You may have visited Cuba as a tourist to lap up the seductive ambiance of Havana or to enjoy a Caribbean beach holiday, but now its also possible to own property there.
Homes on the new beachfront Carbonera Club development in the islands resort of Varadero have gone on sale and there is nothing stopping foreigners, bar Americans, from buying there. This represents the first time in 50 years that non nationals can own in Cuba, as Fidel Castros government nationalised all property when itcame to power in 1959.
The Carbonera Club, set to open in 2011, will have 848 holiday homes, a mix of apartments and villas. Facilities will include a PGA championship golf course,beach and yacht club and fivestar marina. To be eligible to purchase on the development, buyers must have membership of the club, which costs 615 a year actor Jude Law and ballerina Darcey Bussell have already reportedly signed up.Available through Savills in the UK, prices for property range from 77,500 to 1,126,666.
Cuba couldbe a good long-term investment, especially if, as expected, the US Obama administration re-establishes Cuba as a trade partner and American tourist destination.
Prices correct at 22nd July 2009