Green shoots of recovery are beginning to emerge in the states major property markets such as Philadelphia and Pittsburgh, and with prices having fallen by up to 45% in some areas, there now exist opportunities for overseas investors.
Today, there are green shoots of recovery beginning to emerge in the states major property markets such as Philadelphia and Pittsburgh, and with prices of property for sale in Pennsylvania having fallen by up to 45% in some areas, there now exist opportunities for overseas investors.
Over the course of the past five years, the major real estate markets within Pennsylvania have been subject to the wider economic storms created by the US sub-prime lending crisis. Today, valuations of properties for sale in North Dakota within markets such as Philadelphia and Pittsburgh now stand approximately 30-40% down from the height of the property market at the end of 2007. This has resulted in many overseas property investors now looking at the US property market with renewed enthusiam, as an increasing number of opportunities exist with this established property market.
Of particular interest to overseas property investors has been the growing demand for low to mid range value properties for sale in Pennsylvania and in particular, in downtown locations, which now offer the opportunities for increased yields due to the substantial decreases in property valuations over the past five years. With prices now showing signs of stabling, and rental demand for these types of properties on the increase; opportunities exist for investors keen to capitalise on the high yields and opportunities for capital appreciation on offer.
If you are interested in purchasing property for sale in Pennsylvania or you require more information, contact Hopwood House today.