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More than 500 homes have been sold at an average cost of £320,000 as work continues on the world's largest eco-resort.

With a footprint of 330 hectares, Funtasy Island will occupy six islands in the Riau Archipelago in Indonesia when it opens in late 2015.

Located less than 10 miles from Singapore, the eco-resort will be accessible via a 20-minute luxury yacht or ferry ride.

Funtasy Island in Indonesia is poised to become the world's largest eco-resort

A look at some of the properties at Funtasy Island, where more than 500 homes have been sold at an average cost £320,000

Visitors will be able to interact with dolphins, stingrays and other marine life at Funtasy Island

The cost of building the eco-resort is around £154 million ($240 million). The average cost per square metre of property comes in at about £3,200 ($5,000).

Surrounded by crystal clear waters, Funtasy Island will be home to a limited number of villas carefully designed to sit harmoniously with the unspoiled natural environment. 

Plans for the sprawling eco-resort include a dolphin discovery habitat, jungle expedition and boat ride

Located less than 10 miles from Singapore, the eco-resort will be accessible via a 20-minute luxury yacht or ferry ride

One million tourists are expected to visit the islands every year, with the number of houses projected at 1,200.

In line with Indonesian property law, foreign investors can't buy their piece of paradise here as they can only lease it for set terms.

However, after a 20- or 25-year lease, there is the option of a renewal. 

The average cost per square metre of property comes in at nearly £3,200, say developers

Developers say Funtasy Island will be unlike any other real estate development

Away from the private enclave of residences, there will be many specially designed spaces that offer worlds of fun dawn to dusk. 

The outgoing can enjoy nature trails, aquaculture, adventure and water sports, children and young at heart will be charmed by famous characters, and there will be shopping, dining and entertainment for everyone in the Wave Promenade.

Despite the building work, 70 per cent of the islands will be preserved. 

The crystal clear waters surrounding Funtasy Island are home to an assortment of interesting sea creatures

Speaking to CNN, Funtasy Island Pte director Michael Yong said: 'It's already an impressive site but the property is just a start.

'Without that 70 per cent of the natural attractions, our island development will be just like any other or another real estate development.'