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Property Investment Seen As Alternative To Pension
Many older people are putting their money into property investment instead of a pension, new research by an investment management firm has revealed.
According to the study, 38 per cent of British adults do not currently have a pension, including 1.4 million people aged over 55.
However, interest in property investment appears to be on the rise, with 13 per cent of those polled saying they rely on property to fund their retirement, up from 12 per cent in 2010 and eight per cent in 2009.
Additionally, 16 per cent of people aged 65 and over who are still in employment said they will use their property investment to fund their lifestyle after they retire, according to the study by Barings Asset Management.
Recently, the Association of Residential Letting Agents said there need to be more incentives for landlords to expand their buy to let property investment portfolios, due to an imbalance of supply and demand.
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Article date: 8/17/2011 12:00:00 AM