering investing in Philadelphia residential real estate? Despite news reports about a downturned real estate market, there is no better time than today to get started.
Factors to consider when choosing the best real estate investment opportunity include:
o How long you want to hold the property
o What areas are the best for your situation
o Whether you want to “flip” the property or develop and improve it over time while renting to a tenant
If you plan to purchase Philadelphia real estate and rent your property, you may want to invest in Philadelphia’s developing neighborhoods, such as the Art Museum neighborhood, including the communities of Franklintown, Spring Garden, Fairmount, Brewerytown, and Francisville. These areas are enjoying a renaissance that attracts young professionals eager to increase property values.
For many Philadelphia real estate investors, the best neighborhoods are those in close proximity to the city’s major medical schools, including Hahnemann Medical College, Thomas Jefferson University, University of Pennsylvania School of Medicine and The Temple University Medical School, opening in May 2009.
Hahnemann Medical College
Hahnemann Medical College at 1505 Race Street is one half of the new Drexel University College of Medicine, a collaboration between Hahnemann and the Woman’s Medical College of Pennsylvania. Hahnemann Medical College develops the brightest physicians and health care professionals, and the community surrounding Hahnemann Medical Center is reflects this in a friendly, affordable and low key atmosphere. Real estate investors can purchase affordable Philadelphia properties in close proximity to this esteemed institution, along with all the advantages of the best of Philadelphia city life.
Thomas Jefferson University
Thomas Jefferson University enjoys national recognition as a top quality health educator at the Jefferson Medical College, Jefferson College of Graduate Studies and Jefferson College of Health Professions. Jefferson Medical College, near famed Walnut Street real estate, has been a positive force in the booming Center City high end housing market of Rittenhouse Square, where multimillion dollar Philadelphia real estate abounds amid a tree-filled park, trendy shops, excellent restaurants, and two five-star hotels.
University of Pennsylvania School of Medicine
The University of Pennsylvania School of Medicine prepares medical students to deliver quality health care services in a responsive environment that addresses current and future needs of the community and fosters the development of professional responsibility. Located between University Avenue and Spruce Street, this emphasis on progress means real estate values are growing at a healthy pace. Living in this community makes Philadelphia city life easy to enjoy, particular because it is so close to fine shopping, top restaurants, major roadways and world-class entertainment. No wonder Philadelphia real estate values continue to rise!
Temple University Medical School
Across from Temple University Hospital, on the west side of North Broad www.realestateout.com, is a stunning 480,000 square foot glass and brick structure–The Temple University Medical School opening May of 2009. This beautiful 11-story medical school building will occupy one city block and serve as a source of pride for North Broad Street. Real estate in this area is already improving in value. No doubt the distinctive character of North Broad Street real estate will thrive and grow because of the Temple University Medical School. Philadelphia residential real estate investors would be smart to consider this the next big area of Philadelphia real estate growth.
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