Puerto Rico Land Report, H2 2021
After enduring a fiscal crisis, an extended recession, a multitude of natural disasters, and a global pandemic, Puerto Rico has continued to be resilient. The Island’s resurgence is founded on its healthy business environment, its status as a part of the United States, its highly competitive tax code, its coming emergence from government debt restructuring, and its entrepreneurial spirit. As 2022 begins, we feel optimistic that Puerto Rico will continue to expand and grow.
Location continues to be a primary driver in Puerto Rican real estate, and land is no exception. Parcels that are closer to urban areas, especially the San Juan Metro Area, tend to attract more buyers and command higher prices. Generally, the closer the piece of land is to high traffic zones, the more valuable it is for commercial use. Location is an easier problem to solve in Puerto Rico than in other U.S. markets as property value can vary greatly from parcel to parcel; however, this can often be due to excess quality.