Investors (and non-Cubans) Not Wanted

When Cuba legalizes buying and selling homes by end of the year — as the government promised again this week — [observers] expect a cascade of changes:   higher prices, mass relocation, property taxes and a flood of money from Cubans in the United States and around the world.

–Damien Cave, “Cubans Set for Big Change:  Right to Buy Homes“; The New York Times 8/2/2011)

Lots of Minnesotans own second homes in — or retire to — places like Scottsdale, Palm Springs, and the West coast of Florida (Fort Myers, Sarasota, etc.).

So — at least for the more adventuresome — why not Cuba, once it resumes privately owned property by the end of this year?

Because they won’t be eligible.

For now, at least, the Cuban government is restricting ownership to Cuban citizens who will also be owner-occupants.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply