Iyari: The Newest Development in Punta Mita
A few weeks ago, real estate agency Punta Mita Properties and developer DINE revealed the name and features of Iyari, the most recent project within the exclusive private community of Punta Mita, located at the northern end of Banderas Bay. This development, initially consisting of eight waterfront properties available to build residences, will expand to up to 20 properties in the future.
In the Huichol language, the word Iyari means “spiritual heart.” Its use here refers to the development’s location beside Kupuri Estates: Kupuri is the soul and Iyari the heart. Overlooking Litibu Bay, Iyari will offer owners of each lot access to a soft, sandy beach and proximity to the Kupuri Beach Club.
The properties range from 1,700 to 2,200 m2 (about 18,300 to 23,680 square feet), with prices between $1.9 and $2.5 million USD. Two financing plans are available: advanced and progressive. The first includes a discount of $100,000 on the total price, with 10 percent paid upon reservation, 80 percent on closing the contract and 10 percent on delivery. The second distributes payments as 10 percent at the time of reservation, 40 percent at the end of the contract and a final payment of 50 percent on delivery.
“Currently, 60 to 70 percent of the sales at Punta Mita have been new product, so DINE plans to continue investing in the construction of more real estate products.” —Brendan Wood, Punta Mita Properties sales and marketing director.