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Culebra Island Realty

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Culebra Island Realty
REAL ESTATE & VACATION RENTALS

CONTACT INFORMATION:
Culebra Island Realty LIC #7885
PO BOX 444, CULEBRA, P.R. 00775

For Real Estate contact Jim Galasso:
787-435-6752 - cell
787- 742-0227- office
787-742-3565 - fax
Email: CulebraIslandRealty@att.net

For Vacation Rentals -info & reservations:
Contact Cheryl Galasso: 787-435-6596
email- culebrarentals@att.net

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Culebra is an unusual island in many aspects. It is part of Puerto Rico. Therefore it is part of the United States and with that status there are many benefits to those of us who live and vacation here. Culebra is located 15 miles off the northeast coastal town of Fajardo, Puerto Rico. Unlike many Carribean islands that have over developed in the past 20 years, Culebra has maintained its rural dignity. Indeed there are few places left that can offer the pristine beaches, diving , snorkeling, fishing, and naturalist opportunities such as turtle watching and bird watching. This is an island that has not caught up to the stress, pressures, marketing, materialism, and crime of the 90's.

The island of Culebra presents some fantastic opportunities for your dream of a house in the Caribbean and the realization of growth on your investment. Culebra was zoned in 1974 and is divided into various land zoning requirements for residential-only construction. Over 60% of Culebra is zoned RO-25(25 cuerdas per house). The east half of Culebra is the most popular for property purchases and new construction. This half of the island is zoned in one, five, and 25 cuerda sections. A cuerda is .971 of a acre. It is not possible to subdivide these parcels. So this helps to maintain a distinctive consistency to the value of your property, while maintaining the ecology and environment of the island where deer and ospreys cohabit with us. Most of the available properties are located within a development that has restricted covenants that assure quality residential building and prohibit commercial influences.

The eastern half of Culebra is currently comprised of four community development areas:

1. Northview Estates has forty-one lots varying in size from five to nine acres. It also has a community dock and mooring area. There are currently eighteen completed residences.

2. Southeast Harbor is a community of thirty residential five acre lots. It has a deeded access road to Mosquito Bay Beach. There are sixteen completed homes in this community.

3. Punta del Viento Estates has 24 residential lots of five or more acres each and ten completed homes.

4. Alturas de Zoni is located above the incredible Zoni Beach on the eastern end of Culebra. It contains thirty one acre lots. There are twelve completed homes.

It is important to note from an investment view that these four communities are almost contiguous only being divided in some areas by three RO- 25 zoned areas.

These development areas were larger farm areas that were pre-zoned in 1974 as either one or five acre residential lots. These areas were then developed according to the legal restrictions of Puerto Rico with oversight by Puerto Rico= s Natural Resource Department and U.S. Fish and Wildlife.

All the lots in these residential communities were purchased by first time owners from the original developers. The current market consists of resale of these lots. The price of properties on Culebra is determined by view, breeze, and access to beaches and waterfront. A review of the current land listing sheet will reveal that there is very little vacant land on the market. Because almost all of the existing homes in these communities have been completed within the last few years home resale is very limited.. The value of existing residences varies from approx. $700,000 to $6,000,000

Residential-Commercial Real Estate:

The legitimate Residential- Commercial market on Culebra is extremely limited. Legitimate refers to titled land and appropriate construction. A prospective buyer must realize the zoning on Culebra has severely limited the available land use for housing and commercialization. This same high quality zoning however is what has kept Culebra from being overbuilt and commercialized like so many other Caribbean islands. Please click on the "Listings" for more detailed information.

Beachfront:

Beachfront property is protected from development and practically non-existent . There are four expansive ocean beaches on Culebra. They are Flamenco, Resaca, Brava, and Zoni. Each beach is a mile long, pure sand, and incredibly beautiful. There are two factors that have preserved the pristine beauty of Culebra. They are the zoning regulations as mentioned above and the Leatherback Sea Turtles. The Leatherbacks have used these main ocean beaches of Culebra as their nesting grounds for thousands of years. Because they are on the endanger species list this has stopped the development of beachfront properties from occurring on these beaches. It is what keeps Culebra very special.

Property Taxes:

Property taxes are very affordable on Culebra and in Puerto Rico. A home with a resale value of one million dollars would have property taxes of approx. $2,500. a year.

Builders:

There are at least seven reputable builders on Culebra. The building costs of course vary with the type of construction and finishing. One of the biggest improvements to the cost and alternatives to building has been the establishment of Home Depot in Puerto Rico. You can get anything from Home Depot that you can in the States with a minimum shipping charge.