More people are moving to Kendall Square
In the United States, reduced prices, record-low mortgage rates, higher rents and an improved job market has begun to affect the real estate market. MLS Listings in Boston, MA, have begun to move more regularly, and in certain neighborhoods, homebuyers are actually bidding for properties.
Kendall Square, located in Cambridge just outside of Downtown Boston, has experienced an accelerated housing boom, as major employers like Google, Amazon, Staples, Pfizer, Biogen Idec and Novartis are all opening up new offices or expanding in the area. This has caused rents to increase $46 per square foot in the community, reports The Boston Globe.
With more people looking to move to Kendall Square, it may be a great time to buy or sell in the area. Recently, reports from both JPMorgan Chase and Wells Fargo indicated an uptick in issued mortgages by 6 percent and 54 percent, respectively. It seems as if people feel more confident in the housing market as 2012 progresses, and homebuyers may want to get in at the bottom and purchase appreciating properties in Kendall Square before the market makes a full recovery.