Philippines Condotels are popular with Britons
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by Kay Mitchell
UK tax payers are making the most of their tax incentives by investing their Self-Invested Pension Plan (SIPP) in Philippine Condotel Investment Real Estate for retirement and rental income. Many people in the UK were unaware that they could invest their SIPP retirement fund into overseas property.
Should you consider this type of investment, the Philippines is a good investment as a SIPP can establish title to a property in a country whose legal system recognises these types of trusts.
Recent studies have established that there are around 2.2 million overseas property owners in the UK and this is expected to double by 2010. People are living longer so it is clear why investors are looking at these options. Overseas investment is not as risky or complicated as people are led to believe. Prices of UK property have rocketed over the last 10 years but overseas property is a different matter. A Condotel in Metro Manila, Philippines is available for around Â£25,000. The cost of maintenance and property taxes on a property this price will only cost around Â£100 per annum.
Since the value of the dollar has decreased in value and the UK pound is 92:1 on the Philippine Peso, people in the UK are extremely interested in investing in holiday homes here. Potential high rates of rental returns from Condo Hotel Investments are up to 16% per annum.
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