Beth Collingz, Overseas Sales Director, PLC International Marketing Networks, whom are the lead marketing partners for the Lancaster Brand of Condotels in the Philippines, said the number of people buying abroad rises by as much as 30 per cent in the autumn months.
We have this trend of seasonal activity in the overseas property market over the last few years especially from UK market. Statistics from UK Estate Agents showed that from 2004 and 2006 the number of British people who owned a second home abroad soared from 550,000 to 800,000. With a further 5.5 million Brits estimated to be wanting to live abroad, UK buyers are increasingly being tempted by the different cultures, lifestyles and often improved standard of living that other countries, including the Philippines, can offer said Collingz. Collingz said historical sales figures show that the number of people buying property in the Philippines has a significant peak in the early autumn as many people use their summer holidays to hunt for their ideal second home. Interest in buying abroad can quickly strengthen after a few weeks back in Europe as the days shorten and the weather takes a turn for the worse. PLC has been anticipating the arrival of the British overseas property buyer in the Philippines and sees the UK market, rather than the US, as the place to sell their Condotel units over the next 6 months. Our PLC Global property portal has already seen increased traffic for September from UK buyers and estate agents who want to buy or market our Lancaster Brand of Condo Hotel suites to a UK audience.
UK Tax Payers are also taking advantage of tax incentives and Investing their Self-Invested Pension Plan [SIPP] In Philippine Condotel Investment Real Estate for Rental Income and Retirement. Collingz explained that the Self Invested Pension Plan [SIPP] is a personal pension plan but with one very significant difference: administration is separate from investment content, giving the plan holder freedom to choose for himself and change the investments within it. The long-awaited rules on what savers can include in their personal pension plans were unveiled in April 2006 by HM Revenue & Customs. The Guidance Notes confirm that the Self Invested Pension Plan [SIPP] allows holders to invest in hotels such as the Lancaster Brand of Condo Hotels in the Philippines. The only stipulation is that SIPP holders may not stay in their rooms. With more nights available for paying guests, this not surprisingly increases the room owners’ returns. It is estimated there are now more than 70,000 plans holding over £14bn.
A year or so ago, few people in the UK realized that they could manage their Pension Plan portfolios themselves, and even fewer knew that they could invest their SIPP retirement money in homes in the sun which now prove to be among the most popular potential investments to include in a SIPPIf you’re considering using your SIPP to invest in real estate, there are some excellent reasons that you should choose Philippine Condotel Investment real estate to drive your retirement portfolio into high profit margins. The Philippines is ideal for this type of investment because a SIPP can establish title to a property in a country whose legal framework recognizes trusts and a SIPP is simply another form of trust.
Investing in foreign real estate is neither as risky nor as tricky as a lot of people would have you believe. While land and housing prices in the U.K. have soared astronomically in the past decade, the world real estate market is a far different story. It’s still possible to buy a preconstruction Condotel suite at Lancaster The Atrium located in Metro Manila, Philippines, for less than GBP £25,000.00Lancaster – The Atrium is a “Full Service” Condominium Hotel offering Studio, One, Two and Three Bedroom Suites for sale. To be completed and ready for turnover from December 2010, and will provide unit owners with premier residential condo units with the option of enrolling their units in the Lancaster Condotel Rental Pool and earn Rental Incomes [at current purchase levels] of some 8-14% ROI per annum as Owner Non-Residents when not using their units through Condotel Management. This makes Lancaster Suites one of the Hottest Investment Opportunities in the Philippines.
The beauty of holding property in the Philippines is the low cost of property taxes and maintenance. A GBP £25,000 Condotel suite may set you back GBP £100 in property taxes per year, and maintenance costs are similarly low. When you add in the tax-protected status of investments made in your IRA, and the 12-16% returns through rental income through the Condotel advantage, you have an incredible ROI on a purchase of Philippine Condotel investment real estate enthused Collingz.
What’s the downside about owning Philippine Condotel Investment real estate as an SIPP investment?. You cannot reside at your investment property as long as the SIPP is titled as the owner of the property. The self directed pension plan rules about benefiting personally from your investments are strict – you are not allowed to make use of any property owned by your SIPP, or you risk losing its tax-protected status and worse yet you could face penalties from HM Customs & Excise. You can, however, rent out your SIPP investment for steady income – putting the profits and cash flow into your SIPP, or sell your Philippine Real Estate Investment for immediate profit, as long as those profits remain inside the SIPP.
If you’re looking for an unusual and high earning investment for your SIPP, then take a serious look at owning Philippine Condotel investment real estate. It can help kick your SIPP earnings into high gear. With an impending slowdown of the UK. housing market and failing pension plans, many investors are turning to using their SIPP’s to invest in overseas properties and earn tax-free or tax-deferred income. This creates an outstanding opportunity for by offering self-directed pension plan vehicle to invest in the Lancaster Suites Atrium Tower preconstruction units.
With preconstruction property appreciating at some 20-30% per annum not only does the Real Estate Appreciation look good but the rental income is in excess of what many Pension Plans offer for the same or similar investment.
Beth Collingz says that many new investors are looking to replace failed pension plans and other future saving schemes with a solid investment in Real Estate. Clients are looking for investments that will give them an income for retirement as an alternative to traditional private pension plans that have failed. Most company pension plans are insufficient as are Government Pensions. Bank rates for Savings accounts are at record lows. Savvy investors are now looking for a more solid investment with potential for monthly income. Condotels in the Philippines fit the bill.
This potential, high rates of rental returns from Condotel Investments, currently from 8% up to 14% per annum, opens up a huge market not traditionally looked at by Real Estate Agents and Brokers whom all so often run around looking for normal residential profile buyers without looking at the by far bigger picture of investments, investing and retirement. “We’re here to help our clients, educating our clients and advising them of emerging investment opportunities. Self-Invested Pension Plans and the Lancaster Suites Atrium Condotels, fit this bill exactly; adds Collingz.