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Sify Home >> Finance >> Others >> Cuba's unique housing story awaits liberating end

Cuba's unique housing story awaits liberating end

Cuba
Breaking the law

Each morning before the sun rises too high, Cubans gather at a shaded corner in central Havana, mingling as though at a cocktail party. Icebreaker is always the same: "What are you offering?"

This is Cuba's informal real-estate bazaar, where a chronic housing shortage brings everyone from newlyweds to retirees together to strike deals that often involve thousands of dollars in under-the-table payments.

They're breaking not just the law but communist doctrine by trading and profiting in property, and now their government is about to get in on the action.

President Raul Castro has pledged to legalise the purchase and sale of homes by the end of the year, bringing this informal market out of the shadows as part of an economic reform package under which Cuba is already letting islanders go into business for themselves in 178 designated activities, as restaurateurs, wedding planners, plumbers, carpenters.

Image: In this July 14, 2011 photo, children play soccer in front the "Maine" building in Havana.

Text: Peter Orsi, AP

AP Images (Any unauthorised reproduction is strictly prohibited)




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