Havana Cuba Real Estate
With a total area of over 42,000 square miles, Cuba is one of the most populous countries in the world, with a population of more than 1.5 million people. Step into the hidden history of Cuba, the country with the largest population and the second largest economy in Latin America.
This particular globalizing landscape, which includes both Cuban migrants and few foreigners, has contributed to Cuba's rapid growth in real estate development and economic development. Although Cubans often lack the means to buy real estate, it is no public secret that their money has played a crucial role in investing in the US and other parts of the world, particularly Latin America. Most Cuban migrants in and around the United States who buy residential property have legal status in Cuba and must trust a local partner to avoid being caught by the Cuban government, which officially does not allow indirect investment by private individuals. Point 2 Cuba understands the complexity of Cuban law and works closely with expert lawyers to ensure proper and legal transfers of real estate.
Foreigners interested in Cuban real estate should be well versed in both Chapter 6 of Article 17 (1) and Article 18 (2).
Browse the latest FSBO real estate listings and forget the "away - away - from - the - city - from - Havana" parking lot at the corner of Ponce de Leon Ave and Rd.
Find a local real estate agent who will put you in touch with a Cuban who is willing to sell you a house or apartment for cash. This may be a bit extreme, but there is no way to buy a home in Cuba from the local property owner. There is a way for foreign investors to buy real estate in Havana, and that is to fly to Havana and buy directly from foreigners who own houses and apartments in Cuba. It is the easiest way to buy a property in Cuban if you are not Cuban or you can even marry your Cuban as a part-time or full-time job in the country.
The US does not allow US citizens to buy Cuban property, but only Cubans living in Cuba can buy property in the country. This is the only way that non-Cuban residents can buy a home and invest in the Cuban real estate market. In most cases, Cuba does not allow foreigners to buy houses, and this situation is similar to that in which Fidel Castro seized foreign properties - owned - to give them pesos.
Fidel Castro also confiscated property that was abroad - which means today that there is a huge amount of foreign property in Cuba that we still have a lot of paperwork to do before the real estate situation can fully normalise.
So there are a lot of factors that need to be addressed before the Cuban real estate market can really open up. The Cuban financial system needs major reform, and the problem of housing in Cuba still needs to be seriously addressed. This promises incredible opportunities, but there will have to be some improvement in the housing market, which is still in diapers, and there is a need for refinement in the financial sector as well.
Nevertheless, people are betting on the future of Cuba's real estate market and are willing to take risks, but not without great risks.
Current legislation regulating real estate on the island prohibits foreigners from buying Cuban citizens' houses and apartments, and current restrictions on foreign investment in Cuba, which may be a complicated matter at the moment. The hope is that Raul Castro's government would sometime in the near future allow non-Cuban Americans to buy real estate outside Cuba without restrictions. Cuban Americans, who have economic and social motives to return to Cuba, are also keen to invest in Cuban housing. The prospect of Cuban real estate has also attracted some adventurous investors from Europe and Latin America, some of whom have married Cubans while investing.
Cuban laws on the purchase of real estate and how to circumvent them, some of which concern investors who have married Cuban women and have begun to live permanently in Cuba. Indeed, there are reports of foreign investors trying to enter Cuba's real estate market, even though the current system has been far from good for them. Cuban laws on the purchase of real estate that does not come from Cuban investors have been circumvented. Some of these projects involved investors who married Cuban women or who had begun to live permanently in Cuba, and others who had not.
It should be remembered that in Cuba you can only own a townhouse or a holiday home and only Cubans or foreign residents can own. You are not expected to have full property rights when you marry a Cuban, even if you are not a citizen. There is no legal obligation to buy any kind of real estate if you buy it from a foreign investor, only from the owner, who only affects Cuban citizens or foreigners.