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Cuba legalises sale, purchase of private property
Friday, November 04, 2011
HAVANA, Cuba (AP) — Cuba announced yesterday it will allow real estate to be bought and sold for the first time since the early days of the revolution, the most important reform yet in a series of free-market changes under President Raul Castro.
The law, which takes effect November 10, applies to citizens living in Cuba and permanent residents only, according to a red-letter headline on the front page of yesterday's Communist Party daily Granma and details published in the Government's Official Gazette.
The law limits Cubans to owning one home in the city and another in the country, an effort to prevent the accumulation of large real estate holdings. It requires that all real estate transactions be made through Cuban bank accounts so that they can be better regulated, and says the transactions will be subject to bank commissions.
Read more: http://www.jamaicaobserver.com/news/...#ixzz1cj5Ygzq0
Cuba legalises sale, purchase of private property
Friday, November 04, 2011
HAVANA, Cuba (AP) — Cuba announced yesterday it will allow real estate to be bought and sold for the first time since the early days of the revolution, the most important reform yet in a series of free-market changes under President Raul Castro.
The law, which takes effect November 10, applies to citizens living in Cuba and permanent residents only, according to a red-letter headline on the front page of yesterday's Communist Party daily Granma and details published in the Government's Official Gazette.
The law limits Cubans to owning one home in the city and another in the country, an effort to prevent the accumulation of large real estate holdings. It requires that all real estate transactions be made through Cuban bank accounts so that they can be better regulated, and says the transactions will be subject to bank commissions.
Read more: http://www.jamaicaobserver.com/news/...#ixzz1cj5Ygzq0
