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 SIPP