Totally Florida Plus can report that the largest growth in purchases of Israeli real estate by Diaspora Jews in 2006 was neither French nor Americans, but apparently the unassuming British. An amendment to British pension laws has the potential for much greater investment, and possibly not just from British Jews.

Many contractors, apartment owners, and brokers in Netanya, Herzliya Pituah, Tel Aviv, and Eilat have been well aware of the British invasion in the past two years, but it turns out that a dramatic change in UK law may expand the mandate, and give Israeli developers real opportunities to offer their wares to British citizens who are not Jews.

In an interview with "Globes", Adv. Raymond N. Goodman of the Liverpool firm Goodman's Solicitors said that the UK Finance Act 2006, which came into effect on April 6, 2006, allows British citizens to use their Self Invested Personal Pensions (SIPP) to buy a wide range of properties throughout the world. The Finance Act grants generous tax breaks and exemptions, and allows people putting money into pensions to manage their savings through authorized pension providers who provide the investment framework around the world.

Potential investment is allowed both in residential and income-producing property in Israel and other countries, subject to a number of conditions. That said, anyone dreaming of wholesale purchases of Israeli holiday homes by British buyers is fantasizing, since the tax break is not given for properties bought for personal use, but only for properties bought as investments. Currently, a tax break of up to 100% is given on annual profits of up to 215,000 pounds.