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Despite the recession, the first phase of Haciendas de Palmas, a luxury residential development in Humacao, has been completely sold out, according to Bill Stowell, president of La Jolla Development Corp., the firm which built the residences.
"An estimated 90% of the residences have been acquired by local buyers," said Stowell, adding that most of the units will also become the buyer's second homes.
Haciendas de Palmas is a two-phase residential development located within the Palmas Del Mar resort. The completed first phase consists of 55 residences and is entirely sold out. The second phase, currently under construction, is scheduled to be completed by …