Few places in the Caribbean rival Puerto Rico for beauty and even fewer for investment potential. As a territory of the United States, it has almost been recognized as one of these states several times over the past two decades. Political optimists predict that in our lifetime the United States will add Puerto Rico as its fifty-first state. With statehood, real estate values in this small island country will skyrocket. Savvy investors are actively browsing Puerto Rico real estate listings today with an eye on what tomorrow might bring.
Of course, there are many other reasons to buy land, a house or a hotel in this tropical paradise. Rich in history, natural beauty and a vibrant yet colorful lifestyle, it is a natural draw for tourists, retirees and those who can afford the luxury of spending weeks or months in the one of many rentals ranging from small apartments to seaside mansions. Many who visit, however, don’t bother to leave. With home and property prices still in the “reasonable” range by investment standards, there are plenty of people and businesses eager to seal the deal on some investment-grade Puerto Rico.
Unlike some of the smaller island nations in the Caribbean, it can give you city or countryside views. It has stunning beaches, towering cliffs and waterfalls, and a thriving tourist economy. Of course, tourism isn’t the only draw for people interested in investing in its offerings.
Industry is also thriving here, where shipping lanes to the United States, South America and Central America intersect. This makes it a place where investors interested in industrial, commercial and residential properties can afford to make a financial killing. Puerto Rico’s real estate market is a draw for almost all types of real estate investors, and perhaps for a few of us who are simply charmed by the beauty of the place and the warm, tropical winds.
Whatever your reason, I suggest you spend a few weeks in Puerto Rico and familiarize yourself with the different regions. There are many real estate agents offering international rentals and you can use the time to sightsee and see targeted areas for potential investment.
With its tropical overtones and subtle Americanized social infrastructure, this country is perhaps the most underrated investment opportunity in this region of the world. This does not mean, however, that real estate in Puerto Rico is not selling or that it has bottomed out in price. While there are bargains to be had, there is no glut of desperate properties for investors to mop up. Even with the current housing crisis in the United States, the Puerto Rican market is holding up and reselling properties here generally earns the investor a good return on their initial investment.
So for warm winds, a range of geographical beauty and a variety of properties with varying potentials, think about it and consider it an investment with a bright future.