Thanks to tax incentives like Puerto Rico Act 20, and Act 22, investors have been regaining their trust in Puerto Rico as an investment opportunity. This can be seen in the Island’s luxury building boom, as many new properties are being built—or completed–in order to accommodate those who come to PR to start new businesses or simply to step away from their homeland and enjoy this Caribbean paradise.
Given its strategic position as part of the U.S., Puerto Rico has all the advantages you could find on the mainland U.S., together with the unmistakable Caribbean island life you won’t find in any other place. The stimulus seems to be working, since prices are low and buying opportunities are great. Besides, no property taxes for five years is an incredible incentive for those looking to invest in these top 5 Puerto Rico real estate investments.
While is no lie that the Island of Enchantment is in a tough spot at the moment, it’s trying hard to become the pearl of the Caribbean it once was. Check for 100% financing offers on many of these properties and other incentives that are hard to refuse.
Here we present you with 5 real estate investments you shouldn’t miss:
A 47-unit development of 8,379 sq ft. multilevel penthouses within an extraordinary beachfront designed by the architect behind Miami’s Bacardi buildings. It’s located on Ashford Avenue, the San Juan’s equivalent of Rodeo Drive. The development is at a walking distance of many stores like Cartier and Ferragamo. It’s also close of one of the top Latin restaurants in the island.
Dorado Beach, Ritz Carlton Reserve
Dorado Beach is a Ritz-Carlton Resort located thirty-five minutes west of San Juan. Dorado Beach is not only a hotel, as it has two residential sections: West Beach, with thirteen Mediterranean-inspired condos and 14 more that are being built; and East Beach, where 10 single-family houses are projected. Dorado Beach main attractions are its massive 18-hole golf course, and an eco-adventures program with activities like snorkeling, hiking, and tours around the wetland areas.
Bahia Beach Resorts & Golf Club
Sitting on the opposite side of the island is Bahia Beach and Resort, a hotel on the edge of El Yunque rain forest. This real estate offers us the uniqueness of being an eco-friendly environment that puts the nature first while giving its occupants all the comfort and luxury they deserve. The 26 properties are plantation-style houses on a private island. The houses include pools, travertine marble floors and coral stone terraces.
This oceanfront development is located close to Condado and Old San Juan and it’s comprised of three towers: Laguna Plaza, Bahia Plaza, and Caribe Plaza. It has entertaining amenities like shopping centers and dining areas. The development’s sales have been strong and there are not so many units left. However, Bahía Plaza’s, where we can find urban lofts and flat-style apartments ranging from 915 to 2,820 sq. ft. sales are about to launch and anybody interested in getting an excellent property that can maintain or increase its value should consider taking a look at it.
Solarea Beach Resort
Located in the exclusive Palmas Del Mar Resort area, we find Solarea Beach Resort, an exclusive community with 74 apartments with huge windows and marble finished bathrooms. Solarea’s condos are known for their privacy, each floor has only two apartments with 3 bedrooms each. One of the bedrooms is in “lockout style” and it has a separate entrance with its own kitchenette. The whole development has its own power generator and they all qualify to receive Act 68 tax incentives.
Although the island’s recent tax incentives have improved sales and the development of the real estate sector is at a rise, Puerto Rico, as any growing country, is experiencing its own share of problems. However, this issues don’t tarnish the Island’s almost infinite possibilities. Don’t let others tell you a different story and come to Puerto Rico yourself, you might want to stay.