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Short-term rentals (STRs), locally referred to as "alquileres a corto plazo," are legal in Rio Grande Municipality, Puerto Rico, but are subject to evolving regulations aimed at addressing their growing impact on the housing market. The area has seen a substantial increase in STRs, rising from about 1,000 in 2014 to over 25,000 by 2023. Properties that thrive in this market typically include urban apartments and vacation homes in scenic areas, catering predominantly to tourists drawn by nearby attractions like El Yunque National Forest and coastal beaches. The business landscape is heavily influenced by tourism, leading to a competitive market focused mostly on leisure travelers, with the potential for some business traveler interest owing to local events and conferences. The Puerto Rico Tourism Company is the primary government authority overseeing regulations, and recent calls for stricter measures include proposals for a public registry of STRs and considerations to classify them formally as businesses, alongside increasing the room tax to support affordable housing initiatives. For more details, visit the official Puerto Rico Tourism Company website at https://www.discoverpuertorico.com.
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