New Portillo condos
- Updated On:
- July 9, 2021
- 2 Bedrooms
- 2.5 Bathrooms
- 150 m2 Home
- m2 Land
- Start at us$ 259,000
Beautiful new condo development 1 kilometer from Portillo beach and a spectacular oceanview clubhouse. Only 6-7 minutes by car to Las Terrenas. Peaceful and quiet location and is a unique residential community nestled within the nature reserve of Parque Las Terrenas on the northern side of the Samaná Peninsula, Dominican Republic. Within our hillside oasis you can connect with your environment and be at home in paradise.
Each Aparthotel boasts breathtaking views and luxurious accommodations akin to the top resort destinations in the world. Situated only minutes away from the sandy beaches of Playa Carolina near the town of Las Terrenas. The Signature Community Center is nestled above the buildings’ rooftops and provides a restaurant, lounge areas, and infinity pool, which make for world-class amenities. The community center has ocean views. The condos have very nice green zone views.
7 buildings (each building 3 stories) with each building consisting of 6 units with an elevator in each building.
• There are 2 First Floor 2-Bedroom Units (total area for each unit: 158m2 / 1,700 ft2).
• There are 2 Second Floor 2-Bedroom Units (total area for each unit: 158m2 / 1,700ft2).
• There are 2 Third Floor 2-Bedroom Penthouse Units with 2 connecting Fourth Floor Terraces. Access is only available through the 3rd Floor via a staircase and the building’s elevator. (total combined area of 3rd Floor and 4th Floor Terrace: 283m2 / 3,042 ft2).
• 2 1⁄2 bathrooms and 9’ ft ceilings in all units.
• First Phase of Stamped Permits were issued December 30th, 2021.
• Groundbreaking Scheduled for Mid-March 2022.
Tax status: Tax Exempt Filing. Immediately upon receiving our stamped permits we will be filing for the Certification and Benefits of the law 158 01 in Dominican Republic, which grants Property Tax and Transfer Tax exemptions to the acquirers of touristic properties for a period of 15 years. After the exemption period is over, the property will be subject to the Annual Property Tax (1% of property value). Also, if you decide to sell the property, the buyer will need to pay Transfer Tax (3% of purchase price).
There is a $5,000 Required Reservation Deposit. 50% is refundable.
You will receive your Promise to Purchase Agreement within 30 days. You will be required to make a 15% deposit upon the signing of the agreement. Your original $5,000 Reservation Deposit will be deducted from your required 15% deposit. (You or your designated POA will be required to sign the purchase contract on the soil of the Dominican Republic at least 15 days after receipt of the 15% deposit.
The following Deposit schedules are as follows:
1. A Beginning Construction Deposit of twenty 20% will be due within two weeks of our groundbreaking ceremony scheduled for Mid-March 2022. *We suggest that if you are planning to seek mortgage financing of your condominium purchase you should consider doing so after making your Beginning Construction Deposit.
2. A Mid-Construction Deposit of 25% will be due approximately 6 months after your Beginning Construction Deposit.
3. Your Final Closing Deposit of 40% will be due approximately s6 months after your Mid-Construction Deposit.
High quality Finishings:
Home Owners Association Fees: The HOA / Condominium fee is calculated based on unit size. The estimated monthly fee is USD$2.50 per square meter (approx. $0.25 per square foot). For the typical condo (112 indoor square meters or 1173 square feet) in Tempat Sala Aparthotel, this would amount to $294 per month. This fee pays for all common area expenses, including: Security and Condominium Staff; Landscaping; Fumigation; General Maintenance and Upkeep; Backup Power Generator Fuel and Maintenance, Cleaning and Maintenance of Pools; Insurance against natural disasters, and Third-Party Liability Insurance.
Financing options: we can hook you up with a local bank here. Interest rates for a vacation home around 4%.
Units – sizes – prices:
- 1ST FLOOR APARTMENT: 150m2 / 1,614 sqft / 2 Bedrooms / 2 1/2 Bathrooms. At 259,000 USD
- 2ST FLOOR APARTMENT: 153m2 / 1,646 sqft / 2 Bedrooms / 2 1/2 Bathrooms. At 289,000 USD
- 3RD FLOOR PENTHOUSE APARTMENT: 150m2 / 1,614 sqft / 2 Bedrooms / 2 1/2 Bathrooms PLUS THE ROOFTOP TERRACE: 131m2 / 1,409 sqft + 1 full bathroom. At 339,000 USD