Reaching out to EOM readers: do any of you have recent stories about trying to buy (or families trying to sell) real estate in Cuba?
3 comments:
Anonymous
said...
The U.S. trade embargo is still in place and has many different restrictions. There is a limit of funds a U.S. based individual can send yearly to their island based relatives. Still, the flow of U.S. dollars to the island has been going on for years. An example of such acquisition of U.S. dollars by Cuban nationals was recently seen in the new Discovery Channel show Cuban Chrome were a Havana based mechanic dished out $9k for a dilapidated 1957 Chevy Bel Aire. Purchasing anything valuable, specifically real estate in Cuba is very risky since the state owns the homes, cars, etc. I would not venture to purchase anything in a totalitarian country where citizens have no guarantees and foreign American investors are viewed with disdain. Until political conditions in the island change and consumers are offered protection as we do here in the U.S. I would caution anyone to refrain from purchasing any real estate in Cuba.
3 comments:
The U.S. trade embargo is still in place and has many different restrictions. There is a limit of funds a U.S. based individual can send yearly to their island based relatives. Still, the flow of U.S. dollars to the island has been going on for years. An example of such acquisition of U.S. dollars by Cuban nationals was recently seen in the new Discovery Channel show Cuban Chrome were a Havana based mechanic dished out $9k for a dilapidated 1957 Chevy Bel Aire. Purchasing anything valuable, specifically real estate in Cuba is very risky since the state owns the homes, cars, etc. I would not venture to purchase anything in a totalitarian country where citizens have no guarantees and foreign American investors are viewed with disdain. Until political conditions in the island change and consumers are offered protection as we do here in the U.S. I would caution anyone to refrain from purchasing any real estate in Cuba.
Totally agree with last comment; buyers beware.
Enter Cuba in real estate search on Miami's Craigslist and watch all the listings with Miami phone numbers:
Jul 27 Apto Cuba For Sale $65000 (Cuba, Nuevo Vedado) http://miami.craigslist.org/mdc/reo/5144162741.html
Jul 27 big house in havana cuba $120000 / 4br - (miramar)
http://miami.craigslist.org/mdc/reo/5143621965.html
Jul 21 Casa en Las Tunas Cuba $25,000 4br - (La Victoria)
http://miami.craigslist.org/mdc/reo/5112292593.html
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