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Cuba to open the transaction for house property up

Cuba to open the transaction for house property up

After Castro’s communist revolution has been proceeding for 52 years, Cuban obtain the right to purchase and sell the house property for first time. Although these shabby houses are distributed by Communist Party ruled Cuba, this action is a symbol with the real estate industry will come back again.
Revolutionary Committee just passed the series of newest bills for Castro Ruz, it will allow Cuba’s people and permanent resident to transact their house property. According to Granma, it reported that Cuba’s people could own the house even second one.
Cuba has been implementing socialism for five decades; people only can exploit a legal loophole to exchange house by the labor service. However, Communist Party distributed people the house including the big hair house of former landowners and the real estates of the fugitives has become the risky houses result in Castro’s government to make the important decision for market liberalization.


Updated : 2021-04-12 10:04 GMT+08:00