Property income in retirement is valuable
A recent study by The Equity Release Council (The Council) found more people (61%) considered property as a way of netting their biggest source of finance in retirement compared to an employer pension (44%), private pension (39%) and savings/investment (36%).
The research was carried out on almost 2,000 UK consumers of all age groups and highlighted the critical role property will play in the future generation of pensioners. Of those surveyed, 73% said they would consider using housing equity to fund their retirement income including accessing the value in their homes, downsizing or renting out a room. Those who already own a second property such as a buy-to-let investment or overseas property would consider renting out the property for income.
Commenting on the research, Chris Jones, Principal Advisor on overseas property investment for Positive Plus, said: “Property investment is increasingly becoming the favoured approach by those looking to save for a comfortable retirement and more and more people are appreciating the impressive returns such an investment can provide compared to those in the current private pension market.
Chris added: “Consumers are also more attracted to the overseas property opportunities on offer because the UK recession has led to unstable property prices. Places such as the Caribbean have not experienced a recession for more than 40 years and with the current offers available including 100% finance and lower than market value prices, these opportunities present considerably less risk.
“It’s never too late to seek alternatives so if you’ve been feeling anxious or concerned about the current performance of your pension, then seek professional advice for the solutions.”
For the Council’s full report, visit http://www.equityreleasecouncil.com/home/
You can contact Chris Jones at www.positive-plus.co.uk
