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Tax Breaks Are Driving a Rush to Buy Property in Puerto Rico



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Many Puerto Ricans say they can no longer afford to remain in their homes with outside investors buying up properties and driving up prices.Jan. 31, 2022RINCÓN, P.R. — The last time strangers approached Samuel Sánchez Tirado while he was trimming his front lawn, he pretended to be the landscaper so that they would leave him alone. He knew what the uninvited visitors wanted, and he was tired of having the same conversation over and over again.Mr. Sánchez lives in Rincón, a seaside town in northwestern Puerto Rico famous for surfing and sunsets that has become a hot spot for wealthy investors looking for tax breaks. The visitors, like so many before them, were interested in buying his one-story home, which is a two-minute walk from the beach. It is not for sale, but that has not stopped the unsolicited offers f …

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