The real estate boom of 2018: Cuba!
An unprecedented situation is the one that Cuba is witnessing, and in particular its capital. Everyone wants to buy a house in Cuba.
But why?
A state that, thanks to the US embargo, has been blocked for years on a commercial level and on the international political scene, is reborn as never before.
What was the result of this reversal of route?
We need to take a step back and analyze the political scene of the island.
The sale of houses was only allowed in Cuba in 2011, and, from that moment, a new trend was inaugurated. That which allowed the Cuban GDP to reach only 37 billion related to the real estate sector.
Although foreigners are forbidden to buy houses directly, it is known that many investors use mendos that reside in the capital, to complete the purchase.
According to statistical data, about 45,000 homes were sold only in 2012.
Most of the houses belong to those who do not live on the island but who still enjoy permanent residence in the country.
The limited monetary volume to the real estate sector is moving the entire Cuban economy, foretelling broad prospects for change and renewal.
To obtain the opportunity to purchase a house in Cuba, you must therefore get the residence or rely on a nominee.
But it's time to do it now, as the market is flourishing and, over time, a property will gain more value both for its geographical position and for its local beauty.
The cost of most of the houses is less than 30,000 Cuban pesos, but the prices seem destined to increase given the great international interest that the nation is experiencing. A somewhat ambiguous curiosity is worthy of mention.
According to economic research, after the death of Fidel Castro the houses for sale increased further by 61%.
Most of the capital invested belongs to former Cubans who made a fortune abroad or to Americans who want to buy a piece of paradise.
Most requested are the colorful and unique villas, belonging to the years 40-50 and remained such because of the embargo that did not allow the island to modernize.
And it is precisely these wonders that drive investors crazy, looking for all sorts of (sometimes even illegal) tricks to get a home in Havana.
Culture, tradition and colors are giving way to modernity that, hopefully, may not alter the peculiarities that still make this today the object of the desire of many.
But why?
A state that, thanks to the US embargo, has been blocked for years on a commercial level and on the international political scene, is reborn as never before.
What was the result of this reversal of route?
We need to take a step back and analyze the political scene of the island.
The sale of houses was only allowed in Cuba in 2011, and, from that moment, a new trend was inaugurated. That which allowed the Cuban GDP to reach only 37 billion related to the real estate sector.
Although foreigners are forbidden to buy houses directly, it is known that many investors use mendos that reside in the capital, to complete the purchase.
According to statistical data, about 45,000 homes were sold only in 2012.
Most of the houses belong to those who do not live on the island but who still enjoy permanent residence in the country.
The limited monetary volume to the real estate sector is moving the entire Cuban economy, foretelling broad prospects for change and renewal.
To obtain the opportunity to purchase a house in Cuba, you must therefore get the residence or rely on a nominee.
But it's time to do it now, as the market is flourishing and, over time, a property will gain more value both for its geographical position and for its local beauty.
The cost of most of the houses is less than 30,000 Cuban pesos, but the prices seem destined to increase given the great international interest that the nation is experiencing. A somewhat ambiguous curiosity is worthy of mention.
According to economic research, after the death of Fidel Castro the houses for sale increased further by 61%.
Most of the capital invested belongs to former Cubans who made a fortune abroad or to Americans who want to buy a piece of paradise.
Most requested are the colorful and unique villas, belonging to the years 40-50 and remained such because of the embargo that did not allow the island to modernize.
And it is precisely these wonders that drive investors crazy, looking for all sorts of (sometimes even illegal) tricks to get a home in Havana.
Culture, tradition and colors are giving way to modernity that, hopefully, may not alter the peculiarities that still make this today the object of the desire of many.
