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Sipps 12% growth in Spanish property investment

Article Date : Wednesday, October 05, 2005       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Three major Spanish banks have predicted annual house price inflation of 12 per cent in the first year following the launch of property investment Self Invested Pension Plans (Sipps). Major Spanish financial advisors and property experts are already preparing for a wave of new UK property investment after the Sipps April launch. "Our research with pension providers indicates that Sipps holders will be happy with a return below that being forecast by the Spanish banks. Spain is able to combine economic security and unlimited tourism lettings potential for the Sipps homes with a better than average investment return," spokesman for property investment group Sipps In Spain Alberto Linares told Property in Spain. The most recent property investment forecast, provided by Bank Caixa Catalunya, reports that the underlying Spanish economy "remains sturdy" and that market activity remains strong. The prediction of 16 per cent house price inflation through to the end of the year and 12 or 13 per cent over the course of 2006 tallies with that given by banks CAM and Caja Murcia. Both CAM and Caja Marcia are major players in the Spanish property investment and mortgage sectors, catering to both domestic and jet let demand, and members of the Sipps in Spain group alongside UK and Spanish trading partners. "We plan to launch the first SIPPs friendly development shortly - at prices below the current forecast levels. Already there are many signed up buyers through the SIPPs in Spain grouping. If the SIPP pension is getting 12 per cent growth a year, this has got to be one of the best returns in many years," said Jose Ivars of Sipps in Spain developers Blauverd. News Article from Assetz
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