More and More planning to use property to fund retirement

New research from Barings reveals that 13% of people say they plan to rent out or sell property to fund their retirement. This is an increase from 11% last year and the highest figure since 2009. Around 2m people intend to sell their existing home to fund their retirement. The report shows that the number of people saying they have never planned to use property to fund their retirement has fallen, from 59% in 2009 to 35% today. Marino Valensise, chief investment officer at Barings, said: “This year’s survey indicates that more people are investing in property as a retirement source and the concern is that this could mean they are over-concentrated in the asset class.” She added: “ It is imperative that people diversify their investments through a range of assets, which can, of course, include property.”