Havana Real Estate

Havana Real Estate

The Cuban capital Havana has rapidly become an attractive location for real estate buyers looking for investment opportunities.

For the longest time, the Cuban government wad opposed to international investment. However, it has recently become far easier for international buyers to invest in real estate within the capital.

In 2011, the Cuban government permitted real estate transactions to take place between local homeowners, which led to an influx of purchases by foreign residents already living in Cuba. Then in 2014, the Cuban Foreign Investment act opened up further options for international buyers looking to purchase real estate within Havana. With these acts in place, Havana has quickly become a very attractive investment opportunity for buyers from a number of countries, as well as prompting retirees to explore the local real estate market.

Purchasing real estate has certainly become an interesting opportunity for investors, however, it is not yet as simple as investors would like. There are currently two options for private non-resident investors. Total ownership is only possible through a foreign capital Cuban company, whereas part ownership is possible through a partnership with Cuban nationals. Even with these limitations in place, title deeds are regularly being issued for foreign ownership of real estate in Havana, and an increasingly buoyant market is being created for both buyers and sellers.

Real estate is available for either residential or commercial use, however, the latter requiring a relation to tourism in some way. Temporary resident’s visa is available to international investors who abide by such criteria and is renewable on a yearly basis. With the continual easing of limitations against international investors, Havana is rapidly rising as a desirable location for retirees looking to settle in the island’s capital.