Like our condo in Playa Langosta, this parcel of property must have been "grandfathered" before the law took effect that bans the construction of buildings within 200 meters of the ocean. This prominent location is much closer than 200 meters to the ocean.
This building is called Crystal Sands. In real estate, a common expression, of course, is that the three most important things are "location, location, location." This building has location. Its developers are experiencing the effects of something other than location: timing.
Several years ago this building would have likely sold out during construction. This is a different economy, however. The developer has taken out advertisements in magazines in the USA to seek buyers, and there is a sophisticated website with a virtual tour and other features.
The website states that 2 bedroom, 2,600 square foot units (242 square meters) are priced at "under $900,000," and 2-story penthouses, with 4,200 square feet (390 square meters) are priced at $2 million USD.
This week on our Viva la Voyage travel photo website we are showing photos of Peru, particularly Machu Picchu, one of the wonders of the world.