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The brand new legislation requires that all real estate transactions be made by means of Cuban financial institution accounts in order that they can be better regulated, and it units a tax charge of 8 % of the assessed value - break up equally by buyer and seller. At an intersection in central Havana that for many years has served as the town's underground real estate bazaar, people said the tax fee appeared affordable within the abstract, however it is going to rely significantly on how authorities find yourself valuing the properties.
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After getting his PhD, Saiz was hired in 2003 as an assistant professor on the College of Pennsylvania's Wharton Faculty; in 2012, he joined MIT, the place he is the Daniel Rose Affiliate Professor of Urban Economics and Actual Property. Cross-border property investment by Asians surged to $8.6 billion within the first quarter, the most active begin to a yr since establishments in the area started a serious push into overseas real property in 2013, CBRE Group Inc.
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