4 reasons why more people are choosing Puerto Rico as their new home By Business Insider

• Between 2021 and 2022, 27,000 people relocated from the mainland US to Puerto Rico.
• Puerto Rico offers diverse housing options, top-tier schools, and an expanding quality healthcare options. 
• This influx boosts job creation, revitalizes the real estate market, and enhances community development.

When filmmaker Alana Mediavilla moved back to Puerto Rico after living most of her adult life in New York City and then Silicon Valley, she was initially drawn to the professional opportunities on the island. She quickly fell in love with the year-round summery weather, the chance for her family to connect with an international community, and the easy access to a vibrant natural landscape.

"There's something so energetic about the land here — it just feels so alive," she said.

Mediavilla is not alone. Between 2021 and 2022, 27,000 individuals moved from the mainland US to Puerto Rico, according to the US Census Bureau. Some move to take advantage of the island's remote-friendly employment opportunities, others of the island's competitive tax incentives: In 2023, the number of applications for businesses and individuals looking to access tax incentives for relocating increased by 12% compared to the previous year.

But once they arrive, people are pleased to find much more than they expected, including a relaxed lifestyle with plenty of amenities. Here's everything newcomers can look forward to. 

1. Housing options for any lifestyle

Finding housing is the first order of business for anyone moving to a new place. According to Blanca Hebé Lopez, the founder of real estate firm Corcoran Puerto Rico, the island has a diverse array of options, "from beachfront homes to vibrant urban lifestyles to exotic jungle escapes." 

Over the past few years, Puerto Rico has witnessed a boom in new residential inventory. From January 2021 to February 2023, over 16,000 housing units were sold in Puerto Rico, with more of those transactions than ever involving mainland buyers. While luxury real estate, in particular, is booming — in 2023, the median listing price for homes in San Juan surged by 26.7% year-over-year — newcomers can choose from plenty of options that fit any budget or lifestyle preference. 

For example, families may prefer amenity-packed communities like Dorado Beach and Sabanera, while young singles looking for city life can get a condo in San Juan neighborhoods. Those who prefer private, exclusive living may gravitate to Bahía Beach Resort in Rio Grande, while surfers looking to catch some waves can head to West Coast towns like Isabela and Rincón. Newcomers can navigate all these choices and find a home that meets their vision of island living by taking advantage of discovery trips and accessing neighborhood guides through Corcoran Puerto Rico.

2. Private education that sets the next generation up for success

Beyond its unique residential options and diverse neighborhoods, the island of Puerto Rico also offers high-quality educational opportunities for residents and families. 

"There is really strong private education on the island," said Federico Stubbe, Jr., the CEO of property developer PRISA Group. His company developed the TASIS School in Dorado, the first school in Puerto Rico (and second in the world) to win the "Program of Distinction" Award in Early Childhood Education from the Middles States Association of Colleges and Schools.

"The kids in our private school are getting into a more impressive roster of colleges than most of the best private schools on the mainland," Stubbe said. 

Mediavilla, who had been homeschooling her children in California before moving to Puerto Rico, was pleased to find a thriving homeschooling community in Humacao, where she's been able to create educational pods with other families. 

3. A mainland-trained medical network

A quality healthcare system is a key consideration for anyone looking to move somewhere new, and Puerto Rico offers a diverse network of providers and hospitals around the island. The PRISA Group has significantly upgraded local healthcare services by developing a state-of-the-art hospital, which is now part of a broader healthcare network. Plans are underway to expand the network with four additional hospitals.

Stubbe noted that the vast majority of Puerto Rican doctors are mainland-trained and that more clinics are opening up. When Mediavilla's daughter broke her arm, she was nervous about going to the emergency room but said it was one of the nicest hospital experiences she could have hoped for. 

"Everybody was so kind — you could really feel what we say it is to be Puerto Rican, just a person who cares and gives selflessly," Mediavilla said. 

4. A community of like-minded people

The last critical factor of settling into a new home is community — and Puerto Rico is a great place to find your people. 

Mediavilla, for one, noted that she and her family quickly bonded with locals and expats alike after they arrived. Not only did this help her family create a social network and adapt to the local way of life, but it also allowed her to tap into a deep pool of talent for her business. "There's a fantastic creative group here," she said.

Best of all, newcomers give back to the local community and support job creation by moving their businesses to Puerto Rico, investing in local nonprofits, and creating opportunities for upward mobility and wealth creation for locals who are now able to sell their homes for higher prices. 

"Having worked with hundreds of people relocating to Puerto Rico over the past several years, the best part of my job is seeing them become outstanding members of our community and helping to improve the island for everyone," Lopez said. 

"Call Eli Torres at (832) 430-2107, for your home buying and selling needs."

Source: www.businessinsider.com