We strive to educate ourselves to provide you, with nothing but the best Real Estate service. Now more than ever, you can put your trust on us for all your Commercial Real Estate needs.
Our commercial team now has 2 Certified Commercial Investment Members (CCIM) to serve you the way you deserve.
Marcia Valdez – Commercial Department Manager – CCIM
Carmen Figueroa – Old San Juan property specialist – CCIM
CCIM stands for Certified Commercial Investment Member. The CCIM lapel pin denotes that the wearer has completed advanced coursework in financial and market analysis, and demonstrated extensive experience in the commercial real estate industry. CCIM designees are recognized as leading experts in commercial investment real estate.
Above all, the CCIM designation represents proven expertise in financial, market, and investment analysis, in addition to negotiation. Courses in these core competencies are taught by industry professionals, ensuring all material reflects the state of the industry. With this real-world education, CCIM designees are able to help their clients:
-Make informed decisions
-Close more deals
For all your commercial Real Estate needs, rest assured that…
We got your back!!!
Who is buying in Puerto Rico right now and why-and what are they buying?
Puerto Rico has always been of high appeal for the international market due to its climate, beautiful beaches, magnificent gastronomy and its deep rooted history. The fact that real estate values have reached their lowest point since the beginning of the local recession, has created an excellent opportunity for well informed buyers; that together with the tax incentive laws (Act 20 & 22) enacted in order to attract foreign capital and encourage investment on the island, make living and working in Puerto Rico more enticing than ever before for foreign investors either to establish their principal residence, invest, relocate and/or establish their businesses.
In addition, the local market has maintained a reasonable pace despite the market phase in which we find ourselves and we have observed an increase in individuals from different professions using real estate as a principal investment instrument.
How is the local property market performing and what (negatively or positively) is influencing this performance and especially in the light of Puerto Rico’s well-documented economic problems?
As in any recessionary period, the industry prices have experienced a consistent decline during the last eight (8) years; this in turn has brought historical opportunities to both local and international buyers, where they have been able to make excellent investments that produce returns difficult to match on American soil. In addition, the still available low prices, have enabled countless of single individuals and young couples to acquire their first home.
Although the price reduction applies in general terms, there are certain market segments that have been positively affected by government initiatiatives, such as the tax incentive laws enacted by the PR government in 2012 (Act 20 &22) to attract foreign capital and investors.This together with the island’s attributes such as its climate and geographical location, among other factors, create the ideal conditions for thousands of people to choose PR as their destination for primary residence, to operate their businesses and export their product and/or services. Due to this injection of individuals and / or businesses with high purchasing power, the “High End” market in sectors such as Condado, Dorado, Palmas del Mar and others, have been positively impacted, reducing the available inventory in these sectors and raising their prices.
What are the most popular locations with foreign buyers and why?
Places of greatest demand for “foreign buyer” are: o Old San Juan due to its invaluable centuries-old architecture and history, its rich cultural diversity, and its classification as a unique destination as being the “oldest preserved Amercia city”. o Rincón a place of preference for many Americans due to its rich beaches for surfing, o Condado for its cosmopolitan and magnificent Hotels and Isla Verde which has the most famous urban beach of the island.o Aguadilla has become a hub of multinational companies due to its strategic location and has managed to attract many corporate families. o Palmas del Mar in Humacao is considered the best “Resort of the Caribbean” offers a beautiful Golf Field designed by Gary Player, in addition to the Yatch Club & Marina restaurants, and o Dorado which has been one of the favorite places for families that come to PR as a results of the previously mentioned Act 20/22 incentives, mostly attracted by their beautiful planned communities, golf courses, hotels, and beaches.
What types of property represent good value at the present time?
There are some segments in the market that represent a good opportunity for typical buyers, such as: properties adjacent to the beach, golf courses, gated community properties, residential apartments and commercial premises located in urban areas, as well as eco and agricultural lands, among others.
Would you advise foreign buyers to purchase within a gated or managed community? Are there any restrictions on non-US citizens buying property in Puerto Rico?
Not necessary, as the old saying says, Location, location, location.
In your view, what’s the best option in terms of buying a golf course property and why? (By the way I have played TPG Dorado Beach)?
As mentioned above, PR is one of the best alternatives in the world to invest in real estate, mainly because of the real estate appreciation, and its location as a Caribbean island, while at the same time enjoying American Citizenship, US Currency and Federal Laws. All these attributes make PR a great and a safe place to live; nevertheless, properties in golf course communities such as Dorado Beach East and Palmas del Mar have experienced an increase their prices due to increased demand of the High-End market.
How do prices for such golf courses properties compare with similar in, say, Florida or Punta Cana?
I can’t expand in this subject since I’m not well informed about market behavior in such places.
What advantages, if any does Puerto Rico have over Florida or the Dominican Republic as a place to buy?
All previous answers speak for themselves but I believe each Country has its own magic.
Is buy-to-let a worthwhile option for investors and how could such a property be managed from afar?
We are in the ideal moment for a typical buyers and/or investors to buy properties due to all the attributes already mentioned, specially the new laws created to place PR as the Tax Heaven and the New Singapore of the Caribbean PR, which turns PR into the safest place to live and invest.
La longevidad en cualquier profesión, pero más aún en los bienes raíces, depende de:
1. La calidad de tu preparación.
2. La calidad de la empresa en la que te desempañas.
3. La calidad del “coaching” y la “mentoría” que recibes.
4. Tu pasión por la profesión.
REIRE y RR te apoyan en las primeras tres. La pasión, te toca a ti.
The Global Relocation Professional (GRP) designation was created by Leading Real Estate Companies of the World® (LeadingRE) to provide comprehensive professional development in the area of relocation.
Nearly 100 people have earned the designation since it was introduced in August, after completing a series of courses on topics including managing international referrals, implementing relocation guidelines, understanding referral policies and successfully serving relocating clients.
“We are continually getting informed and educated to strive in helping our clients when assisting them in any relocation process or relocation related service we provide them. It is an honor to receive this designation and we know this will be another highlight in the standard for excellence we always seek when we assist clients who are new to their area or those moving across the country or around the world.” Said RR, Relocation Coordinator, Euridice Molinary Cruz.
We at Reality Realty are proud to be the only real estate company in Puerto Rico with an established and expanding Department dedicated to Relocation and Destination Services. For more information feel free to contact our Relocation Department at (787) 745-8777.