St. Pete’s red hot property market, in a nutshell
Not just St. Pete, but in the whole Tampa Bay, property prices are surging and new construction is barely keeping pace with demand. The City has pledged to address the issue of lower-income residents getting squeezed out as rents skyrocket. Real estate close to downtown is especially desirable, where older residential properties had survived as housing for poorer people. Some landlords took advantage by selling up to developers, others have evicted their tenants to refurbish their properties and put them back on the market at the new prevailing rents, as previously run-down districts become gentrified. Both scenarios are on view here.
St. Pete’s red hot property market, in a nutshell
Not just St. Pete, but in the whole Tampa Bay, property prices are surging and new construction is barely keeping pace with demand. The City has pledged to address the issue of lower-income residents getting squeezed out as rents skyrocket. Real estate close to downtown is especially desirable, where older residential properties had survived as housing for poorer people. Some landlords took advantage by selling up to developers, others have evicted their tenants to refurbish their properties and put them back on the market at the new prevailing rents, as previously run-down districts become gentrified. Both scenarios are on view here.