San Juan

San Juan is the capital and economic heart of Puerto Rico, and the island's deepest, most liquid real estate market. As a U.S. territory, Puerto Rico imposes no restrictions on foreign or mainland ownership; non-residents buy freehold on identical terms to locals, closings run in English and Spanish, and the U.S. dollar is the currency. Act 60 (consolidating the former Acts 20 and 22) continues to draw high-net-worth relocatees, who must acquire a primary residence within two years of their decree, fueling demand in luxury enclaves like Condado. In 2026 the San Juan metro median sits near $654,000 with luxury oceanfront stock reaching $900,000-plus and an average around $527 per square foot. Gross apartment yields run roughly 3.5%-5.2% in the urban core (city average about 4.2%), while beachfront Isla Verde clears 6.7%-8% on short-term rental demand. Island-wide luxury appreciation held at 6%-14% year-over-year into Q1 2026, with Condado prices up 38%-65% since 2020. Short-term rental rules tightened under municipal registration requirements, but tourism volume keeps occupancy strong. San Juan blends colonial-era trophy property in walled Old San Juan with full-service oceanfront towers in Condado and Isla Verde, giving investors both heritage scarcity and resort-grade rental cash flow.