November 8, 2005
Prices boost for SIPPs property in Spain
The Spanish Government plans to make it easier for UK pension property buyers to purchase for less and pave the way for increased investment in the Brits’ favorite sunbelt destination.
Officials and ministers are aware of the changes occurring in the UK in the succeeding year. Self-invested personal pensions (SIPPs) will encourage the British to use pension savings in investing in land and property abroad. The government is anxious to keep prices down and competitive with the less developed yet emerging markets.
A new law that could be introduced in the near future aims to boost investment in second homes. Spain has 300,000 families and investors who own properties, are registered voters and 700,000 people believed to own holiday homes.
Posted on: Spain
October 25, 2005
Double Good News on Spanish Property Prices
Good news for Spanish property buyers as the rate of increase for the properties reached to 13.4 percent, the slowest in the longest time, in the past 12 months – the beginning sign of an equity slowdown as the mark soared up to 25 percent in the Costa Calida region back in 2004 and averaged 18 percent in other home areas in the region.
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Posted on: Spain
Property in Spain “best ever” investment
It has been a downgrade for the increase of house prices in Spain as it slowed down to 13.4 percent in the past twelve months – the first obvious slowdown as equity growth rose to a record high of 25% in the region of Costa Calida in 2004 and an average of 18 percent in other second home coastal areas.
Average prices for properties in Spain for new and “used” homes between September 2004 and last month showed a meltdown has begun for the first time as the “boom” market in Spain suddenly took a downward twist, the government claimed.
According to the director general of the Spanish Ministry Housing, “political architecture” section Rafael Pacheco, the increase verified that the long-predicted slowdown had already begun and that the efforts of the government to pacify the housing market had generated the desired results. The fear that the Spain’s socialist government is that they will not be able to pay back all ten thousands euros to millions if the property bubble bursts. The general index of property increased by up to 13.2 percent in the past year while the cost of state or “protected” properties inched its way to 5.7 percent during the same year.
Posted on: Spain
October 4, 2005
SIPPs Blow Could Boost Sunbelt Homes Sales
The government has made a done deal with the investors vying to have their tax relief to put their buy to let properties and holiday homes in their pensions from April of next year when the investing rules seem to be lax.
The UK Treasury has made a complete run about, as reported by the FT, as generous tax breaks have been removed from the SIPPs self invested pensions.
Starting April 6 of next year, there are rules that the pension laws were to be relaxed allowing those people saving much for their retirement much greater freedom allowing what they could have over their pensions. With this new development, it might seem that changes in the rule would lead to an advantage in the self invested personal pension (SIPP), pensions with wide invested freedoms.
Posted on: Spain
October 2, 2005
SIPPs experts warn on risks and rewards
Norwich Union, an insurance giant, has raised its concern with the FSA on the marketing of the residential properties that is invested into a SIPP (self invested personal pensions) when the month of April rolls around as during this month, the law rules that this is possible.
The firm raised its concerns that the SIPPs might be telling people its added advantage, overemphasizing its benefits, but not its flaw. People from the SIPPs keep on saying that by purchasing personal property through a SIPP, customers can then effectively reduce the price of the property by as much as 40 percent because of the tax breaks. However, this is not entirely cleared. The adverts failed to disclose that there are possible substantial tax bill for investments in overseas properties or that the investor could not take hold of their property any longer.
Posted on: Spain
September 29, 2005
Pru chief: Don’t lose out on SIPPS
When the SIPPs pensions are introduced next year and the complete overhaul of Spanish property investments through this kind of method are then paved away, there could be slights misgivings next April. This kind of pressure may then come from employees losing out on their surprise pensions and the surprise benefits that they receive.
To simplify company pension schemes is the new rule brought about by this SIPP development pension plan. This will be introduced on April 6, 2006, and that the aim of this legislation comes in two-fold: to make the pension system less complex and to encourage greater pension investment. With this new method comes many tax-free inducement schemes, including the idea of buying a second home in Spain or other safe and suitable countries to your liking and purchasing these properties through a SIPP pension plan. In a personal survey, this is what the pension giant, Prudential UK, found out:
Posted on: Spain
September 28, 2005
Spain Tops List for Sunny SIPPS Investors
There are as many as 1,000 investors, particularly the property in Spain, who would benefit from the new tax friendly rules that will establish the government as having to contribute up to 40,000 to 100,000 needed to buy a second home in this country. A recent study conducted proved that many people and many investors are out to take advantage of this new tax break, which would benefit them from buying a second home under the sun. This tax break also has its objective as having people to invest in their personal pensions.
An amount of 1.5 billion will be around to be shared into the overseas properties, particularly in the countries of Spain and France, as people use tax breaks to purchase holiday homes, according to the study by Hangreaves Lansdown, one of UK’s biggest independent financial advisers.
Posted on: Spain
September 27, 2005
High Anxiety Summer for Brit Illegal Buyers
British illegal buyers of property in Spain, particularly buyers with townhouses and villas, will now have to face a team of demolitions and constructions as they are being hunted one by one by the European Commission (EU). This is in a move that says that the EU has vowed to get rid of all illegal buyers who have bought their properties in “illegal” deals from local agents, builders and developers. But with this new development, there are still less British who would do nothing but watch their comrades’ homes being demolished.
Posted on: Spain
August 11, 2005
Euro is a bargain for Brits buying in Spain
Buyers of Spanish property can now get a bargain rate right now as today’s rate of the Euro is at 1.45 to the Pound and the imaginary 1.50 exchange rate is improbable to be seen in the near future.
This is the opinion of currency expert, Alistair Sweetman, who is convincing British buyers of Spanish properties and other Euro zone countries to fix their currencies immediately before purchasing a property. read more
Posted on: Spain
July 20, 2005
Why Property in Spain Costs More This Week
There are a lot of questions and confusions on the buying market since the recent moves in the Sterling-Euro exchange rate on the UK buyers of European properties. Cries such as “What is happening to the Pound nowadays?” hounded across the region. This is just one of the question being heard at the dealing room of Halo Financial, a currency broker specializing in foreign exchange for clients and private investors.
The first five months of 2005 experienced the Sterling-Euro exchange rate increase in an organized manner, peaking at 1.5150 dollars and showing to those property buyers that they have a lot of assistance of currency specialist with the opportunity to get their money at the top of the game and to cover stage payment and delayed completion dates.
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Posted on: Spain
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