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Another Historic Milestone: Puerto Rico’s High End Real Estate Market Continues to Blaze With $14.6M Condo Sale

Another Historic Milestone: Puerto Rico’s High End Real Estate Market Continues to Blaze With $14.6M Condo Sale

The beginning of 2024 is off to a red-hot start, with an astonishing $14,600,000 sale just recorded for a 3,800 sq. ft. ground-floor unit at the exclusive Ritz-Carlton’s West Beach at the Dorado Beach Resort in Puerto Rico. Leading this remarkable transaction at over $5,000 per square foot were Puerto Rico’s top boutique brokerage firm, The Colectivo Group, along with its luxury specialist agent, Mónica Gotay.

This marks the seventh +$10M resale in the history of this prestigious oceanfront community, with The Colectivo Group being involved in five of those transactions. Since the inception of Act 60 tax incentives in 2012, the luxury market has experienced a parabolic rise. Puerto Rico’s allure of island living, combined with its low tax rates, has magnetized high-net-worth individuals, successful members of the diaspora, athletes, and entertainers alike.

For decades, the municipality of Dorado has stood as a favorite destination for tourists worldwide. The ongoing development of the Dorado Beach Community by local developers PRISA Group spans three decades, crafting a world-class destination for resort-style living.

The Colectivo Group’s Managing Partner, Ricky Santana, explains the enchantment of West Beach and West Point condos:

“It’s the perfect combination of a peaceful community, crystal clear waters, and being embedded within very generous nature trails that makes it the ideal place for retirement or escaping the stress of daily living.”

However, one of the lesser-known gems is that this area is a haven for water sports enthusiasts. The wind and water conditions are highly favorable for kite surfers, E-Foilers, and surfers. This location embodies the very spirit of island living, beckoning adventurers and serenity seekers to its shores.

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