Interest in buy-to-let property to boost retirement income on the wane
There is a decrease in the number of people planning to invest in buy-to-let property to boost their retirement income, despite most people recognising the potential of property investment.
According to Retirement Advantage, 62% of people are unlikely to consider buying a property to let out as a means of boosting retirement income, while only 35% are likely to consider it.
These results are telling and paint a different picture from last year. This might be to do with the recent introduction of tax and regulation changes which affect owners of buy-to-let properties.
In the over 55s category, 87% now say that they won’t consider investing in a buy-to-let property to boost retirement income, while 10% say they would consider such a move.
This comes despite the fact the majority of those asked still regard property as a good investment and can see the long-term benefits.
Alice Watson, Head of Product at Retirement Advantage, said: “There are still nearly a million landlords over 55 and for those landlords there are innovative new mortgage options available to increase ways to boost income from investment properties”.
Property investment remains a good option as a means of generating income during retirement, especially as pensions and other asset classes are still considered less stable and more prone to fluctuation.
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