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The new regulation requires that every one real property transactions be made by way of Cuban financial institution accounts so that they can be better regulated, and it sets a tax charge of 8 p.c of the assessed worth - split equally by purchaser and seller. At an intersection in central Havana that for decades has served as the city's underground [real property](https://www.answers.com/search?q=real%20property) bazaar, people mentioned the tax price seemed reasonable in the abstract, however it should rely significantly on how authorities find yourself valuing the properties. |
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After getting his PhD, Saiz was employed in 2003 as an assistant professor on the College of Pennsylvania's Wharton College; in 2012, he joined MIT, the place he's the Daniel Rose Associate Professor of Urban Economics and Actual Property. Cross-border property investment by Asians surged to $eight.6 billion in the first quarter, essentially the most energetic begin to a 12 months since institutions within the area started a major push into abroad actual property in 2013, CBRE Group Inc. |
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