New Mixed-Use Real Estate Development in Puerto Rico
Mixed-use developments combine multiple types of spaces within one development, typically blending residential, commercial, and office areas.
Vertical mixed-use developments combine different uses of space stacked on top of each other in a multi-story building. Retail spaces might be on the ground floor, office spaces on the second and third floors, and residential units above.
Horizontal mixed-use developments are spread out over a larger area, typically in a low-rise configuration, often where a shopping mall is adjacent to residential houses, or an office park with restaurants and cafes nearby.
Live/Work developments are where people can live and work in the same building, often ideal for individuals with small businesses, artists, or entrepreneurs who prefer a short commute.
Retail-centric mixed-use developments are a mix of residential and office space, that can be shopping malls with residential units or offices located on upper floors, or mixed-use developments with a strong emphasis on entertainment and dining.
Commercial and residential integration aims to create effective work-life balance in a single location, allowing for a flexible living environment, and are often found in urban or suburban areas.
Mixed-use developments can take many forms, depending on the location, goals, and needs of the community, but they all share the common goal of creating dynamic spaces that foster interaction, reduce the reliance on cars, and enhance the quality of life for residents and visitors alike.
Why Buy or Invest in New New Real Estate Developments in Puerto Rico.
Puerto Rico offers various tax incentives that are incredibly beneficial for real estate investors such as Act 60 (formerly Acts 20/22), whuich refers to Investors who relocate to Puerto Rico can receive significant tax breaks, including exemptions on certain types of income and capital gains. This makes the island particularly attractive to wealthy investors and businesses looking to reduce their tax burden.
Puerto Rico has several areas designated as Opportunity Zones, offering federal tax incentives for real estate development and investment.
Puerto Rico has long been a popular beach based tourist destination, and this trend has been accelerating. With continued investment in infrastructure and tourism, demand for vacation homes, short-term rentals (like Airbnb properties), and hospitality-related real estate is on the rise. A booming tourism and resort orientated industry directly translates to increased rental potential and property value growth.
Puerto Rico has seen an influx of new development, including luxury condos, luxury residential gated communities, hotels, and mixed-use properties. These developments are supported by both public and private investment in modern infrastructure like roads, airports, and utilities. This makes real estate investment appealing, as these new properties benefit from higher standards and amenities that attract both locals and tourists.
Puerto Rico is a U.S. territory, which means that U.S. laws apply to real estate transactions. Investors can avoid some of the complications associated with investing in international markets, such as dealing with different legal frameworks or currency risks.
