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Real estate firm recommends investing in Puerto Rico

By on February 11, 2019

Balconies are seen from a street in Old San Juan. (Tatiana Rodriguez on Unsplash)

SAN JUAN –  In a release, titled “Are the Top 3 ‘Places to Go’ in 2019 According to The New York Times Also Best for the Real Estate Investor?’ WIRE Consulting, which specializes in renting, buying, selling and appraising real estate, sees great investment opportunities in the top three of the 52 locations picked by the newspaper.

Puerto Rico was ranked the No. 1 spot in the Times’ annual ranking, as it continues to return to its state before Hurricane Maria struck in 2017.

“With an estimated 95 billion USD in total damages, 20% of properties were completely destroyed, dropping median house prices 16% before the efforts by the U.S. government took hold and the rebuilding and requalifying of the area in 2018 brought it up by 8%, a figure WIRE Consulting believes will continue in an upward pattern,” the consulting firm wrote.

“The close of 2018 showed property prices in Puerto Rico ranged less than $100/sq. ft., much lower in comparison to other Caribbean islands, making it the ideal opportunity for the American interested in making a real estate investment or looking to retire in an exotic location,” WIRE added.

The firm also said that Hampi, a Unesco World Heritage site in the northern part of the Indian state of Karnataka, is “as appealing to the overseas investor.” Santa Barbara, Calif., third on the Times’ list is “expanding in the wine scene and gaining importance as a foodie destination,” making it “one of the most exclusive locations in the U.S.,” as well.

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