Miami real estate news and information

Miami to Cuba … Real Estate Market … Legal to Purchase Homes in Cuba?

Cuba now  has a real estate market?  According to a November 14 article in FloridaRealtors.org – Property sales  became legal in Cuba as of November 10,2011… for the first time in decades.

A sign of economic reform and opportunity?    According to that article the window is open for real estate purchases in Cuba  (although apparently  limited to  those  already residing within it’s boundaries). 

Foreigners  cannot purchase property in Cuba … at least not yet… 

And Cubans  wishing  to do so must pay in cash,  documenting that funding with a paper trail …  And with the country still under socialist regime …and Castro still in power …   investing in Cuba may  prove somewhat  problematic. 

Many are hesitant to invest in Cuba… given the current economic and political situation.   But not only that.   There’s also the fact that 

1) Government salaries pay about $20 a month in Cuba  and

2)  Home prices  range from 

      a)  $11,000 for a 2 bedroom apartment in Havana’s Nuevo Vedado District to 

      b)  Hundreds of thousands of dollars (&  upward of a million dollars)  in the Veradero area.

 I see  real estate opportunity in Cuba  as being a bit farther down the road still.   

MiamiRealEstateCafe.com  … Whether you are interested in investing in Cuba or Miami … or elsewhere internationally …  call Alexandra and Vicki Restivo at EWM Realtors 305 793-1365.   e-mail:  [email protected]     

 

 

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