There was an article last week in the Philadelphia Inquirer that suggests more Philadelphia Condos are being rented. Here is an excerpt from the article:
Because the focus of residential construction during the boom times was on for-sale housing rather than rentals, there aren’t enough high-end apartments to go around now.
“We are finding the high-end rentals to be almost nonexistent, as they rent fairly quickly,” said real estate agent Mark Wade, of Prudential Fox & Roach.
Condos near the University of Pennsylvania and Thomas Jefferson University “have a built-in demand for rentals, and we have seen that equation play out year after year,” Wade said.
Read more here:
Prudential Fox and Roach Realtors
530 Walnut St. #260 Philadelphia, PA 19106