As reported by mail.ru, the first deputy minister of Cuban Domestic Trade Odalys Escandell announced, that on December 15 authorities cut prices on building materials by 20-30 percent. According to Escandell, prices were lowered for 122 items of building materials, including concrete blocks, sanitary ware, bricks, waterproofing and other materials. It should be noted, that prices in all 286 building material stores are determined by the Cuban government.

Deputy minister also added that since December 20 all residents wishing to renovate their homes or build a new one, had the opportunity to apply to banks for loan and about 5 hundred new bank offices were opened around the island. Problems in construction industry remain as one of the main obstacle of island's economy. According to officials, over 40 percent of housing is in poor condition. The country's leader, Raul Castro and several other leaders have repeatedly talked about the need to stimulate the development of private home remodeling segment.