(From www.livinginperu.com)By Israel J. Ruiz
The entire city of Cusco cheered and celebrated when it was announced that Machu Picchu had been chosen as one of the New 7 Wonders of the World.Since then, the city and its residents have been able to enjoy certain benefits, such as increased tourism and more investments in the area's infrastructure. Real estate in Cusco was also affected when the Inca Citadel was named a New Wonder of the World. The cost of property in Cusco city has doubled and in some cases tripled.For example, the spacious 40-room house that belongs to Carmen Rosa del Solar has been valued at $2 million. A fair price says the proud owner, considering it is located on Márquez Street in the historic center of Cusco. The house is approximately 1,000 square meters (10,763 square feet) and is used as an institute for teenagers preparing to apply to universities. Carmen Rosa has affirmed that it is the perfect place for companies wishing to build a hotel or a shopping center.She added that it was not likely that she would lower the price of the house per square meter, which is currently valued at $2,000.Carmen Rosa explained that the square meter (10 square feet) at Cusco's main square was valued at $4,000 per square meter.Since Machu Picchu was named a world wonder, the cost of real estate has doubled and even tripled, says Lily Quispe Charca, President of the Real Estate Agents Association in Cusco.
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