Favorite Neighborhoods
[Suburbs] -
[Condado] -
[Isla Verde]
Schools
[Guaynabo] -
[Rio Piedras] -
[Condado] -
[Miramar]
Helpful Facts
[Utilities] -
[Telephone] -
[Pets]
Transporting Your Vehicle from the U.S.A. to P.R.
Moving Day
[One month before you move] -
[Two weeks before you move] -
[One week before you move] -
[One day before you move] -
[Moving Day!
Facts at a Glance
[Economic Summary] -
[Trade & Investments Incentives] -
[Government] -
[$$$ - Activity in Puerto Rico]
Puerto Rico is different from any other community in which you have ever lived. The principal difference include the culture, the Spanish language and the incomparable weather.
While Puerto Rico is a part of the United States, its culture and social mores are charmingly Spanish. As a matter of fact, Puerto Rico is the oldest community under the American Flag. San Juan, its capital city, was founded in 1521, 40 years before the first settlement in the Unites States, St. Augustine, Florida.
The Island became part of the USA in 1898. In 1952 the people of Puerto Rico overwhelmingly voted for permanent union with the United States as a freely associated State of Commonwealth. Over the years, Puerto Rico has grown and developed into a truly modern and cosmopolitan community, blending the best aspects of American drive and imagination with the warmth and cultural heritage the Spanish left behind.
Today, the Puerto Rican is an American citizen but has no voting representation in the USA , therefore, pays no Federal income taxes. He has high regards for the social mix of his Spanish and American background.
Recreational opportunities abound in Puerto Rico. The best orientation on what to do is provided by the Tourist Development company's official brochure, , called "Que Pasa" (What's Happening). It is issued every three months and is the best guide to restaurants, shopping, sports, sightseeing, transportation,...
Yes, Puerto Rico is certainly different than any community in which you have ever lived ...and you will find that TIRI is different from any real estate company that you've ever worked with. We strive to give the best service possible and have the benefit of a vast experience in relocation during the past 26 years.
TIRI philosophy can be described in three words...service, integrity and responsibility.
TIRI has a well earned reputation for placing the interests of its clients first, and always abiding rigidly by the Realtor's Code of Ethics.
Although TIRI is the largest Realtor in Puerto Rico in residential sales, we understand that this doesn't necessarily make us the best. It takes really special services and special people to make that happen. Our 100 professional sales associates and office staff of 20 perform these services with enthusiasm and efficiency.
Being the largest residential Realtor in Puerto Rico doesn't make us the best. In fact, we like to think it's the other way around.
TIRI is an affiliate of PHH Homequity. The Homequity Relocation Centers Network is a broker-to-broker network composed of leading independent, market dominant real estate firms. Specialists serving the needs of relocating families and Firms selected by Homequity for professionalism and reputation with 36,000 Sales Agents in 2,000 offices across the country of the United States, Canada and in major cities in THE Americas and Europe.
At TIRI, we help you market your present home and help you find a new residence. And more, we provide up-to-date information on your new community, schools, shopping, government, taxes, churches, transportation, and everything you can think of.
We'll show you how to obtain a new drivers license, place your children in a good school, obtain mortgage financing. We'll go out of our way to help you solve problems before they happen. And TIRI does this at no charge. It's part of our service.
Americans coming to Puerto Rico from the mainland are called "continentals". Most continentals moving to the Island enjoy living in the greater San Juan Metropolitan Area, such as the Condado sector, Guaynabo, Río Piedras,Caparra and many other beautiful communities..
A prime consideration is the location of a school for the children. These areas all enjoy good schools.
Guaynabo, Caparra and some sections of Río Piedras are known for their friendly and informal way of life. There are community centers, clubs and good shopping.
Although there are now some condominiums in these sections, they are prized for their fine homes and estates. You can take your choice of a home on a well cared for street or have it set in the hills with breathtaking views. These are ideal areas for your children to be able to have lots of room to play, both indoors and out.
Life near the ocean with lots of swimming, boating and snorkeling highlight living in this area. Here homes are the exception, and condominiums are the way of life. Many enjoy expansive ocean views and good recreational facilities. This section is very "Americanized" with almost no need to speak Spanish. The schools are among the best and the shops are very exclusive. Your social life will bloom in this area with many clubs and charitable activities awaiting your participation.
Many people consider the beaches in Isla Verde to be among the most beautiful in the world. There are miles and miles of great beaches to walk on, or enjoy all varieties of water sports. There are a number of exceptional hotels with entertainment and casinos. All in all a fun place to live. TIRI will give you orientation of these different areas and then visit some of them.This way you will have a better idea of where you will want to live. We have an exceptional selection of fine homes and condominiums to offer you.
Puerto Rico's school system is the second largest system within the United States. Classes, however, are in Spanish, a significant factor for consideration by newcomers. Most executives moving to the Island generally send their children to private or parochial schools because of their high academic standards and English instruction.
Costs per child run between $3,000.00 and $6,000.00 annually plus transportation and lunch. The school year follows the U.S. pattern, from September to June. Early registration of children is extremely important.
While you are here we will take you to a number of schools that should meet your children's needs.
The schools listed here compare very favorably with those in the States and all teach in English, or English and Spanish.
Baldwin, Wesleyan, American Military, San Ignacio, María Reina, The Caribbean Preparatory School, Cupeyville, Academia San José, and Maristas.
Colegio San José
St. Johns, Robinson
Perpetuo Socorro
Housing in San Juan is plentiful. There are residential areas to fit all pocketbooks and tastes. In general, prices are somewhat higher than many parts of the States.
A good three bedroom, two bath home will range in price from $150,000 to $250,000. The land in Puerto Rico is very limited therefore very expensive. Within this price range you can expect about an 1/8 of an acre. When you desire more land, the price naturally goes up. Of course, a lot depends on the neighborhood. With about ¼ of an acre, and four bedrooms, prices average between $250,000 to $475,000 to the cost of a home. Most of our homes are geared to tropical living with beautiful foliage and terraces. There are also excellent townhomes available from $100,000.
Property taxes are usually lower in Puerto Rico than in the States. If you live in your home you are entitled to a $15,000 exemption. As a veteran you may also qualify for an additional $4,000 exemption. Many of our homes that are priced below $100,000 pay almost no property taxes. Some homes of about $150,000 will pay a few hundred dollars a year after the exemption is granted.
You're in good company when you consider buying a condominium. People from all walks of life and from every age group, income level, and life style own them.
Most people live in their condominiums full time, but many others buy them as vacation homes or as investments.
Condominium ownership in the United States goes back only to 1958 when the Commonwealth of Puerto Rico passed enabling legislation. Therefore, condominium living is common in Puerto Rico and all types of choices are available.
Condominiums in Puerto Rico are high risers. The smallest one will probably have 10 floors. Each unit is called an apartment. You will find condominiums anywhere in the greater San Juan Metropolitan Area. Many command breathtaking views of city skylines or mountains, or they overlook the ocean. The highest concentration of condominiums are found in Condado and Isla Verde.
Condominiums in these areas are somewhat expensive since they are located on or walking distance to the ocean. A good 2 bedroom, 2 bath apartment can range anywhere between $150,000 to $200,000. Condominiums that are extremely luxurious (marble floors, chandeliers, 24 hour security guard, more than 2 parking per apartment...) are more expensive, ranging between $200,000 to $450,000, and up Condominiums in other areas will not be as expensive, ranging from $90,000 to $150,000.
The great majority of condominiums have swimming pools, 2 parking per apartment, night guard, elevators that require keys, electronic gate to parking lot, etc...
Financing your home in Puerto Rico is pretty much the same than in the States. The same financing choices are available, Conventional, FHA and VA. Interest rates are a little bit lower than in the States due to a tax shelter (tax code 936) given to American corporations that are based in Puerto Rico. The funds generated by this tax shelter, approximately 3 billion dollars, must be deposited in the local banks and are to be used to provide mortgage loans. Thus, interest rates are lower.
Following we are providing you with a list of items that you may be required at time of loan application.
Electricity requires a deposit of $150 to AEE (Autoridad de Energía Eléctrica). You will not get the service connected unless the outstanding bill of the previous occupant is paid. Water requires a deposit of $75 payable to Autoridad de Acueductos.
It is usually best to have the telephone transferred to you by the previous owner. This requires a letter to the telephone company signed by the subscriber. You can reimburse the owner for his deposit. Remember, you then become responsible for any billing, whether you made the call or not. So be sure to make arrangements for the owner to pay any calls he has made.
Mayor long distance carriers are available in Puerto Rico; AT&T, MCI, and Sprint. Cellular phones are also available and used by many people.
To bring your dog or cat with you to Puerto Rico requires that you have the following:
Once this information is provided they will be able to give you an approximate value of how much excise tax you will have to pay to bring your vehicle into Puerto Rico
Moving Day can often mean Detail Day. Here's a quick check list to help you tie up the details.
People helping is not just the business of the folks at TIRI, it's a life style.
The TIRI men and women are outstanding People-Helpers, both professionally and privately. We combine our training and skills with personal concern and insight. We believe that personal service is too important to underestimate, especially in real estate. We solve the problems that lay the foundation for the kind of life everyone wants for himself and his family.
TIRI's service includes the expected as well as the unexpected. Like helping to register the children in school or having a house cleaned up for an absentee owner. The TIRI men and women perform above and beyond the call of duty. Not because they have to, but because they take things personally.
So, the warmth and personalized service that TIRI prides itself upon is an integral part of our philosophy.
We believe that this warmth, combined with the largest inventory of fine homes and condominiums available in Puerto Rico, gives the buyer an unequaled opportunity to acquire exactly what he is looking for.
Our relocation department, staffed with specially trained associates, assures you as quick and easy a move as possible.
WELCOME TO PUERTO RICO, WE AT TIRI ARE HERE TO SERVE YOU
Official name: Commonwealth of Puerto Rico
Capital: San Juan
Nationality: U.S. citizens; Commonwealth status. Puerto Ricans
Official language: Spanish, English is widely spoken
Population: 3.8 million
Head of State: Governor Pedro Rosello
Ruling Party: Partido Nuevo Progresista (PNP)
Currency: U.S. dollar
Time zone: Atlantic time (EST +1; GMT -4)
Phone code: Regional (Area) code 787 plus local number
Major airports: Luis Muñoz Marín International, Aguadilla Int'l on the west end of the island. This airport, on the site of the former Ramey Air Force Base, boasts the longest runway in the Caribbean and is rapidly expanding.
Airlines: Alm Antillian, Aero-postal, Aero Virgin, Air BVI Limited, American, American Eagle, Avianca, British Airways, British West Indies, Crown Air, Delta, Dominicana de Aviación, Iberia Spanish, LACSA, LIAT, Lufthansa, Mexicana de Aviación, TWA, United, USAir, Viasa, Virgin Island Seaplane, Wairdoir, World Airways
Puerto Rico has experienced rapid Industrialization and dramatic economic growth over the past 50 years. The economy, once dependent primarily on agriculture, is now based on manufacturing and tourism. Much of the island's early growth is attributed to "Operation Bootstrap", an industrial self-help program implemented in the late 1940's.
In the 1970's, Puerto Rico began to target "high-tech" industries for investment. These companies now account for almost half of Puerto Rican exports, totaling some $9.8 billion annually.
Today, Puerto Rico has a diversified economy with manufacturing and service industries comprising the principal sectors. Puerto Rico's strategy has been to encourage industrialization with tax incentives and duty-free access to the U.S. market. Under section 936 of the U.S. tax code, U.S. subsidiaries in Puerto Rico are exempt from federal taxes on local earnings, as well as some local taxes.
In fiscal year 1993 manufacturing generated $14.1 billion, or over 39% of gross domestic product. The main manufactured products include pharmaceuticals, processed food products, clothing and textiles, petrochemicals, electrical products and rum. The service sector which in fiscal year 1993 contributed $3.4 billion or 10.7% to the island's gross domestic product, employs some 235,000 workers.
In fiscal year 1993, Puerto Rico's gross domestic product reached $35.83 billion. The economic growth was due, mainly, to gross domestic investment and increased government spending.
Tourism is the second most important sector after manufacturing, with steady expansion since 1983, and accounting for over 5% of GDP in FY 1993. Puerto Rico attracted a record 3.9 million visitors in FY 1993, who spent and estimated $1.6 billion.
During the first quarter of 1992, hotel registrations were up 13.2 percent over the previous year and hotel occupancy rose to 72.5%. Hotel plant has been undergoing upgrading and expansion, and there is extensive hotel development, especially in the east and south-west, and in Culebra and Vieques.
San Juan is the second largest cruise ship port (in terms of total visitors) in the world. American Airlines uses San Juan as a regional hub for its Inter-Caribbean and South American operations, reflecting the growing importance of the island as a tourist destination and transportation center.
Average employment in Puerto Rico increased to 999,000 in 1993 from 977,000 during the previous year. The average rate of unemployment in 1993 was an estimated 16.8%. The inflation rate for 1993 was 2.8%
Free Trade Zones/Industrial Sites: There are three Free Trade Zones in Puerto Rico. One is located in Mayagüez, another one in Ponce and the other one in San Juan. Additionally, there are 106 Industrial Parks administered by PRIDCO, the Puerto Rican Industrial Development Corp.
936 Financing: Additionally, Section 936 of the Internal Revenue Code provides a special credit for certain income of qualifying corporations operating in Puerto Rico and possessions of the United States other than the Virgin Islands.
Tax Exemption: The Government of Puerto Rico has complemented section 936 by granting tax exemptions of up to 90% for income of certain approved enterprises for specific periods of time (generally 10 to 25 years). The combination of the Section 936 credit and the incentives renders corporations essentially exempt from tax on their Puerto Rican source of income. If you, or anybody you know has been exposes to asbestos or has mesothelioma cancer, they should visit a resource site.
Caribbean Development Program: Through Puerto Rico's Development Program corporations can take advantage of the Caribbean Basin countries low wages and Puerto Rico's advanced infrastructure and technical skills to lower the production costs and enhance their competitive position in the market.
Labor rates: Puerto Rican businesses must abide by U.S. Federal Labor laws such as minimum wage and hour standards and occupational health and safety. Wages vary from one industry to another; however, the average hourly wage (including fringe benefits) is around $6.45 in the manufacturing sector.
Puerto Rico has a representative government with a bicameral Legislative Assembly consisting of 27 Senators (two from each of the eight senatorial districts and 11 Senators-at large) and 51 members of the House of Representatives (one from each of the 40 representative districts and 11 elected at large) elected by universal suffrage for four year terms. Executive power is vested in the governor, also elected directly by the people for a four year term, and a Cabinet of fourteen secretaries.
Residents, though citizens of the U.S., do not vote in national elections and are represented in the U.S. Congress by a Resident Commissioner who is a member of the House of Representatives with a right to speak, but not to vote, except in House committees.
The judicial system is headed by a Supreme Court composed of a Chief Justice and six associate justices appointed by the governor with the consent of the Senate. The lower judiciary consists of Superior and District Courts with municipal justices similarly appointed. There is also a Federal District Court whose judges and attorney are appointed by the President of the U.S.
ACTIVITY IN PUERTO RICO FISCAL YEARS
% 1992-93 1993-94 OF CHANGE TOTAL VISITORS (THOUSANDS) 4,023 3,869 4.0% REGULAR VISITORS 3,042 2,854 6.6% FROM: UNITED STATES 2,117 1,995 6.1% VIRGIN ISLANDS 29 29 0.0% FOREIGN COUNTRIES 896 830 8.0% SPECIAL VISITORS 980 1,014 -3.4% TOTAL EXPENDITURES (MILLIONS) 1,737 1,628 6.7% REGULAR 1,670 1,563 6.8% FROM: UNITED STATES 1,162 1,092 6.4% VIRGIN ISLANDS 16 16 0.0% FOREIGN COUNTRIES 492 465 8.1% SPECIAL 67 65 3.1% TOTAL REGISTRATION IN HOTELS & PARADORES (THOUSANDS) 1,220 1,088 12.2% NON RESIDENTS REGISTRATION 803 760 5.6% AVERAGE OCCUPANCY RATE 68.7% 68.6% 0.1% ROOM NIGHTS OCCUPIED (000) 1,947 1,764 10.4% ROOM NIGHTS AVAILABLE (000) 2,834 2,573 10.2%
NUMBER OF ROOMS ENDORSED BY THE PUERTO RICO TOURISM 9,509 8,581 10.8% COMPANY AS OF JUNE 30
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