HAVANA WEATHER

The Rich Are Also Fleeing Cuba, Selling Their Properties at a Discount

the-rich-are-also-fleeing-cuba,-selling-their-properties-at-a-discount

Even some of the gigantic mansions in Siboney confiscated by the Revolution are for sale.

The island’s residential real estate market is saturated due to a mass exodus that is bleeding the country dry / Houses and Apartments for Sale in Havana

14ymedio bigger14ymedio, Natalia López Moya/Juan Diego Rodríguez, Havana, 3 April 2024 — Juan Carlos divides his time between Milan and Havana. The 52-year-old’s children, wife and parents all live in Italy but, for more than two years, he has been trying to sell an old mansion in Havana’s Vedado district which has caused him “more headaches than happiness.” Located a few yards from Línea Street, the house was a project that fulfilled a life-long dream that, as he puts it, “blossomed then failed.”

In the late 1990s, Juan Carlos received a scholarship to study art at an Italian university. When he left José Martí International Airport, he knew there was no going back and that he had to make a life for himself outside the island. “I had always lived with my parents and my sisters in a small apartment, so from a very young age my dream was to have my own home, one that was spacious, bright and had an area I could use as my studio.”

Ultimately, Juan Carlos married an Italian woman and, in 2014, began the process of repatriating to Cuba. He had lost his residency status after not visiting his country for several years. “There was a lot of excitement and several of my artist and designer friends were part of a wave of people getting Cuban identity cards again.”

One of the benefits of having Cuban residency is the ability to buy a house. “At the time, my wife and I were making good money. Her father had also died and left her a sizable inheritance so we decided to buy the place in Vedado. It was my life-long dream and I was finally able to make it come true.”

One of the benefits of having Cuban residency is the ability to buy a house. “It was my life-long dream and I was finally able to make it come true.”

One of the benefits of having Cuban residence is the ability to buy a house. “At the time, my wife and I were making good money. Her father had also died and left her a sizable inheritance so we decided to buy the place in Vedado. It was my life-long dream and I was finally able to make it come true.”

Juan Carlos reports that it cost almost as much to repair the house as it did to buy it. Other problems cropped up once constrution was underway: rusted beams, dampness in the walls, issues with the concrete. They even had to redo some of the column capitals. “They started coming apart as we were painting them.”

The process was long and costly. “I had to go to Cuba five times a year so, in addition to construction expenses, there was the cost of airline tickets. It seemed like the house was eating money. Every month we spent thousands of dollars to restore and maintain it. We had to hire two custodians to make sure our building materials weren’t stolen.”

Finally, in April 2022, six years after buying the house, the work was done.

Apartments are also for sale in Havana’s legendary Focsa Building, one of the city’s most stylish when it was completed in 1956 / 14ymedio

Juan Carlos describes it as

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