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New law allows Cubans to buy and sell real estate

Alejandro Ernesto / EPA

A newspaper salesman holds a copy of the latest 'Granma' edition on Nov. 3, 2011, which announces the Cuban government's approval for individuals to be able to buy and sell homes legally for the first time since the revolution.

Franklin Reyes / AP

Nilda Bouzo, right, speaks with her husband Ives Lopez next to a sign that reads in Spanish " Exchange Apartment Two for One" in their home balcony in Havana, Cuba, Nov. 3, 2011. Property exchanges and signs such as the one in the picture were already legal in Cuba.

AP reports:

HAVANA —The highly anticipated new rules instantly transform islanders' cramped, dilapidated homes into potential liquid assets in the most significant reform yet adopted by President Raul Castro since he took over the communist country from his brother in 2008.

But plenty of restrictions remain. Read the full story.