With its light red brick sidewalks shaded by ancient trees and its neoclassical style white houses, Portsmouth Olde Towne cannot but be love at first sight.  One of the oldest American seaport cities, this beautiful Virginian town is featured with a famous seawall and many historic buildings, stately palaces and public museums.  A lively downtown that is always fully booked with a pack of cultural, artistic and musical events and dotted by a plethora of small shops and ateliers where to go hunting for antiquities, jewelries and handmade clothes, creates a lively scene that attracts many visitors from everywhere and makes the hotels booked all year round.

Not surprisingly, Portsmouth is one of the most successful tourist places in the US by totaling around 13 million visitors in 2017 together with the nearby Virginia Beach.  Tourists spent over 80 million dollars there in 2017 giving a noticeable contribution to the economy of the old town.  Much of Portsmouth’s success is due to its past. According to the Register of Historic Places of Virginia, this city has 22 official historic buildings and 2 historic landmarks, which makes this sea port one of the most important historic towns of the state and the US.  Its artistic and cultural heritage is well preserved, as the rehabilitation of Portsmouth Olde Towne has become one of the priorities of the local city council on the consideration that historic preservation has proved to be a great way to provide long-term social improvements to any community.

Portsmouth can be an ideal place for a one day short trip, for a vacation, or even for permanent stay, as it is very well connected to the reminder of Hamptons Roads.  Driving to Virginia Beach takes only 26 minutes, to Norfolk and Chesapeake 15 minutes or less. The Hampton Roads Executive Airport is a few miles away, and Norfolk port lays just around the corner with its many facilities and services.  Being a town at the center of a wide urban area that includes some of the most lively, dynamic and vibrant Virginian towns, Portsmouth is the ideal place for those who wish to enjoy all the advantages of an urban yet peaceful environment that is full of events, restaurants and venues but not too far from business centers.

This is the reason why we think that Olde Towne is a good idea for those who have or wish to relocate in the area of Hamptons Roads.  The availability of houses is not large, because Olde Towne is only one square mile, but rents and prices are less expensive than some other urban zones in the area.  In other words, Olde Towne still offers some good bargains.  Apartments for an extended stay are offered also in several urban developments, like Harbor Tower or Park View.  Rents are less than Virginia Beach and range from $1000 – $1500 per month.

For those who are looking for some good opportunities to invest instead, Olde Towne could be your best deal in the forthcoming years, not only because of it being a major tourist attraction, but also for the social growth of the community that is attracting middle-class residents.  In other words, the quotations of shops and houses are ultimately destined to augment in the long term, despite short time fluctuations. Therefore, if you buy now, you can reasonably expect to sell for more in the future.

Our team can be really helpful in giving you the best advice about real estate opportunities in Olde Towne. We can also actively search for housing in Portsmouth on your behalf, for either a summer holiday or relocation.  Please feel free to contact us for further information at any time you wish.

Photo credit and more info: oldetowneportsmouth.com