05 Apr Buyers Taking Advantage of Rising Philadelphia Housing Market
PHILLY ON THE RISE
The Philadelphia real estate market is heating up, making now the perfect time to buy, with housing prices expected to continue rising through 2022.
While single-family home sale prices in the greater Philadelphia market rose 13% in 2020, outpacing the national average, luxury condominium prices in Philly’s Center City have remained relatively stable…for now.
However, with the downtown districts expected to re-open in a post-COVID 2021 and historic low interest rates still available, Center City condominium pricing will also see a surge as buyers return to the city and demand outpaces the supply of available inventory.
New condominiums in Philadelphia’s Center City offer a state-of-the-art, metropolitan lifestyle with luxurious services and amenities, yet without the price tag associated with high-end housing in other major markets like New York City, Los Angeles, or Washington D.C. Relative to these other urban centers, Philly has less population density, more outdoor parks and entertainment, and vibrant cultural and culinary scenes in a destination poised to burst back to life as pandemic restrictions recede.
CENTER CITY LIVING
The appeal of Philly’s Center City and neighborhoods, including the legendary Rittenhouse Square, will only continue to grow as people flock back to its impressive array of re-energized shopping, dining, nightlife, culture, and year-round outdoor events. The prospect of living in the middle of it all has never been more compelling.
Workers returning to their downtown offices will create even greater demand to be close to Center City versus working remotely. This is yet another reason Philadelphia’s luxury condominium market sales activity – and prices – are rising and will continue to do so well into 2022.
THE LAUREL – ON THE SQUARE, ABOVE IT ALL
With construction underway, The Laurel Rittenhouse Square offers a prime opportunity to own luxury condominium residences at the pinnacle of Philadelphia’s most prestigious address.
The Laurel introduces a lifestyle worthy of the final residential opportunity on legendary Rittenhouse Square. Refined city living has never been more comfortable, convenient, or effortlessly rewarding than it will be at The Laurel. The unprecedented, concierge-serviced lifestyle includes a private entry with valet and impressive lobby with serviced reception.
Residents will also indulge in a private, 26th floor amenity level with clubrooms, fitness facilities, a yoga studio, and luxurious heated indoor pool and spa offering sweeping views of the Center City skyline.
LIMITED-TIME OPPORTUNITY TO STYLE YOUR RESIDENCE
With many of The Laurel’s luxury condominiums already spoken for, potential buyers are encouraged to act now to benefit from best pricing, views, and selection of their residence’s interior finishes too!
As construction nears completion, limited time remains for the developer to offer buyers the flexibility to individually style their Laurel residence with the full array of premium finishes, features, and best-in-class appliances selected by The Laurel’s nationally renowned interior design firm, ForrestPerkins. You can read more about ForrestPerkins here.
The Laurel is poised to welcome its first residents home in 2022. To arrange your personal introduction to the last new luxury condominium on Philadelphia’s prestigious Rittenhouse Square, contact the Sales Gallery online or call (215) 709-7332.