Cuba Property Hits The Headlines
Category: Real Estate
It had to happen sooner or later.
Evolving or revolving doors, emerging markets and the next big thing all packed into one big Cuba libre.
I've just finished reading up on a host of stories about the emergence of an actual real estate sector in the Caribbean country.
Despite a long-term banishment of all things capitalism, the screws are starting to loosen in Cubra's slow march towards free enterprise.
An article in the New York Times said, "over the past few months the state has reduced paperwork, stocked construction stores and legalized private contractors".
Is this really the beginning?
Late last year a new law now allows Cuban nationals to sell or buy houses. S
Reading more in the press, stories of offshore payments, nominee arrangements and lots of gray areas.
Sounds a bit like Thailand? A vacation and second home market is in the works to, driven but seaside locations.
Though its still early days and prices remain way up high, it would appear Cuba is in the early stages of an island property cycle.