Property Investments in Puerto Rico
- Beach front properties
- Visit without Passport Required
- U.S. legal system
- U.S. banking system
- U.S. currency
- a lot of properties to choose from.
Investing in Real Estate in Puerto Rico is extremely attractive now. The Puerto Rico real estate market is currently in “buyers market” territory. Several factors have gone into this. First there is a transition into new economies based on technology. Act 20 and Act 22 have brought entrepreneurs to the island that are starting new tech hubs across Puerto Rico. Second, a minimization of public sector jobs has prompted many people to move to the Continental U.S. and leave many properties behind and lastly the end of the last real estate boom left many with too many real estate holdings and not enough capital to cover them. This has lead to an increase in bank owned properties and thus a huge opportunities for new investors that are savvy and know how to spot valuable opportunities.Why Puerto Rico Real Estate:
Puerto Rico is one of the most beautiful places on earth. With over 272 miles of coastline it is the embodiment of island living. The dream of having beach front property is never as close as in Puerto Rico. Beach front properties or within walking distance is a real possibility for the person that knows how to spot great opportunities.
Many people that hear about the opportunities on the island end up in a couple of areas that have been heavily marketed. This limits the prospects of getting an investment property at an attractive price, given the over saturation of investments in these areas. But Puerto Rico investment properties are everywhere on the island. There are so many beaches to choose from, why limit yourself.Metro area:
For others, they just want a place to hide away from their normal life within a short distance from the beach but closer to shops and more chic restaurants. San Juan Metro area has that attractive quality, where you can shop and dine or take in a stroll in a historic part of the city. For people that are looking for this the opportunities are even more attractive. Puerto Rico is known for it’s international cuisine, and it’s shopping districts. So people that want the best of both worlds can look inland for real estate investment opportunities.Why Puerto Rico:
The best way to put it is that Puerto Rico is a beautiful island, that cannot produce more land. Land is at a premium there. Now where the circumstance favor investment on the island, people can invest and buy an apartment or a second home there and take advantage of all the opportunities. The window to invest in real estate in Puerto Rico will not be open for ever. It is best to jump in and start looking into real estate investments there. Puerto Rico’s banking is the same as in the United States. You don’t need use a passport to fly there. Puerto Rico currency is the U.S. dollar. Bank accounts are subject to the same FDIC protections than in the U.S.How we can help:
Our Puerto Rico lawyers have knowledge of both the U.S. legal system and the Puerto Rico legal system. Although U.S. federal law prevails in Puerto Rico, local law “state” law is based on Spanish Law. This intersection between Spanish and U.S. law can be complicated. Our U.S. based firm with offices in Puerto Rico can help you maneuver both systems effectively. We want to make sure that you are protected in all areas and minimize any potential surprises down the road. We have been working with U.S. based clients and in Puerto Rico for more than a decade. We know what they expect, how they like to work, and how informed they liked to be through the whole process. Our Puerto Rico lawyers have vast local knowledge of regulations, laws and processes that are essential for selecting, securing and purchasing real estate in Puerto Rico. Call us now to make an appointment.