| Cuba has created a private market for housing. Effective November 10, Cubans will have the right to buy and sell their homes at prices they set. While the government will collect a modest 4 percent tax at both ends of the transaction, this economic reform will have ripple effects for Cuban families and the Cuban economy that are far-reaching, irreversible, and real.
The easing of restrictions on property ownership is likely to reshape Cuban cities, spur real estate development and speed renovation of Cuba's picturesque but dilapidated housing stock...............................................Full Article: Source
|