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The new regulation requires that each one real estate transactions be made by means of Cuban financial institution accounts so that they are often higher regulated, and it units a tax fee of 8 p.c of the assessed value - split equally by buyer and seller. At an intersection in central Havana that for decades has served as the city's underground real estate bazaar, folks stated the tax charge appeared affordable within the summary, but it will rely vastly on how authorities find yourself valuing the properties.
After getting his PhD, Saiz was employed in 2003 as an assistant professor on the College of Pennsylvania's Wharton School; in 2012, he joined MIT, where he's the Daniel Rose Affiliate Professor of City Economics and Actual Property. Cross-border property investment by Asians surged to $eight.6 billion in the first quarter, essentially the most lively start to a 12 months since institutions within the region started a major push into abroad actual property in 2013, CBRE Group Inc.
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