Significant Number of Jersey Shore Property Owners from Wayne, West Chester
An astonishing number of residents of West Chester, Malvern, Wayne, and Newtown Square have a second property along the Jersey Shore, according to a staff report from the Philadelphia Inquirer.
Tax records of the New Jersey Department of Treasury indicate how much of a draw the Jersey Shore is for residents of suburban Philadelphia.
Particularly popular for Main Line residents are the communities of Avalon, Stone Harbor, and Cape May in Cape May County, with up to 87 percent of out-of-town ownership coming from this region.
Apart from its beauty, the Jersey Shore is also a sound investment as property prices have been rising steadily for the last five years.
Local businesses, like Newtown Square’s Hassis Men’s Shop, are also following the trend by opening up a second location there.
“For us, it is a no-brainer to have a summer store,” said Peter Marziano, the store’s general manager. “It is open from June through September.
Read more about the property owners at the Jersey Shore in the Philadelphia Inquirer by clicking here.
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