Recent liberalization of the country's property ownership rules by President Raul Castro have unleashed decades of pent-up demand for real estate and construction in Cuba, reports Victoria Burnett.
The relaxing of property ownership and construction regulations are seen as an attempt to get capital flowing, according to Burnett. "During the past two months the state has reduced paperwork, stocked construction stores, legalized private contractors and begun offering homeowners subsidies and credits."
And residents are jumping on the opportunity to renovate and invest in properties. One result, according to Burnett, is that "Many sellers plan to downsize, so they can live better or leave.
"Victoria Pérez, a retired doctor, put her spacious house and two-bedroom annex on sale last month for $80,000. She hopes to buy something smaller and put aside about $20,000 to live on and visit her daughter in the United States. 'To earn $20,000 would take 20 years,' she said. 'This opens up a whole world of opportunities.'"
FULL STORY: Cuba Unleashes the Pent-Up Energy of Real Estate Dreams
Maui Condo Sales Drop as County Weighs Short-Term Rental Regulations
A proposed county bill would phase out some 7,000 short-term rental units.
The Challenges of Building Middle-Income Housing
An affordable housing developer explains the hurdles to building more housing for middle-income households.
How Smart Cities Influence Real Estate Investment
By integrating technology and infrastructure, smart cities are attracting investors with their potential for improved quality of life, efficient resource management, and innovative urban development projects.
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
NYC Officials Announce Broadway Pedestrianization Project
Two blocks of the marquee street will become mostly car-free public spaces.
The City of Broken Sidewalks
Can Los Angeles fix 4,000 miles of broken sidewalks before the city hosts the 2028 Olympic Games?
Tall Vehicles: Unsafe at Any Speed
Vehicles with taller front-end designs are more likely to injure pedestrians even when traveling at lower speeds.
Commentary: Minimum Lot Sizes Drive Up Housing Costs
How making residential building requirements more flexible can ease the housing crisis and make neighborhoods more livable for more households.
Study: Automobile Dependency Reduces Life Satisfaction
Automobile dependency has negative implications for wellbeing. This academic study finds that relying on a car for more than 50 percent of out-of-home travel is associated with significant reductions in life satisfaction.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Alamo Area Metropolitan Planning Organization
Village of Glen Ellyn
City of Laramie
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners