Now is the time to buy a house in Cuba
For many years, especially during the 1990s, Cuban laws allowed construction of buildings where foreigners could buy apartments. People who bought the apartments during that time are now in position to sell them to people who are not residents of Cuba. Real estate in Cuba forms a different market with a current price that is significantly higher. The high prices in Cuba is linked to the scarcity premium and perceived benefits of residing in the country. It is now possible for foreign investors to buy properties from current foreigners owning them directly. There is also an established Visa category called Real Estate Resident that is listed along other visa types that can be applied by incoming foreign investors. Now is the time for you to invest in the emerging real estate market in the Caribbean.
Cuba has now opened its doors to property and real estate investment through the approval of new immigrations laws that grant residency to property lessees and other foreign owners in the country. The revised immigration laws now make it easy for foreigners who own real estate or those with long-term property rentals in Cuba to be eligible for one year visa renewal for each extra year. Foreign investors can buy property in Cuba through the following three ways:
Buying property directly from foreign owners of homes or apartments is easy. During the 1990s, the government of Cuba allowed the building of condominiums with apartments that could be sold to foreign investors. People who build or bought the properties during that time are not permitted to sell to those other people who are not residents of Cuba. This is opening up Cuba to foreigners who may not have family ties to invest in the real estate market.
Marriage to a Cuban gives an opportunity to foreign citizens to be permanent residents and the law automatically allows them to buy homes from local owners.
You can also buy a property using the name of family members, Cuban spouses and friends. By Cuban laws, the remaining market share is open to Cubans residing locally or abroad. Most of the foreigners of Cuban emigrants who live abroad are allowed to buy properties using the names of their friends or family members.
Now is the time for you to explore the real estate market in Cuba. After several years of nationalization and socialist economy spearheaded by Fidel Castro, Cuba is now slowly opening to the world and most of the foreign investors are now putting an eye in the marvelous island that is expected to be the real estate hub for the Americas. Properties for sale in Havana, homes for sale in Cuba and real estate investment in Havana are now the trending topic in the country and an emerging great market. For potential home owners, investors and home sellers, now is the time for you to grasp the opportunity and buy yourself a property.
The property market in Cuba is just adopting first steps of normalization of the real estate market. The buying and selling process is at its peak. Now is the time to get ready and buy a home in Cuba when prices are still low. There are many properties for sale now in the country and all you need to know is the new regulations, legal procedures and getting the right advisers. The only requirement for foreign investors or potential foreign owners is to understand how the law provides for foreigners who will to acquire property. On the beautiful Cuba Island, real estate market is expected to grow exponentially.
Coming soon: Properties for sale in Cuba