With the economic boom over the past decade, there has been an influx of investments coming into Pittsburgh. This stretches from buildings, to healthcare, to technology, as well as small businesses. Pittsburgh has an incredible opportunity for investment and it is finally seeing investors jump on that opportunity.
The first reason is age. Western PA is one of the oldest areas in the country. With that comes people retiring, properties generally less maintained, and owners selling their companies. This creates a great opportunity for investors in Pittsburgh to take advantage of new businesses, and distressed properties.
Another factor contributing to the growth in Pittsburgh is Technology and Healthcare. Massive companies like Google, Amazon, and Uber have made investments in the city. There are multiple offices setup here as well as a massive demand for engineers. This has caused an increase to Pitt and Carnegie Mellon applicants. With great jobs lined up right outside the campus, more money is coming in to these Universities.
Real estate has skyrocketed in value as well. Pittsburgh is an incredible city to live with culture, views, amazing sports, restaurants, and extremely low cost of living. This is created a ton of demand for people to renovate and resell older distressed properties. There has been an influx of development as well. This includes not only the single family homes, but massive condos and luxury apartment complexes. The more quality housing available, the more people will migrate to the city.
As an investor in Pittsburgh, the future looks bright for not just real estate, but local businesses too. With more money and job opportunities coming to the city, this creates more disposable income for consumers to spend. People like to buy things, so more businesses will succeed that provide great products and services to the community. This is also great for banking who will be financing a lot of these projects and businesses. The growth of Pittsburgh appears to be more secular and long term than most people envisioned. This creates a massive opportunity for continued investment in things like businesses, education, real estate, and health care.
Being an investor means searching for the opportunity. Even if it is something out of your comfort zone or an area you are not used to. Keeping your eyes open to any and all discounts or profitable ventures will generally lead to long term success in the investment game. Luckily Pittsburgh appears to have many profitable investment options at the moment. The question is for how long!