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Recent figures released by the UK government show that 365000 Brits left the UK for to live in another country. The majority have settled in countries such as Australia, Spain, France, New Zealand, USA, Canada, Netherlands, United Arab Emirates and the Philippines. This mass exodus is the biggest since records began in 1991.
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apartments, condo, hotels, condotels, investments, property investment, real estate investment, condotel investment
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Beth Collingz, Overseas Sales Director, PLC International Marketing Networks, for Pacific Concord Properties Inc’s Lancaster Brand of Condotels in the Philippines said a closer look at the figures released by the UK’s Office for National Statistic showed that of those who left last year 196000 were British citizens while 189000 were long term migrants who had been living in the UK for more than a year.
The surprising emigration figures begs the question why are people leaving in such numbers. Surprisingly it seems that one of the main reasons for the British to pack their bags is the British weather. Sun starved Brits have had a very wet summer and the grey skies which are meant to be blue have hardly appeared Collingz advises: Brits are familiar with the idea that we only have two seasons – the winter and July. It seems that this year, with the terrible weather we have experienced in July and throughout the summer, many people are not prepared to sit through a year-long winter.
Recent research from PLC’s UK client base found that favorable weather is a key reason consumers give for retiring to the Philippines. Some 60 per cent of buyers for our Lancaster Condotel units told us that the climate is one of the main attractions for retirement in the Philippines. Interest in Philippine property rose by 70 per cent year-on-year in June and by 60 per cent in July. People buy property abroad for many different reasons but a depressing British summer is enough to spur any overseas property buyer or investor into action commented Collingz. Fort those considering emigrating to the Philippines and to ensure you get the best possible start in your new home overseas you will want to begin with as much money as possible. One of the key ways of doing this is to carefully choose the method for the transfer of your assets into your new home and availability of local financing for property purchases is a key factor.
The Lancaster Brand of Condotels in the Philippines offers no-prequalification 12 year payment plans extended by the developer Pacific Concord Properties Inc. UK Tax Payers can 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 SIPP.
If 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 £25,000.00 Lancaster – 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.
Beth Collingz
PLC International Marketing Networks