Important Advantages for Your Development Project -- oops!
This beautiful beach area has been declared a "non-development"
area according to TV and newspaper reports dating back as far as summer 2006. The local residents were
reported to be afraid that they will be priced out of the market, and want to
keep the area for themselves. That's the official version. Backed up
by a private police force that has stopped all construction and development. All sales contracts have been declared
void. Legal??
The private version is somewhat more believable: the affluent locals want to
keep prices down so that they can afford to buy more property themselves.
There are reports that developers were offering in excess of €1600 per square
meter for first row beach-front property, and this priced it out of the locals'
price range.
Another beautiful area that is going to be very difficult (and
expensive) to
get into in the future. Don't you wish you had invested here three years
ago?
