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Chancellor Confirms Residential Property Allowed in SIPPs

23rd March 2006 | back to article listings BACK    print this article PRINT

BUDGET RESPONSE from Stuart Law, Managing Director of Assetz

“As expected, the Chancellor has confirmed that residential property will still be permitted within pensions through indirect means such as property funds and REITs, although direct property purchases are forbidden.

“This is great news for investors, who are now free to go ahead and feather their retirement nests with residential property, taking advantage of rising house prices and a generally healthy housing market.

“Managed funds are accessible to the masses with lower entry levels than direct property investment, as well as better lending and gearing, allowing stronger performance in the long term.

“REITs will provide one option to investors but the low borrowing levels will limit potential returns and make them less attractive to professional investors who understand the benefits of gearing.

“More specialist Exempt Property Unit Trusts (EPUTs) simulate the considerably greater potential returns and risks associated with the higher gearing of direct property investment. Lower entry levels mean investors can share in the profits of property investment whilst keeping their portfolios diversified.”

-ENDS-

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/2672.html. Alternatively, please see our full press release archive.

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