Investing in Cuba: Opportunities and challenges
Cuba is the last, great frontier market for real estate investors. This Pennsylvania-size island of 11.2 million people, with 2,320 miles of coastline and more than 1,000 largely undeveloped beaches, offers unprecedented value-creation opportunities and returns on investment.
Since December 2014, major, indeed historic, changes have transpired in the diplomatic and commercial relationships between the United States and Cuba. Rapprochement between the two countries is progressive, and the Obama administration has restored diplomatic relations and liberalized trade, travel, banking and other regulations, with further such positive changes expected after the U.S. elections, regardless of which candidate wins the White House.
President Raul Castro’s government also has made significant changes. A reasonably robust foreign investment law has been enacted, real estate can now be freely bought and sold by ordinary Cubans, and small and medium-size private-sector businesses