As of May 20, 2014 foreign citizens can buy properties in Cuba as published in the Official Gazette through resolutions 4/14 of the Ministry of Interior and 47/14 of the Ministry of Tourism.
This measure allows the expansion of the Cuban real estate market, as it approves the admission for foreigners or people without citizenship to acquire the visa by purchasing or renting properties in Cuba, in one of the condos built and managed by Cuban authorized entities. Note that a foreign citizen, although not residing in Cuba, can also buy a house from another foreign citizen who currently owns a property located in one of the government´s condos run by state institutions.
It is good to clarify these resolutions only allow foreigners to buy a property in some of the housing complexes mentioned before, so they don´t authorize the buying of private properties by a foreigner. This means that currently if foreigners want to buy a private property they need the Permanent Residence Permit, since the only citizens allowed to buy a property in Cuba belonging to an individual are Cuban citizens and foreigners with the permit mentioned before.