Cuba

With Fidel hanging up the reins in Cuba it looks like a seemingly more moderate Raul will take up the helm. Indications suggest he is interested in what has been dubbed "Chinese styled Communism" , which for all concerned is an opening of free markets and the opportunity to buy up some property. With this train of thought in mind I will be getting my funds on standby for a major sink into Cuba, in particular tourist hotspots like Habana and Cienfuegos. Anybody else excited about this development although I know it is a long time off..

You will first have to fight off the thousands of Miami based Cubans returning with pockets of cash. Add to that the probability of years of court battle over legal title to land.

I think Cuba is potentially very exciting. There is definitely huge up side here. I would see returning ex-pats coming home with money as a very positive thing. But the big question remains: who exactly are you going to buy from? Establishing legal title of existing property and even obtaining land and permissions for new-builds is more than likely going to be a huge mess.

Regarding the Polish experience (chenge of property law in 1989) it may take more than 20 years before any property would bring a profit. Thought about Cuba though.