San Juan, known as "The Walled City", delves into the rich history of Puerto Rico with a precise mix of the old and the modern. The city is full of Spanish colonial architecture, with the fortress of El Morro and the old Fort San Cristóbal bearing witness to its past. In contrasting balance, the more residential and exclusive areas display an image of modernity and luxury. Located in northeastern Puerto Rico, San Juan has a unique charm overlooking the Atlantic and a tropical climate year-round.
Luxury Real Estate Market in San Juan
Currently, the exclusive property market in San Juan is strong and stable. The demand for luxury houses and apartments has always been high, and compared to the supply, remains steady. The political and economic situation of the city remains stable, providing a conducive environment for real estate investments.
Taxes and Commissions
When buying a luxury home in San Juan, some additional costs must be considered. The average real estate commission that a buyer or a seller pays is around 5%. The transfer tax applicable in San Juan is around 2%, and the wealth tax is roughly 1%. In terms of capital gain taxes, none apply if the property is used as a primary residence, but must be paid if used as a second home. The corporate profit tax for companies registered in San Juan is 20%, while the income tax for registered residents varies between 15% and 33%.
Accessibility and Location of San Juan
San Juan is very accessible both by road and rail. The nearest large city is Bayamón, which is only 16 km away. The nearest airports are Luis Muñoz Marín International Airport and Isla Grande Airport, at 14 and 5 km respectively.
Education and Health in San Juan
San Juan is home to significant educational institutions, including the University of Puerto Rico and San Ignacio de Loyola College. In terms of health services, the Hospital Auxilio Mutuo and the Hospital Pavia Santurce are some of the most recognized.
Attractions and Lifestyle in San Juan
San Juan is surrounded by beautiful beaches, making it a perfect spot for outdoor activities and water sports. The city is also a paradise for shoppers, with luxury stores like Cartier and Louis Vuitton. As for nightlife and entertainment, the Casino del Mar and Santaella Restaurant are some of the most frequented places. Each year, San Juan hosts the famous Festival de la Calle San Sebastián, attracting tourists from all over the world.
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