3-BR condo in new development

Punta Popy, Armonia Las Terrenas, Las Terrenas

Features

• Near beach
• Near town
• Tax-exempt

Description

This new development of condos is located in Las Terrenas, the pearl of the province of Samaná, an area with the one of the greatest tourist potentials in the Dominican Republic. Las Terrenas is known internationally for its high rate of tourism, its beautiful beaches, its variety of cuisine, and its wide variety of tourist activities.

Among its most outstanding beaches are Punta Poppy, Playa Cosón, Playa Bonita, Playa Las Ballenas and El Portillo Beach. It has the international airport Juan Bosch President, or better known as the Catey, is just 20 minutes from the town of Las Terrenas.

The project is just 450 meters from playa “Punta Poppy”. It consists of 128 apartments, with 80 units of 2 bedrooms and 48 units of 3 bedrooms, distributed in 20 blocks of buildings. It is a place designed for people to feel comfortable and relaxed, with their beautiful gardens, recreation areas, and the condos overlooking the green areas.

The project is under the supervision of the fiduciary "Universal", providing all the investment guarantees to the acquirers. The money invested will be blocked in an escrow account until the final delivery of your unit. If the developer doesn’t comply, the money is returned plus interests as penalties. Financing is available with the main institutions and banks of the country.

Armonia benefits from the Confotur law. This law offers very attractive tax advantages to all buyers. These are; Property transfer tax exemption (3% of the purchase amount); Property tax exemption (IPI 1% annually); The exemption of the taxes in case of capital increase and on revenues (27%). You can read more about the Confotur Law and approved real estate projects.

You can read more about the Confotur Law and approved real estate projects.

Imported modular kitchens with granite top. Sliding windows in glass and aluminum. Porcelain tile floors. Pre-installation for A/C. Rental pool program is available. HOA fees projected around 100 USD for the 2-bedroom units and 120 for the 3-bedroom units. The condo fees don’t include the insurance of the building, which is around 700 USD per year.

The project will be built in 3 phases, over the next 3 years. Phase 1 starts in August 2019/delivery in November 2020. Phase 2 delivery in 1August 2021 and phase 3 in August 2022.

Payment terms are as follow: 2,000 USD to reserve your unit, 10% at the signature of the promise of sale, 30% at the start of construction and 60% at the delivery of the unit.
Read More Read Less

Location

Card image cap
Punta Popy

East of the heart of the touristic part of Las Terrenas, this busy area offers lots of excellent restaurants along its beach ending at the gorgeous Punta Popy.

Card image cap
Armonia Las Terrenas

A new development of 128 apartments with large common areas for all the family, sitting in a tranquil area close to Popy beach.

Financials

Utilities: $180

Maintenance: $80

HOA Fees: $100

Monthly Rev. (50% occupancy): $3,195

Mngt Costs: $629

Monthly Profits: $2,206

Legal Fees: $1,326

Transfer Fees: $3,978

This listing

Price / SQM: $1,205

ROI: $19

Similar listings

Market Price / SQM: $1,205

Market ROI: $19

Listing Agent

Similar Listings
New
$139,000
1 Beds | Built 65 m²
New
$155,000
1 Beds | Built 70 m²
New
$129,000
1 Beds | Built 62 m²
All information, including measurements data and financial calculations, is obtained from various sources, and is approximate. No guarantee, warranty or representation of any kind is made regarding the accuracy of such information and Atlantique Sud Real Estate S.R.L. expressly disclaims any liability.