Property for sale in Cuba

1/ Capital: Havana

Is the capital city, major port, and leading commercial center of Cuba. The city is one of the 14 Cuban provinces. The city/province has 2.1 million inhabitants, and the urban area over 2.6 million, making Havana the largest city in both Cuba and the Caribbean region. Get more information on property for sale in Havana

2/ Country: Cuba

Consists of the island of Cuba (the largest and second-most populous island of the Greater Antilles), Isla de la Juventud and several adjacent small islands. Cuba is located in the northern Caribbean at the confluence of the Caribbean Sea, the Gulf of Mexico and the Atlantic Ocean. Cuba is south of the eastern United States and The Bahamas, west of the Turks and Caicos Islands and Haiti and east of Mexico.

3/ Property for sale in Cuba

In 1995 Cuba began to open up to the real state business, for which the country has exceptional features: geographical location, climate, increasing foreign investments and wonderful lands.
In Cuba, tourism in the sunny and exotic sea property Cuba achieved a great development during the 90s. Despite the prevailing difficulties, this sector was the only one that exhibited the annual growth rate of nearly 20 per cent.

This development in the industry of tourism brought about evolution in many other areas. It’s condition as pillar of the island’s economy was shared with a boosting of foreign inversion and a reorientation towards foreign commerce.

There are plenty of reasons why property is cheap in Cuba. It is still a Communist country, for a start – and as such, the laws on private property ownership are complicated. Cubans are allowed to own their own property and most do. But they are not allowed to buy or sell property. They can only 'swap' – although money usually unofficially changes hands in these deals. As for foreigners, they are allowed to buy property for sale in the new developments, but as yet only 75-year leases will be sold, rather than freeholds. The developers insist property rights are safe, but in a country like this, which is undergoing big changes, laws can easily change.

Another problem with sourcing a property for sale in Cuba and then owning it is who is going to buy it from you when you want to cash in? The developments are being marketed at Europeans and Canadians, but with the era of cheap flights under threat, the country's isolation could put off investors.

Developers are also hoping to appeal to Americans, says The Sunday Times. But with US law banning citizens from traveling to Cuba, or buying property there, it is hard to believe many Americans are going to go to the trouble of circumnavigating the law when they can buy elsewhere with far less hassle.