Cuba passed bill allowing buying and selling of houses

On November 3, 2011, the Cuban government announced the passage of a bill modifying its housing law to allow permanent residents of the country to buy and sell their homes at will for the first time since 1959. The law limits property owners to one main home and one vacation home, and the Cuban bank regulates all sales. The law was intended to help boost Cuba's economy, though it was not considered by Raul Castro's administration as a move towards capitalism.


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