The city of Pittsburgh real estate landscape is truly enticing for buyers and real estate developers alike. If you enter the city of Pittsburgh through the Fort Pitt Tunnel, you can witness the gorgeous skyline of the city. You will then be on the bridge that will take you where the rivers Allegheny and Monongahela meet and form the Ohio. Pittsburgh today has expanded in all directions and has numerous bridges that connect the rivers and neighborhoods.
Revitalization of Pittsburgh
The city, in the recent times, is considered as a great example of economic diversification and innovation with many major companies, including the steel industry, having their headquarters or a strong presence in it. It is also lauded for its educational system due to some of the top universities like Carnegie Mellon, Chatham, Carlow, Duquesne and the University of Pittsburgh that are located in the city. The cultural district, several museums, Carnegie science center, Mattress Factory, many historical centers and the annual festivals make the City of Pittsburgh an excellent place to live in.
And if man-made structures weren’t enough, Pittsburgh also has a plethora of natural attractions for the nature loving ones. The diverse neighborhoods, growing option of cuisines and local businesses has something on offer for everybody. The real estate scene is quite vibrant since the housing options in Pittsburgh includes everything from traditional Tudors and Victorians to condominiums and mid-century modern. The historic Northside is quickly becoming a popular place to live or visit. As Airbnb continues to grow in the burgh, more and more people have the opportunity to experience the city through the home of a native.
Renting in Pittsburgh
Buying houses, fixing them up and selling them, or as they say in real estate terms, ‘Flipping’ a house is becoming the new thing that real estate developers are getting into. Given the fact that Pittsburgh’s property values in most of its communities have remained flat or grown very slowly, it missed the national housing boom of the early to mid-2000s. However, in the last two years, many housing values in Pittsburgh neighborhoods have appreciated by double digits. This rise was triggered by investors who were smart enough to exploit the demand created by workers in technology, medical and oil and gas industries.
According to a survey conducted by RealtyTrac, Pittsburgh is one of the most profitable places to flip a house. This is mainly because there is a vast inventory of distressed properties which combined with affordability and demand ensures a great ROI for investors. There is also a lack of new houses being built, so nicely renovated properties are
the second-best option for people looking for homes in the desired areas of Pittsburgh. The city of Pittsburgh real estate has a unique perspective on offer for both developers and future homeowners.