25 acres (10 hectares) of land in Palo Alto (CA), asking for $5.4 million.
As reported by ABC, the first plot in a quiet green street near the Park was sold in may 2016 for $3.1 million Later in September 2016, for $3.9 million Now he is up almost $2 million
While Larry stone, an expert on real estate of the County of Santa Clara, said the price of undeveloped land perfectly adequate. In this area high demand for property and little space for those who would like to build a house here. «Very often people have to buy old houses and then demolish them to build new ones. So in this case you pay for a «clean» site,» — says the expert.
«I already think nothing can surprise, says local resident Anne buchyn, working as a real estate agent since 1970-ies. — All have not sold, now sold».
Sarah Chaffin — advocate, helping to provide affordable housing for teachers, is concerned about the depressing trend. «If a small empty space is sold for $5 million, as teachers will be able ever to live near where they work (and not just teachers)?» the lawyer is outraged.
