Amid the ongoing economic crisis in Cuba, characterized by food shortages, transportation issues, housing problems, and massive emigration, two mansions in Havana have entered the real estate market at prices accessible to only a very select group of potential buyers. These two residences, located in the municipalities of Plaza de la Revolución and Playa, are being offered for $800,000 and $600,000 respectively. These figures are unattainable for the vast majority of Cuban workers, both on the island and in exile.
High Price for Living in Nuevo Vedado
The first of these properties is situated in the exclusive neighborhood of Nuevo Vedado and was built in 1957, a remarkable decade for architecture in Cuba. Offering a blend of elegance and functionality that few can match, this two-story house is priced at $800,000 USD. It features a total of 9 bedrooms and 7 full bathrooms, making it ideal for a large family or someone with the entrepreneurial vision and resources to convert it into a hostel.
The property includes three fully equipped kitchens, two garages, and additional space to park up to 6 cars. Additionally, it boasts a spacious garden and a charming terrace, perfect for enjoying Havana's tropical climate. Despite its excellent structural condition, new owners will need to invest in minor renovations like painting, but it is move-in ready.
An Elegant Residence in Playa
The second property, valued at $600,000 USD, is located in the municipality of Playa, an area known for its tranquility and proximity to important health centers and shops. Built in 1959, this house covers more than 1,200 square meters and consists of two floors and a basement. Some modifications, such as aluminum carpentry, detract from its original design but it remains in perfect living condition.
On the ground floor, the residence includes a garden, foyer, living room, covered terrace, family room, dining room, kitchen, service patio, and two bathrooms. The second floor houses 3 bedrooms, 3 bathrooms, a hall, and an uncovered terrace that offers a perfect space for outdoor relaxation. The basement features a dining room, kitchen, 2 bedrooms, a bathroom, and a service patio, making it ideal for an extended family or those who wish to have an independent space within the property.
Externally, the house includes 4 utility rooms, a bathroom, a covered terrace, and garages. Additionally, the property features an independent apartment with a living room, kitchen, dining room, two bedrooms, and a bathroom, which could be used for guests or as an additional income source if rented out.
Despite their undeniable allure, these luxurious properties are beyond the reach of most Cubans, whose average monthly salary does not exceed $20. Even for those who have emigrated in search of better opportunities, the prospect of purchasing such homes in Cuba to gift to their families remains a distant dream.
FAQs on Purchasing High-End Real Estate in Cuba
Given the current economic situation in Cuba and the high prices of luxury properties, potential buyers may have several questions. Here are some frequently asked questions and their answers.
Why are luxury properties in Cuba so expensive?
Luxury properties in Cuba are expensive due to their exclusive locations, historical value, and the high cost of construction materials and labor.
Who can afford these high-end homes in Cuba?
Only a very select group of individuals, often those with substantial financial resources or foreign investors, can afford these high-end homes.
Are there any restrictions on purchasing property in Cuba?
Yes, there are several legal restrictions and bureaucratic hurdles for both locals and foreigners looking to purchase property in Cuba.