The Real Estate Market in Cuba, has just initiated the first steps toward the normalization of the Property Sales and Buying Process. This is the moment, this is the time to get ready and inform yourself on how to buy a home in Cuba. There are a large number of properties for sale in Cuba right now, it is just a matter of knowing the legal procedures, the new regulations, and have the right advisors. Foreign investors, you have now the possibility of buying an apartment or a condo in Havana, you could even buy a house, a beach front property or a parcel of land from Cuban owners if you become a resident. The only you will need is to get informed on the options the Cuban law provides for foreigners willing to acquire a home for sale in the island, and get the guidance of a serious Cuban realtor. This is what we can give you.
If you are Cuban citizen, the process of buying a home is really simple. According new Cuban law on property sales you are entitled to negotiate the buying of any home, with a local Cuban owner. The price is to be set freely between seller and buyer, and each party is due to pay a 4 % tax on the property sale executed in Cuba. The owner must have the home for sale properly registered in the National Registrar Properties Office, and the home buying transaction is to be done though a local bank where the buyer make a deposit, issue a bank cheque on the name of the seller, and both parties pay the 4% tax on the transaction. The home sale in Cuba, according the law, is legally executed before a registered Notary, who issues the legal documents ( home property ) passed from the old owner to the new one, and then the buyer is given 30 days ( after taxes are paid ) to register the acquired home before the National Registrar Office. The currency applicable for the transaction on buying a home in Cuba, a Cuba Real Estate investment or any process of the kind, is the Cuban Peso. Although, it is common that both parties agree to use Cuban Convertible Pesos ( CUC ) to pay for a bought house, even when the sales contract states the operation involves only Cuban Pesos.
For foreign investors willing to invest in Real Estate in Cuba, especially in Havana, certain rules apply. Although the process is a little bit more complicated in this case, foreigners can buy a home for sale in Cuba. If you are not a Cuban citizen and want to learn more about how to buy a house, a condo or an apartment in Cuba