Miramar: Your Puerto Rico Real Estate Neighborhood Overview - Relocate to Puerto Rico with Act 60, 20, 22

Miramar: Your Puerto Rico Real Estate Neighborhood Overview

Miramar is a trendy waterfront enclave of Santurce, the largest and most populous neighborhood in San Juan. Miramar contains some of the best in Puerto Rico real estate and Puerto Rico luxury rentals. A middle and upper-class residential neighborhood, Miramar sits on both the stunning Condado Lagoon (“Laguna del Condado”) and the vast Bay of San Juan (“Bahia de San Juan”).

Whether you are searching for Puerto Rico rentals or Puerto Rico luxury homes, Miramar is a great, centrally located, waterfront neighborhood to consider for your relocation to “La Isla Del Encanto”.

Location & Language
Only 10 minutes from San Juan International Airport and just 5 minutes from the beaches of Condado and Ocean Park, Miramar sits along the Condado Lagoon waterfront in the vibrant city of San Juan. Founded in 1521, San Juan is the largest metropolitan city on the island and the capital of the United States territory of Puerto Rico. With nearly 2.2 million people living in the greater San Juan area, the tiny quarter square mile neighborhood of Miramar has a population of just 4,500, as dense as larger and more populous areas of the capital.

Both English and Spanish are the official languages of the island. Those buying Puerto Rico real estate or Puerto Rico luxury rentals in Miramar will find most residents speak English.

Real Estate Prices in Miramar
Miramar boasts a stunning array of historic Puerto Rico luxury homes. Some of Miramar’s Puerto Rico luxury rental towers even overlook the ocean, beyond the high-rolling towers of Condado across the lagoon.

The 2021 median listing price for Miramar, Puerto Rico real estate is $375,000 USD, nearly double the $146,400 USD median of all Santurce combined. Miramar is a historic district, home to both historic Puerto Rico luxury homes and waterfront Puerto Rico luxury rentals, where prices can top $4.3 million USD, and could sell for significantly more soon based on recent trends. However, affordable condos can be found here starting at $200,000 USD. There are also more affordable Miramar rentals available with apartments starting at $1000 per month, although these prices have also started to rise quickly.

Shopping & Dining
Miramar is largely a quiet, residential neighborhood full of historic Puerto Rico luxury homes. Luxury brands such as Ferragamo, Gucci, and Louis Vuitton are congregated in nearby oceanfront Condado, and preeminent local designers, such as Lisa Cappalli, have shops in Santurce. In Miramar, the state-of-the-art Puerto Rico Convention Center, an architectural jewel, attracts vendors from all over the world, and has transformed the surrounding neighborhood into an upscale retail destination.

Dining options are few in residential Miramar, but there are many local dining options in Santurce, such as La Casita Blanca and Bebo’s Café, both on Loíza Street, just steps from the fine Puerto Rico rentals and Puerto Rico luxury homes of Miramar. Some of the finest restaurants in Puerto Rico are in Condado, including Michelin-rated chef Juan José Cuevas’ opulent 1919 Restaurant. Locally, Miramar staple Los Pinos Café is open 24 hours a day, ready to indulge those late-night cravings for authentic Puerto Rican cuisine.

Nightlife & Entertainment
An historic residential neighborhood of prime Puerto Rico real estate, Miramar has a quiet nightlife scene, especially compared to nearby Condado and Santurce. Caribbean Cinemas is a cinephile’s dream, and a perfect date spot for catching everything from new releases to live ballet to cult and arthouse films. The Puerto Rico Conservatory of Music puts on concerts all the time, right in the neighborhood.

The neighborhood is also a travel hub to some of the more exotic locations in Puerto Rico. The Isla Grande Airport in Miramar has daily flights to the tropical islands of Vieques and Culebra, renowned for their bioluminescent waters and undeveloped, natural Caribbean beaches abutting boundless wildlife refuges.

Outdoor Activities
Miramar has two marinas in the Bay of San Juan, making the neighborhood not only a hotspot for Puerto Rico luxury homes but for sailboats and yachts. Sailing and watersport rental shops are common along the marinas, such as Club Náutico de San Juan, which offers sailing lessons to both kids and adults. Club Náutico de San Juan also hosts the International Billfish Tournament, a huge tourist draw. The Condado Lagoon and the Bay of Puerto Rico make for great waterfront exercise routes, with bridges to Condado Beach, known as the “Caribbean Riviera”, and historic, oceanfront Old San Juan.

Weather & Hurricanes
Miramar’s average temperature matches that of greater San Juan, at between 75 and 86 degrees Fahrenheit year-round. However, being near the ocean, Santurce often feels cooler, due to the sea breezes.

Hurricane season lasts from June to November in Puerto Rico. When looking at Puerto Rico real estate, make sure that your future home is as prepared as possible to withstand these devastating storms. From Puerto Rico rentals to Puerto Rico luxury homes, PRelocate’s hurricane advice for homebuyers is essential reading.

Transportation
Public transportation options are limited in Miramar, making cars a necessity. However, Uber is extremely common in the area, taking passengers from Miramar to anywhere in greater San Juan and points beyond. Though considered one of the safest residential enclaves for Puerto Rico luxury homes and luxury rentals, not all areas of Miramar may be safe for night walking.

Private Schools
The greater San Juan area has terrific private schools, with solid track records of graduates matriculating into mainland U.S. higher education institutions. All offer students a bilingual education in both English and Spanish.

Miramar is a part of the larger Santurce neighborhood of San Juan, which boasts more than 20 private schools, including the Gersh Academy for autistic learners in Ocean Park, and St. John’s School and the Robinson School in nearby Condado. St. John’s is frequently ranked as the best private school in Puerto Rico, and students from both institutions have gone on to Yale, Harvard, MIT, and more.

There are plenty of educational opportunities in greater Santurce, including International Baccalaureate schools, Catholic schools, and traditional K-12 charter schools, whether steps from the best in Puerto Rico luxury homes or more affordable Puerto Rico rentals.

Act 60
Puerto Rico’s income tax laws make it extremely attractive to business owners and investors, both internationally and in the mainland United States. Act 60 allows Puerto Rico residents to pay zero taxes on passive income and allows relocated corporations or local companies to pay just 4% income tax.

PRelocate’s Real Estate Brokerage Services
If you’re looking to purchase or rent real estate in Miramar or other similar areas of Puerto Rico, PRelocate can help. We’re a licensed real estate brokerage firm (license C-21696) with experience and extensive knowledge of the Puerto Rico real estate market. Our team is professional, responsive, friendly, and experienced, and with both native English- and Spanish-speaking staff, we can help you break down any language barriers you might encounter. We can save you time and effort by helping you find the right Puerto Rico property for you quickly and easily. In the meantime, you can view current real estate rental and for sale listings.

For more information on real estate and to learn how to benefit from Act 60, contact PRelocate today.

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Disclaimer: Neither PRelocate, LLC, nor any of its affiliates (together “PRelocate”) are law firms, and this is not legal advice. You should use common sense and rely on your own legal counsel for a formal legal opinion on Puerto Rico’s tax incentives, maintaining bona fide residence in Puerto Rico, and any other issues related to taxes or residency in Puerto Rico. PRelocate does not assume any responsibility for the contents of, or the consequences of using, any version of any real estate or other document templates or any spreadsheets found on our website (together, the “Materials”). Before using any Materials, you should consult with legal counsel licensed to practice in the relevant jurisdiction.

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