Almost 10 percent of elderly aged 55 and beyond aims to purchase properties as a buy-to-let investment.
For the ‘Baby-boomers’ (the generation born between the end of the World War II and mid 1960s), property investment is a main concern as they approach retirement period. A new study shows that almost one in ten elderly aim to buy new properties as a buy-to-let investment.
The improved investment in buy-to-let property is likely to put in £775 billion to the property market of UK.
For several older people, the liberalization of the rules on pensions, announced by the Chancellor means that they are now capable of withdrawing large amounts of money straight from their pensions. This factor has further made the property investment a realistic vision for a great deal of people.
As a matter of fact, latest study shows that a third of pension holders would consider investing a fraction of their pension money in a buy-to-let property; this information came from Direct Line for Business. The modification on pension freedoms has been a downpour of elder people wanting to invest their savings in buy-to-let properties.
These investments can offer a stable income flow throughout their retirement, at the same time it also boosts greater possibilities for income growth than any other type of investments.
On top of everything else, unlike many pensions, the advantage of having a buy-to-let property is that it can be passed on to beneficiaries; an ideal long term investment that citizens are making with their family in mind.