How Access to Cuba will Help Real Estate in Key West

 

KEY WEST, Fla. - July 25, 2016 - PRLog -- Per Fred Mullins, Top Producing Member of Team Mullins at Coldwell Banker Schmitt in Key West and owner of www.lowerkeys-homes.com,"Access to Cuba will help real estate in Key West in a number of real yet still profound ways. Although Americans are still officially disallowed to visit the island nation for the sole purpose of tourism, there's plenty of wiggle room to be able to travel freely. That access goes both ways in some instances and this unfolding set of circumstances will have a positive impact on real estate in Key West.

How Access to Cuba will Help Real Estate in Key West

Though new, the lifting of the embargo is already showing positive signs. American businesses are planning ahead for potential market share in Cuba and once this begins to happen, Key West will play a central role. As everyone knows, the tiny island nation is just 90 miles away from Key West, a few hours by boat and a very short flight. With practically no barrier in-place, trade will flourish and that bodes well for Key West real estate. Property values will rise and homeowners will enjoy increased real prices from which to profit.

Here are some ways how access to Cuba will help real estate in Key West:

● Attracting more Europeans and other foreign property investors and buyers. For Europeans and other foreign nationals, Cuba isn't off limits and it's a vacation destination. It's also a very short distance from Key West, and as the island nation becomes infused with more trade money, infrastructure improvements will help to modernize Cuba. During the long transition, Key West will be even more of a destination location, increasing tourism and the real estate market will continue to enjoy the positive benefits.

● New cruise ship ports of call going to a from Key West. As relations normalize, cruise ship companies are already planning to include Cuba in their travel itineraries. That also increases trade and puts a positive spotlight on Key West.

● Increased commerce and trade with the island of Cuba. Trade and commerce are remarkable in what can be accomplished. As the two countries trade through goods, services, and tourism, more travel dollars will flow into Key West, bringing more jobs and opportunities, effectively helping the real estate market thrive.

● Few comparable residential real estate properties. Wealthy Europeans already visit Cuba but the residential real estate is quite inadequate and dated, there are no real comparable properties. Since Key West is such a short distance and has a vibrant real estate market, it will become all the more attractive to foreigners wanting a vacation property or even primary residence in the United States.

Fred Mullins, P.A. holds an MBA, B.S., real estate license United States Coast Guard Master Captain's license and commercial pilot's license. With over 20years of cross functional experience in real estate, international asset management and construction management, Fred's experience places him as one of the top real estate professionals in the Florida Keys.For help with Lower Keys Real Estate seehttp://www.lowerkeys-homes.com

Contact
The Mullins Team
***@bellsouth.net