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
To choose your first home which you will feel comfortable living in, you need to do the necessary research on your side. You should always search for your home early so that you will not be rushed into any impulse buying decision by any agent. Let me share with you some tips when you are looking to buy your first home.
One very important that you need to take note of is the market rate of the type of house that you intend to buy. Without knowing the market rate, you are just inviting people to give you ridiculous pricing. Therefore, it is wise to conduct a research to find out what is the going rate in the market now. With this information, you are better equipped to negotiate with the sellers and prevent yourself from paying too much.
Other than the market rate of the house, there are also other things that you should consider such as your credit rating and pay check. Do not get into a huge debt which you cannot afford to pay off just to buy a luxury house to live in. Buy something that is within your means and confident to pay the mortgage every month.
Once you have plan out your budget for buying your new home, it is time to network and find the right people to assist you in finding your dream house. One very important person that you absolutely must have in your team is a real estate agent. A good real estate agent will be able to get you a better mortgage, as well as a more desirable type of house. He or she will conduct a research and locate the house that is best for your needs. Other important people that you might want to get them on your team are home inspectors, lawyers, and right lenders. With the right people in your team, you will be able to leverage on the expertise of each of them to get the best deal for your new home.
After you have found your ideal home, before you sign any contract, make sure that you understand the terms and conditions that are presented to you. Things such as loan and mortgage terms and other real estate jargons are important for you to understand first before you sign anything on the dotted line. If you are unsure about anything, do not be shy to ask. It is better to be safe than sorry.
The process of looking for your first home is always exciting and fun. It marks the beginning of another chapter of your life. By following these tips, you can be sure to enjoy this process and get the best deal for your home as well.
Both Lancastersuites & Cheow Yu Yuan are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Lancastersuites has sinced written about articles on various topics from Real Estate, Investments and Property Investment. Pacific Concord Properties Inc., Manila Head OfficeShaw Boulevard, Mandaluyong City. Metro Manila. PhilippinesPhone: Manila [632] 717 1958Fax: Manila [632] 718 1828Pacific Concord Properties Inc., Cebu OfficeLapu-Lapu City, Mactan. Cebu. PhilippinesPhone:. Lancastersuites's top article generates over 550000 views. to your Favourites.
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