09 January 2012

CUBA : After Ban Lift...Housing Market Is On Fire.

                                       REUTERS / M.FRANK

     For 5 decades...it was illegal to buy or sell homes...except thru a slow and difficult process callled 'permuta'.
    No more.
    Since a ban was lifted in November...the isla grande is alive with 'for sale' signs.
    It may be President Raul Castro's most popular reform yet.
    Asking prices vary from a few thousand dollars...to 6 figures.
  "Most of the houses sold are (being bought) with the help of family abroad, if not it wouldn't be possible because their value is going up a lot now," said a Cuban.
    Most Cubans earn about $20 per month.