Two in every five adults would choose property over pensions to provide for their retirement, a report by Mintel reveals.
This figure is compared to just one in four who would consider a company pension and a mere one in six who would consider a personal or stakeholder pension. The report shows that property proved to be the single most popular way to build up a retirement pot.
Paul Davies, senior finance analyst at Mintel, says: “Low interest rates and the recent poor performance of the stock market, as well as a fall in pension scheme funds, have meant that property has probably never been so attractive as a way to save for retirement.
“But investing in property can catch homeowners out. If fortunes change and interest rates continue to rise, many may find that they have unmanageable mortgage repayments. On top of this there are no guarantees of selling the property.”
The report also shows that a third of adults would consider putting money into an ISA, and a similar proportion would consider saving money in a deposit or savings account.