Part 6/9:
The influx of investment in El Zante has resulted in rapid development—new hotels, upscale restaurants, and luxury villas sprouting alongside modest family-run businesses. This dynamic transformation encapsulates what some term "Bitcoin gentrification." While many locals welcomed increased tourism and business opportunities, there is a pervasive undercurrent of frustration about housing affordability and displacement.
The average price per square meter skyrocketed; what was once a manageable $34 now exceeds $80, with premium beachfront properties reaching upwards of $1,000 per square meter. For the average Salvadoran earning just a few hundred dollars monthly, the prospect of affording a home in this now-viral destination appears nearly impossible.