Off-plan apartments for sale in Puerto Rico: 7 flats

FAQ

How can a foreigner buy an off-plan flat in Puerto Rico with Global Properties?

Whether you plan to purchase a new off-plan apartment in Puerto Rico to enjoy vacations on a tropical Caribbean island, move there permanently, or invest in profitable properties, the Global Properties website can assist you with all aspects: from finding housing units from reliable developers and agencies to providing necessary information on the purchasing process and migration requirements.

Our platform offers more than 7 residential and commercial properties: from budget-friendly studios to luxury villas in Puerto Rico.

What is the cost of apartments in residential complexes in Puerto Rico?

Average sale price: $2.4 million.
Average price per sq. m: $2,360.
Minimum property cost: $1625000.
Most expensive unit: $20 million.
Over the past year, the average price has increased by 1.15%.

How to obtain a residence permit when purchasing off-plan flats for sale in Puerto Rico?

Buying property on the island does not automatically grant a foreigner the right to temporary residence. However, any non-resident must have a visa to stay in the region. This rule does not apply to citizens of the United States or Canada, as the Caribbean island is under U.S. jurisdiction and is often considered an unofficial 51st state. Therefore, all immigration and entry permission processes follow the same system as in the U.S. For most countries, visas must be applied for at a U.S. embassy by preparing a set of documents and submitting an application form in English.

For nationals of over 40 countries, primarily European ones, and citizens of Australia, Japan, and South Korea, an easier entry process is available via ESTA (Electronic System for Travel Authorization). This electronic visa, valid for up to 90 days, allows travel within the U.S. or any of its territories. To apply, you'll need:

A valid passport.
Payment card details to pay the fee (about $21).
An email address.

To visit the island, even for a tourist trip, all foreigners must apply for a special visa or an electronic travel authorization (ESTA). Further, if you plan to live in the country, you must apply for a residence permit or an immigration visa.

Various types of entry permits exist depending on your purpose of travel. Generally, these permits are divided into two major categories: immigrant and non-immigrant. For non-residents intending to purchase property on the Puerto Rican island, the following types of permits are suitable:

Business and tourist visa (B1/B2):
- B1 visa is intended for foreign visitors coming for business or conferences.
- B2 visa is for tourism, medical treatment, or visiting friends and relatives.
- Both permits are valid for up to 90 days.
Trade visa (E): Suitable for entrepreneurs engaging in commercial or investment activities in the country.
H-1B visa: Granted to highly skilled professionals in various fields.
H-2A visa: Issued to individuals working in the agricultural sector.
Visa for talented individuals (O): For individuals with extraordinary abilities and significant achievements in science, art, education, or business.

The country also offers a special Investor Visa for foreigners who make a substantial financial contribution to the island's economy and develop its strategic sectors: agriculture, industry, tourism, and IT. Investors are required to reside in the country for at least six months a year and create jobs to reduce unemployment. By meeting these conditions, entrepreneurs may qualify for certain tax benefits.

Off-plan apartment in Puerto Rico

If you're looking for an ideal place for vacations, remote work, family living, or retirement, buying apartments in Puerto Rico is an excellent choice. The island's natural landscapes, featuring tropical rainforests, mountain ranges, 300 sandy beaches, and three breathtaking bioluminescent bays (of which only five exist globally), will captivate even the most seasoned travelers. The region is perfect for enthusiasts of active leisure and extreme sports like ziplining, rock climbing, windsurfing, kitesurfing, snorkeling, and diving. For those who prefer a more relaxed lifestyle, the pristine beaches, golf courses, nature reserves, museums, and rich colonial Spanish architecture offer endless appeal.

As the birthplace of rum and Latin American salsa dance, Puerto Rico offers a cultural experience that leaves no one indifferent.

In addition to these incredible perks, the country boasts a low cost of living, a relatively high level of safety, and a well-developed infrastructure.

It's no surprise that demand for local real estate among foreign buyers is steadily rising. Foreigners are allowed to purchase any property here. This can include full ownership (pleno dominio) in a personal name or registering the property under a legal entity. The latter option may be more advantageous for tax purposes and facilitate quicker resale.

Moreover, foreign nationals looking to buy apartments and requiring additional financing can apply for a mortgage.

Prices of apartments for sale in off-plan projects in Puerto Rico vary depending on location, size, and surrounding infrastructure. In the capital, San Juan, apartments in desirable neighborhoods range from $500,000 to $22 million. Average prices per square meter in other popular cities are:

Ponce: $1,000–1,500.
Mayagüez: $1,200–1,700.
Arecibo: $800–1,200.
Aguadilla: $1,000–1,500.
Isabela: $900–1,400.
Caguas: $1,400–1,900.
Guaynabo: $1,700–2,300.

New developments are traditionally popular in larger cities. The advantages of new buildings are evident: spacious and modern layouts, higher-quality construction materials and finishes, advanced technical features, rich internal and external infrastructure, and well-planned surrounding areas.

With such benefits, an apartment in a residential complex directly from the developer, with the option of installment payments, becomes an attractive option for buyers.

Investments in off-plan apartments in Puerto Rico

Thanks to its status as one of the leading resort destinations in the Caribbean, its rich history, culture, and attractive tax benefits, the island attracts investors from all over the world.

A high influx of tourists drives demand for high-quality housing, making rental income from apartments a promising investment opportunity.

Foreign buyers face no restrictions when purchasing property in Puerto Rico. Unlike other Caribbean countries and Central America, expatriates do not need to obtain any special licenses or permits to buy property.

The local market for residential and commercial properties offers relatively affordable prices compared to mainland U.S. The average price for apartments in off-plan projects in Puerto Rico for investments is around $2,360 per square meter.

The flourishing tourism industry, along with growing interest from expatriates and retirees, sustains a strong demand for vacation rental properties. With ongoing improvements to infrastructure and the diversity of cultural and natural attractions, the region continues to be a desirable destination for investors.

The most popular areas for purchasing real estate include:

San Juan: As the capital and largest city of the island, itis the most sought-after location for expatriates and digital nomads. It offers modern infrastructure and stunning beaches. The best neighborhoods for purchasing apartments are Condado, Old San Juan, and Isla Verde. San Juan has a wide range of housing options to suit any taste and budget, making it a top choice for investors.
Rincón: Situated on the island's western coast, Rincón is renowned for its excellent surfing spots and beach activities, as well as its vibrant rental market. Sandy Beach and Domes Beach are particularly attractive for buying homes or villas.
Ponce: Known as the "Pearl of the South," this city is celebrated for its cultural heritage and historic architecture. It's home to numerous art galleries and museums. Properties in Playa de Ponce and the Historic Zone appeal to those interested in Puerto Rican culture.
Dorado: Located on the northern coast, this city features upscale residential complexes and golf courses. Its proximity to San Juan makes it an ideal choice for those seeking a quieter environment without being too far from the city. Purchasing a new apartment in this area offers both a comfortable lifestyle and a solid investment opportunity.
Fajardo: Found on the northeastern coast, Fajardo is famous for its marinas and breathtaking natural beauty. Neighborhoods like Las Croabas and areas near the Fajardo Lighthouse are ideal for buying resort properties.

According to statistics, rental liquidity on the island averages 8.42% (as of the first quarter of 2024). Rental yield varies significantly depending on the location of the property:

San Juan: Rental yields range from 4.22% to 10.26%, with an average of 5.75%.
Ponce: Yields range from 11.19% to 11.6%, with a city average of approx. 11.39%.
Caguas: Yields range from 8% to 8.21%, averaging 8.11%.
Fajardo: Yields range from 3.12% to 4.53%, with a city average of 3.82%.

Tropical beaches and premium hospitality, a rich cultural and historical heritage, a high quality of life, tax benefits, and a variety of resort properties with attractive yields are just some of the reasons to invest on the island.

Buy off-plan apartment in Puerto Rico

Immerse yourself in the promising world of the island's real estate market with our curated selection of listings. Thanks to a user-friendly search form, advanced filters, and quick-link navigation, you can easily find a property for living or investment. Our platform consolidates all options in one place: studios, condominiums, luxury apartments, villas, and mansions from top developers and trusted agents. You can instantly view their prices in the currency of your choice (dollars, euros, etc.) and select the optimal option for your needs.