Choosing Between Buying Property in Cuba or Miami: A Cuban Expat Unveils the "Greatest Deception"

A Cuban expat living in Miami, who constructed a house in Cuba four years ago, has ignited discussions on social media with a video in which he concludes that neither option is a profitable investment, albeit for different reasons.

The creator, known as @candysantos_01, began the video by showcasing the property he completed in 2022 in Cuba, clarifying that his goal was not to boast but to caution his audience about what he terms as "the greatest deception" in the real estate market.

His primary argument takes aim at Miami: "Buying a house in the United States is not what I see as a lucrative business," he asserted, explaining that, by his calculations, a property in that city might only yield the owner a net gain of $300 to $400 monthly.

"A house that gives you three hundred dollars or four hundred dollars in profit isn't a profitable business," he emphasized, adding that, in his view, truly recouping the investment requires waiting at least twenty years, with all the uncertainty that entails: "from here to twenty years, you and I don't know where we'll be, whether in Jamaica or beneath the earth."

The Challenges of Property Investment in Miami

According to the creator, for properties in Miami to function as a lucrative business, one would need a large portfolio of homes or enough personal capital to lessen the burden of financing: "you have to either pour a lot of money into properties or do it on a grand scale for a property to yield profits."

He acknowledged knowing people who bought years ago and do see profits, but believes current conditions are far less favorable for new entrants to the market.

Real estate data supports the notion that purchasing a home in Miami requires a significant investment today, though it does not generalize that a property would only net $300 or $400 monthly. According to Redfin, the median sale price of homes in Miami was $649,570 in August 2026, a 2.3% increase from the previous year.

Figures vary significantly by area. In Brickell, one of Miami's most renowned real estate markets, Realtor.com placed the median sale price in August 2026 at $615,000, while median rent was around $3,986 monthly. The median listed price was even higher: $737,450.

Using the $615,000 sale price and $3,986 monthly rent as references, the gross annual rental income would be approximately 7.8% of the property's value. However, this figure does not account for the owner's net profitability, as expenses like property taxes, insurance, homeowners association fees, maintenance, repairs, vacancy periods, management, and, when applicable, mortgage interest must be deducted.

Comparing the Cuban Real Estate Landscape

The situation in Cuba is drastically different, where entry prices can be much lower, but a public real estate statistics system comparable to U.S. databases does not exist, making it risky to speak of an official median for Havana.

As a reference for the listings market, the private real estate portal El Caimán currently reports 238 active properties in Havana and places the median of that inventory at about $18,500. The platform itself warns of significant disparity: small apartments in Centro Habana and Old Havana may be listed between $5,000 and $25,000, while properties in areas like Miramar and Playa can exceed $200,000.

Another analysis by the same platform, based on active inventory and moderated transactions, estimates a median of approximately $48,000 for Havana in 2026. The difference between these measurements highlights the limitations of a market without standardized public statistics on effective sale prices.

Additional risks include the physical condition of many properties, potential documentation or inheritance issues, and a legal framework vastly different from the U.S., requiring careful review of ownership before any transaction.

Legal and Economic Considerations for Cuban Expats

The Cuban regime took a step in 2026 to facilitate the economic participation of emigrants. Decree-Law 117/2026, approved on April 15 and published in the Official Gazette on May 5, 2026, established the "Investors and Business" migration status for Cuban citizens residing abroad who wish to participate in the island's economic model.

The law was part of a package that also included Decree 150/2026, which set the procedure for granting this migration status. CiberCuba reported on the enactment of these provisions for Cuban investors residing abroad.

In Florida, there is also another legal element that may affect certain buyers connected to Cuba. Legislation originally approved via SB 264 designates Cuba as one of the "foreign countries of concern" and restricts certain "foreign principals" from acquiring properties within a 10-mile radius of military installations or critical infrastructure.

According to the Florida Statutes of 2026, the applicable definition for natural persons includes those domiciled in one of these countries who are neither U.S. citizens nor legal permanent residents. The law has certain exceptions, such as the possibility of purchasing a residential property of up to two acres under specific migration and location requirements. A decision by the Eleventh Circuit allowed the restrictions to remain in effect, as reported by CiberCuba in November 2025.

The debate over buying property in Miami is not new among Cubans. Other residents have shared experiences ranging from hidden structural damages and $5,000 monthly mortgages to cases of homes purchased at much lower prices in Cuba.

There are also examples at the opposite extreme. The creator Flor de Cuba completed the purchase of a house valued at around one million dollars in Miami in March 2026, financed with revenues generated by her social media activity.

The testimony of @candysantos_01 once again raises a common question among Cuban expats: is it more advantageous to invest large amounts of capital in a U.S. home, or to seize the much lower prices available in Cuba, accepting in return vastly different legal, economic, and liquidity risks?