Puerto Rico's home values are rising sharply, climbing 11.6% in Q1 2025 compared to the previous year, leading to a growing economic strength in the territory. Contributing factors include tax incentives for wealthy newcomers, a recovery from past hurricanes, and booming tourism. However, the rapid price increases, with the median home sale price reaching $290,000, strain affordability, particularly for locals. Despite the increases, home prices remain lower than those on the U.S. mainland, attracting outside buyers after a prolonged period of stagnation in the housing market.
Puerto Rico's home prices surged by 11.6% in Q1 2025, indicating economic recovery but straining affordability for local residents amid a historic housing boom.
The housing market boom in Puerto Rico, marked by a 22% increase in last year's final quarter, is fueled by tax incentives, tourism growth, and infrastructure recovery.
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