Research

Puerto Rico Retail Report, H1 2021

While there was a brief 56% decline in retail sales in April due to the COVID-19 pandemic, retail sales have been growing quite steadily ever since, and reported a high of $3,072.4  million for March of 2021.  Retail property prices are also on the rise due to increased tourism and relocation to the island, specifically Class A retail in the San Juan Metro Area.  The island’s economic outlook remains relatively strong with life science manufacturing companies coming back to the island.  There have been no significant changes to incentives, which remain focused on bringing jobs and capital to the Island.

 

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