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Post Info TOPIC: Cuba to Open Real Estate Market


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Date: Apr 19 15:54:17 2011
Cuba to Open Real Estate Market

Cuba announced this week it will begin allowing people to buy and sell homes on the island nation for the first time since the Communist regime took over in 1959.  For the last 50 years, Cubans have only been permitted to pass their homes down to their children, or to swap them through an often corrupt and very complicated state run system.

The move to open up Cuban real estate was decided by the first congress held by the ruling Communist in 14 years, held with the hope of breathing new life into the communist government.  There were no details offered, however, on how the new property sales system would function.  Cuba's President, Raul Castro, warned that concentration of property would not be allowed under the system.  Castro also said during the congress that top political positions should be limited to two five-year terms, and vowed to deliver systematic rejuvenation of the government.

Castro said that the party's leadership was in desperate need of renewal and should be subject to severe self-criticism.  The proposals are considered unprecedented under Cuba's communist rule.  In an editorial published by state-run media, former president and leader of the 1959 revolution Fidel Castro endorsed the proposed changes, saying that a new generation is needed to fix the mistakes made by former leaders to ensure that the communist system will survive.

The reforms were overwhelmingly passed by officials of the Communist party on Monday.  State media outlets reported that new leaders were voted on at the meeting, but results of those votes have not been disclosed.

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