Foreign funds help drive Cuba's real estate market

05/15/2013 | National Public Radio

There has been significant activity in Cuba's real estate market since private home sales were legalized on the island in 2011, but problems remain. The country lacks a practical mortgage system, real-estate brokers cannot yet operate legally and many residents don't have the necessary funds to purchase homes. Foreigners -- including Cuban exiles in Florida -- have injected money into the market, conducting transactions through intermediaries because only permanent residents can legally buy property in the country.

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