Puerto Rico – A Great Place to Invest
Are you thinking about investing in Puerto Rico real estate?
We have put together this guide for investors considering making an investment in property in the Caribbean and wondering whether Puerto Rico might be the best place to choose to buy property, whether that might be a house or villa, a condo or a parcel of land.
Here we take a look at the top reasons for buying property in Puerto Rico and for investing in this territory of the USA, high potential investment opportunities and the best places to invest.
7 Reasons to Invest in Puerto Rico Real Estate
1. A US Jurisdiction in the Caribbean
2. Tax Incentives
3. Easily Accessible
4. High Quality of Life
5. Sophisticated Infrastructure
6. Rebounding Real Estate Market
7. Breathtaking Attractions
Best Places to Invest in Puerto Rico
Investment Opportunities in Puerto Rico
Find Out More About Investing in Puerto Rico
From its highly attractive tax incentives to its eclectic cultural scene, there are all kinds of reasons for choosing to invest in Puerto Rico. Here are our top 7 reasons to invest in this Territory of the USA.
First and foremost, Puerto Rico offers the allure of a tropical island in the Caribbean with the security of being a territory of the USA. Like many other islands in the region, Puerto Rico basks in year-round warmth and sunshine. Its coastline is fringed by some of the best beaches in the world and surrounded by warm, clear Atlantic and Caribbean waters while inland majestic mountains are covered in lush tropical greenery. However, in contrast to other islands in the region, Puerto Rico is a self-governing territory of the USA. This means that English is one of its two official languages, the territory is subject to an American legal framework and the US Dollar is the official currency. This means that Puerto Rico is one of the only destinations in the region that visitors from the US mainland can travel to without a passport. This also means that buyers can invest in Puerto Rico real estate with the peace of mind that all the protections that come with US Federal Law apply here too.
In addition to its unique appeal of being a tropical paradise in the Caribbean and a US Jurisdiction with all the comforts and protections provided by US Federal law, Puerto Rico has put in place a set of highly attractive incentives designed to attract investment from high net worth individuals, empty nesters and retirees. In 2019, Act 60–2019 (known as the “Puerto Rico Incentives Code”) was signed into law. The Act codified various incentives, subsidies, and benefits under Acts 20 (the “Export Services Act”) and 22 (the “Individual Investors Act”) of 2012, including incentives for both businesses and individuals relocating to the territory. In the case of individuals who take up residency in Puerto Rico, Act 60 reduces income tax to a flat rate of 4% and offers a total exemption from taxes on dividends and capital gains.
Puerto Rico is also easily accessible from the US mainland via short, daily, non-stop flights. The island has 11 airports, 3 of which welcome direct international flights. Luis Muñoz Marín International Airport which services the capital San Juan is, in fact, the busiest and most important air hub in the Caribbean region. San Juan Airport handles 8 million passengers per year via 1,800 weekly flights operated by more than 20 airlines. The island can be reaches in roughly 2.5 hours from Miami and 3.5 hours from New York.
As one of the leading destinations in the Caribbean, Puerto Rico offers the opportunity to enjoy a very high quality of life. The island is home to some of the best hotels in the world, several of which features world-class championship golf courses such as the Robert Trent Jones Jr.-designed course at Bahia Beach, the East Course and Sugarcane Course at Dorado Beach and the Royal Isabela Golf Course at Isabela – hence its nickname “the golf capital of the Caribbean”. Puerto Rico also offers diverse dining, shopping and entertainment options that are simply not available in many other Caribbean destinations. Enjoy browsing the boutiques at Plaza Las Américas and the Mall of San Juan, exploring the island’s cuisine at an eclectic mix of restaurants serving everything from elevated home cooking to elegant dishes created by top chefs and dancing the night away at lively rooftop bars and clubs in chic Condado and Old San Juan.
As a territory of the USA, Puerto Rico benefits from sophisticated infrastructure that is lacking in many other Caribbean islands. In addition to the busiest airport in the Caribbean, Puerto Rico has 11 seaports, 24,000 miles of highways and the Caribbean’s first rapid transit system which serves the San Juan metropolitan area. The island also benefits from high-speed broadband internet and robust landline, wireless, cloud and ethernet services.
Having suffered severe damage from Hurricane Maria in 2017, Puerto Rico has since been on the road to recovery. After several years of declining property prices, the real estate market has begun to show strong signs of rebounding. Several factors have contributed to a rebound, including tax incentives outlined, an inflow of insurance and federal funding and a stream of buyers from the mainland on the hunt for bargains after the hurricane. While it may still be a buyer’s market, 2019 saw an increase in property prices and a rise in transactions and that trend is set to continue.
One of the most beautiful islands in the Caribbean, Puerto Rico is blessed with breathtaking attractions including the world’s brightest bioluminescent bay on Vieques, pristine beaches on Culebra and the majesty of the El Yunque National Forest which is home to rare flora and fauna such as the Puerto Rican Parrot. Besides sites of outstanding natural beauty, Puerto Rico also offers sites of unique cultural and historical importance, such as Old San Juan (Viejo San Juan), the historic colonial section of the capital which is a UNESCO World Heritage site dating back to the 16th Century and the oldest settlement in the USA.
Summary: A Top Tier Caribbean Destination
So, in summary, whether you are drawn to the beautiful beaches or the tax incentives, the high quality of life or the beachfront real estate, the reasons to invest in Puerto Rico are many and varied.
To find out more about where to invest in the islands, explore the best places to buy property in Puerto Rico on our website.
Discover investment opportunities in Puerto Rico on our website:
- Search: Puerto Rico real estate
- Search: Homes for sale in Puerto Rico
- Search: Condos for sale in Puerto Rico
- Search: Land for sale in Puerto Rico
- Search: Hotels for sale in Puerto Rico
Would you like to find out more about investing in Puerto Rico? 7th Heaven Properties is here to help you. We have the insight and advice you need to begin investing in Puerto Rico real estate.
To find out more, contact 7th Heaven Properties, the Luxury Caribbean Property Specialist.
We look forward to working with you and helping you find your perfect property in Puerto Rico.