Considering investing in real estate in Puerto Rico
Looking for a solid investment opportunity, but aren’t sure where to look? Puerto Rico real estate is an excellent alternative if you’re interested in Caribbean property. Whether you’re interested in a land parcel, condo, home, or villa, there are multiple advantages of investing in Puerto Rico real estate.
Puerto Rico is Under US Jurisdiction
Puerto Rico has the designation of being one of the USA’s self-governing territories. This means that you don’t need a passport to travel to the island, and that the US dollar is the official currency. You don’t have to worry about fluctuating exchange rates affecting your purchasing power or having to do quick conversions to understand prices on the island.
Any real estate transactions, including the purchase of investment property, are governed by the US’s federal laws. Investors can buy property secure with the knowledge that these laws protect their investments. Mortgages, loans, and bank accounts also operate according to US laws and regulations. Not only does this protect your assets, but it makes it easier you to acclimate to the island.
Puerto Rico has access to many US programs and resources in case of a natural disaster. The island’s infrastructure, such as the water and power systems, roads, and bridges, adhere to US construction standards.
Puerto Rico is Undergoing a Period of Positive Changes
The Puerto Rican government is currently working to rebuild the local economy after nearly a decade of financial decline. This means that there are many tax incentives designed to encourage economic development. Investors who decide to become Puerto Rican businesses pay a flat income tax rate of 4 percent and individuals pay a 0 percent tax rate. Dividends and capital gains are also entirely exempt from taxes.
Many of the rebuilding and construction projects required to recover from Hurricane Maria are in the works and expected to continue through 2025.
Puerto Rico is Easy to Access
It’s a short 2.5-hour plane ride from Miami to Puerto Rico. Or, if you’re arriving from New York, the length of the plane ride increases to 3.5 hours. Puerto Rico has 3 airports with direct international flights. This ensures that you have multiple options for flying to the island.
There is a High Quality of Life in Puerto Rico
Puerto Rico is known for its gorgeous natural beauty and pleasant climate. The ocean waters are comfortably warm the entire year and house enchanting coral reefs. However, Puerto Rico also offers a high quality of life. If you’re planning to spend time on the island or permanently relocate, you can maintain a comfortable lifestyle.
There are globally-renowned hotels, world-class golf courses, and an array of delicious dining options. Shops, clubs, bars, and boutiques abound throughout the island. You can easily find everything you need without having to leave the island.
The island is lush with beautiful natural attractions. There are pristine, white sand beaches perfect for sunbathing, swimming, and relaxing.
El Yunque National Forest houses multiple rare species, including the Puerto Rican Parrot. Picturesque mountains boast lust tropical fauna and offer exciting trails for hiking or horseback riding.
Thanks to the low tax rates, investors often experience an income boost when living in Puerto Rico. The infrastructure in Puerto Rico is among the best in the Caribbean. High-speed internet, phone service, and cloud services are all reliable and accessible.
Once you’ve arrived in Puerto Rico, it’s convenient to get around. There are more than 24,000 miles of highway and a rapid transit system in the San Juan area.
Investment Properties Offer Solid Income Opportunities
Planning to rent out all or some of your real estate? You should know that Puerto Rico attracts some of the highest lodging rates in the Caribbean.
If you’re interested in putting your property on Airbnb or renting it via a real estate agent, you’re likely to receive a solid return on your investment.
Though property prices experienced a decline after Hurricane Maria hit the island in 2017, they’re on the rebound and expected to continue to increase.
The Bottom Line
There are many solid opportunities and compelling reasons for investing in Puerto Rico real estate. Contact us today to get started!
