Cuba Real Estate
Due to continual efforts by the USA and Cuban government, foreign investment into Cuban real estate is rapidly becoming a simpler, more appealing process. Smart investors have noticed this trend and are looking past the relatively complicated system, resulting in Cuban real estate selling faster to investors and retirees looking to settle on the Island.
The lifting of a long-standing embargo by the USA has greatly simplified the process of purchasing real estate on Cuban soil. It is still early days, but there is a rapidly developing real estate boom emerging across the Cuban property market. This boom is spearheaded by wise investors looking for the next big property location and retirees interested in settling in Cuba, especially in the island capital of Havana.
In response to the increase in retiree activity inside Cuba, the government has introduced a temporary residence visa, which is available to those abiding by Cuban property law and is renewable after a year. The introduction of this visa in combination with acts such as the 2014 Cuban Investment act is resulting in an easier method through which foreign investors are able to purchase Cuban real estate.
Current regulations allow foreign investment for personal or commercial purposes, with the latter requiring a relation to tourism in some form. Consequently, foreign investors are rapidly purchasing hotels, holiday apartments and investing in other business opportunities catering to an international audience.
It seems inevitable that Cuba will continue to rise as a prime real estate location and a profitable investment option with considerable returns likely in the next few years as international visitors flow into Cuba looking for places to stay, eat and drink.