Population growth and low cost of living have driven an unprecedented boom in Philadelphia's residential real estate market over the last two years, drawing national interest from investors and developers that experts say should continue unabated in 2016.

“Philadelphia wasn’t always mentioned as a place that was a hot market or a place to invest,” Ballard Spahr LLP real estate chair Bart Mellits said. “People didn’t think there was enough juice in the market, but now I think people are seeing the value here. This is a walkable city with a lot to offer.”

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