A colonial-style apartment situated in the heart of Old Havana's historical district is now on the market for $230,000, according to a post by the Instagram account Vedado y Más (@vedado_y_mas). This offering has sparked mixed reactions due to the high price of the property, which starkly contrasts with the widespread deterioration of the area.
Described as a "gem," this property stands out amidst the urban decline of the municipality. It boasts well-preserved colonial architecture, retaining original details and offering direct views of Plaza Vieja, one of the most photographed spots in the Cuban capital.
The listing highlights that the apartment comes fully furnished and equipped, featuring:
- Living-dining room
- Fully equipped kitchen
- Two bedrooms
- Two bathrooms
- Storage room
- Interior hallway
- Service patio
- Access to a large upper terrace
Promoted as perfect for both living and investing, the apartment's prime location in one of Havana's most iconic and tourist-heavy areas adds to its appeal. Yet, the surrounding urban landscape raises valid concerns regarding the true worth of such an investment.
Is It a Gem or a Gamble?
Despite the area's tourist allure, the everyday reality of Old Havana presents significant challenges. Much of the nearby urban environment is in a state of advanced decay, with numerous buildings at risk of collapse.
Furthermore, the neighborhood can become inhospitable after dark due to poor lighting, lack of basic services, and safety concerns. Finding a safe spot to park a vehicle is also problematic, adding another hurdle for potential residents or renters of such properties.
In a real estate market characterized by a scarcity of listings, the high prices in Old Havana do not align with the actual conditions of the area. This raises the question: Is this property a genuine investment or merely an illusion for tourists unaware of the city's urban realities?
Understanding Real Estate Investments in Old Havana
What makes this apartment in Old Havana a desirable purchase?
The apartment's colonial charm, complete furnishings, and prime location with views of Plaza Vieja make it attractive for both living and investment purposes.
What are the potential risks of investing in Old Havana real estate?
The risks include the surrounding area's advanced urban decay, safety concerns, lack of basic services, and difficulties in parking, which could impact the property's value and livability.