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For the first time in 50 years, Cubans will soon be able to buy or sell a house. The New York Times reports...

“Cuba announced a new property law Thursday that will allow citizens and permanent residents to buy and sell real estate — the most significant market reform yet approved by the government of Raúl Castro, and one that will likely reshape Cuba’s cities and conceptions of class."

The ban on property sales was enacted by Fidel Castro in 1959. The BBC explains, before that :

“Parents were able to pass property on to their children, but buying and selling property was not allowed. The rules have meant that for decades Cubans could only exchange property through complicated barter arrangements, or through even murkier black-market deals, often involving illegal payments and bribes.”

Because of Cuba’s severe housing shortage, living conditions -- for many -- are dire. HDNet reports: 

“In his 49 years living years, Ermando’s single room appartment, like buildings all over in Cuba, has begun to crumble. The country has developed huge housing problems with multiple generation of families crammed together, with nowhere else to go.”

The new rule - which will come to effect on November 10 - is part of a bigger plan of reforms adopted in last spring by the Communist Party. In October, Cuba legalized the buying and selling of cars.

But CNN believes the effect of creating a housing market in the stagnant Cuban economy is uncertain. And notes --  the scope of the reform is limited :

“For one, the law places some limitations -- including a prohibition of the ownership of more than one residential home and one vacation home. Also, only Cuban citizens living in the country or foreigners with permanent residences in Cuba may participate in the transactions. Buyers will be required to swear under oath that they don't own other property.”

Al Jazeera spoke to a Cuban who says the new reforms won’t change things overnight:

“ ‘Since people don’t have a lot of money, and you’re only allowed to own one home, barter is going to remain very important’. A possible move to any type of free market is daunting for many Cubans, who have lived their own lives under socialism.”

Fox News notes -- Mr. Castro says he wants to increase economic freedom in Cuba, without abandoning his brother’s principles.

“Cuba's government employs over 80 percent of the workers in the island's command economy, paying wages of just $20 a month in return for free education and health care, and nearly free housing, transportation and basic foods. Castro has said repeatedly that the system is not working since taking over from his brother Fidel in 2008, but he has vowed that Cuba will remain a Socialist state.”