Large plots of land in California sell for $250 at auction – but there’s a catch

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyle(Getty Images)Several large parcels of land near Candlestick Point in San Francisco were recently sold at auction for as little as $250, despite being entirely submerged underwater. These 5,000-square-foot lots were marketed as an "intriguing speculative investment" for potential future waterfront development, boat docking, environmental applications, or strategic land banking. Purchasers face significant legal and environmental hurdles if they intend to fill the land for development, a process historians deem highly unlikely to gain approval today. While some experts suggest floating homes could be a possibility, this would also require navigating complex permitting and regulatory challenges. The sales highlight the extreme demand and high cost of living in San Francisco, with investors taking a gamble on the future value and usability of these unique properties. In fullLarge lot in San Francisco sells for just $250 - but it’s completely underwaterThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

Raccontata daindependent.co.uk