Much of the evidence to help us conclude as to it's location is the small reflection in the opened window, which shows the same style of architecture that would be found in Cadaques, both then and now. However, it is unknown whom the home belonged to, the lady captured is likely to be looking out from a holiday home owned by the Dalis, or borrowed for a summer trip from other affluent friends.
What is known about the painting is that the view would have been spectacular and of great significance to Dali. It would also appear in other paintings from his career, marking it's prominence in his youthful memories.