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Property in Cusco, Peru triples in value after Machu Picchu named World Wonder

Living in Peru
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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# Biviana says :
15 May, 2008 [ 06:47 ]

This is great if everything is balance. Schools, hospitals, jobs for natives of Cusco...
I wonder how the poor people in that city "A Wonder of the World", benefits with all the millions of tourist that visit Machu Pichu and on top of that, are been overcharged depending what country you visit from.
If you visit any museums in Peru, at least the ones I have, the cost is around 6.00 to 30.00 soles the entrance.
I was told, not too long ago, that now the entrance to visit the ciudadela of Machu Pichu is 120.00 dolars. I hope that is not true, but if it is...WHat is wrong with that picture? 

Business is business but reality is reality... This WOnder of the World is respected and valued for what its stands for, I believe.
THe Incas valued their people and respected other cultures. The more they triple their houses, economy raises and people from Cusco will no longer have nothing to eat.

# Adriana Erni says :
16 May, 2008 [ 15:44 ]

I am real estate Broker... and I agree with Biviana's comments.  It is great for Cuzco and the country of Peru to be admired for its nature and virgin beauty.  We need to think further with these opportunities. We have always had them but we have not chosen to spread these all around so everyone in Peru including the natives and the poor have the same chance to build their own dreams and grow.  Why do you think that is??? Do we have greed? Do we have ignorance? Unfortunately, this is what spreads around and it blocks the roads.
I love the city of Cuzco, Machu Pichu and other natives towns. I am proud it was chosen as one of the Wonders of the World.  I hope that our people preserve it and protect it and do not use this given title as a vehicle to feed their own greed.