A Guide to Buying Property in Puerto Rico
Welcome to our guide to buying property in Puerto Rico.
Here you can find out all about the real estate market, including the best places to buy and property prices.
We also take a look at the process for buying property in Puerto Rico, getting a mortgage in Puerto Rico and how to get to Puerto Rico.
Overview – The Puerto Rico Real Estate Market
A territory of the USA, Puerto Rico, together with smaller sister islands Vieques, Culebra and Mona, is renowned for its beautiful and diverse landscape, which varies from white sand beaches to the El Yunque tropical forest and Vieques’s Mosquito Bay – the most brilliant bioluminescent bay in the world. Having been a Spanish colony for 400 years until ceded to the USA, the culture is equally diverse, blending American, Latin and Caribbean traditions and two official languages: Spanish and English.
Well connected to the US mainland, Puerto Rico has a well established tourism industry. The territory which is located between the Dominican Republic to the west and the BVI and US Virgin Islands to the east, is home to 25 golf courses and hosts the Puerto Rico Open. Several of these golf courses are located within beachfront resorts with luxury real estate for sale.
Having added an extra layer of appeal by introducing a range of tax incentives in 2012 for investors purchasing homes on the territory, Puerto Rico’s real estate market has succeeded in luring property buyers and setting Puerto Rico on a path to becoming, what some have called, “the Singapore of the Caribbean.” Significant future real estate development is therefore on the cards, with particular areas of interest including Cayey, Dorado, Miramar, Rincon, Rio Grande, Rio Mar, San Juan and the island of Vieques.
Search Puerto Rico Real Estate Listings
As specialists in luxury Caribbean property, we can introduce you to a wide selection of the finest residential property in Puerto Rico including homes for sale and condos for sale, land for sale to build your dream home, as well as commercial real estate such as hotels for sale in Puerto Rico.
Discover the most sought after real estate investment opportunities and benefit from unrivaled insight into the market.
To find your perfect property in Puerto Rico, search Puerto Rico real estate listings.
Aguada & Aguadilla
Discover Aguada & Aguadilla – Read our Guide to Aguada & Aguadilla Real Estate.
Discover Cayey – Read our Guide to Cabo Rojo Real Estate.
Discover Cayey – Read our Guide to Cayey Real Estate.
Discover Culebra – Read our Guide to Culebra Real Estate.
Discover Dorado – Read our Guide to Dorado Real Estate.
Discover Fajardo – Read our Guide to Fajardo Real Estate.
Discover Isabela – Read our Guide to Isabela Real Estate.
Palmas del Mar
Discover Palmas del Mar – Read our Guide to Palmas del Mar Real Estate.
Discover Rincon – Read our Guide to Rincon Real Estate.
Discover Rio Grande – Read our Guide to Rio Grande Real Estate.
Discover San Juan – Read our Guide to San Juan Real Estate.
Discover Vieques – Read our Guide to Vieques Real Estate.
Buying Property in Puerto Rico
Foreign buyers have the same rights to purchase property as in the USA. Property can be purchased in the name of an individual or a corporation.
Once you have made an offer on a property and that offer has been accepted, you will need to pay a deposit of 5% which will be held in escrow. You should engage a lawyer to assist you with the buying process. You will need to sign a public deed for the purchase of the property which should be prepared by a notary, executed in their presence and then filed at the Registry of Property.
There is a transfer tax which varies according to the value of the property.
Property tax also varies according to the appraised value of the property.
Puerto Rico is actively seeking to attract high net worth investors to the island. Since 2012, Puerto Rico has offered new residents a range of tax incentives including exemption from Puerto Rican income taxes on dividends, interest and capital gains.
Puerto Rico – Land for Sale
Purchasing a lot of land provides you with a blank canvas and the opportunity to build your dream home in Puerto Rico.
Whether you are looking for beachfront land or a centrally located lot, we’re here to help you find the perfect lot of land for sale in Puerto Rico.
For larger parcels of land for commercial development, please see our commercial real estate listings.
Saving on Your Purchase
You could save money when investing in Puerto Rico real estate by using a foreign exchange expert to get the best rate for your property purchase. We have partnered with Halo Financial, a specialist in foreign exchange, to help you get the best exchange rates when making one-off or regular international payments for a property purchase in Puerto Rico. To see how you could save money, read more: Foreign Exchange.
How to Get to Puerto Rico
There are direct flights to Puerto Rico from various cities across the United States, Canada and Europe (Spain).
Most international flights to Puerto Rico arrive at San Juan’s Aeropuerto Internacional de Luis Munoz Marin Airport – a major regional transport hub.
From the USA, fly from Atlanta (Delta), Charlotte (US Airways), Chicago or Miami (American Airlines), Newark (JetBlue) or Philadelphia (United Airlines).
From Europe, there are direct flights to San Juan from London (British Airways), Madrid (Iberia) and Frankfurt (Condor).
Atlanta to San Juan: 3 hours 40 mins
Chicago to San Juan: 4 hours 55 mins
Madrid to San Juan: 8 hours 20 mins
Miami to San Juan: 2 hours 40 mins
Newark to San Juan: 4 hours 05 mins
Toronto to San Juan: 4 hours 40 mins