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| Havana Cuba Mansion Sold for $1Million USD |
Real Estate In Cuba More Expensive than Miami?
Miami residents report that it cost more to buy a good house in Havana Cuba than to buy a house in Miami Florida. After 50 years of pent up demand for Cuban Real estate the market is finally starting to take off with super high prices, lots of buyers and very few sellers.Miami Cuban Americans report that since late 2011, when General Raul Castro decided to legalize the purchase and sale of houses between residents of Cuba to rich foreigners who have permanent residence status in Cuba, Raul has been opened in a flood of real estate opportunities that would have been unimaginable in the past 50 years under the Cuban revolution of Fidel Castro.
Cuba is now booming in terms of tourism, American, Cuban American and U.S. tourism is growing exponentially, thanks in part to Barack Obama's decision to allow flights to and from Cuba. The boom is also in real estate due to 50 years of pent up demand in real estate.
The resale prices reflect the wide scope of the Cuban real estate for sale such as luxurious colonial-style villas in the most affluent neighborhoods of Havana, the capital, are sold at higher prices than similar properties in Miami, Florida. There is even talk of a million dollars for some mansions in Havana.
The fact is that the true name of the new owner will not be the one who actually pays for the property, but the Cuban resident who gives face to the transaction. A new breed of Cuban real estate brokers, though still illegal in Cuba, are flourishing on the Internet, and are allowed to operate by the Cuban government.
Illegal Cuban estate agents nicknamed "runners" can be found in the Cuban streets near Paseo del Prado of Havana . The Cuban real estate market is exploding here in Havana. The reason the Cuban real estate market is booming is the flood of new money coming from Cuban American families in Miami, New York, Las Vegas, Canada & Europe to Cuba.
The real buyers, in most cases, are Florida Cubans who migrated to Miami in the Fifty years after Fidel Castro revolution and thanks to new laws are buying back into the Cuban real estate market in their island paradise because most Cuban emigrants dream of eventually returning to their country of origin to enjoy their family, country & their roots even if only for a short holiday or a year.
One of the best Internet websites to buy Cuban Real estate is Revolico. Its the best places to hunt for a house in Cuba, provided you have cash, a purchaser or at least a local fictitious permanent residence on the island, are commonly advertised in Revolico real estate pages.
Examples of Cuban real estate for sale in Revelico are listed like this: Large house near Havana with garden, terrace, sea view, living room, four bedrooms and three bathrooms, officially sold for over $500,000 USD a cool half a million dollars. Revolico also offers some luxury residences in the neighborhoods of Miramar, Vedado and Varadero easily exceed one million USD.
Maybe now is the time to Send Money to Cuba to Buy Cuban Real Estate?
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