Buy-to-let investors believe the income from their property investments will make up more than half of their overall annual retirement income, says a new report.
The figures from buy-to-let specialists Platinum Property Partners shows that the 500 investors surveyed expect income from their rental properties to add to their annual retirement income by nearly £19,785 of an expected total of £35,600.
Indeed, for just over half of investors, retirement income was the main priority. The average investor plans to retire at 60.
"There has been much made of the changes to pensions and annuities announced earlier this year and this may well have increased the number of people considering buy-to-let investment as they approach retirement," said Tony Bennett, Managing Director of Platinum Property Partners. "Healthy income can be achieved in retirement through property investment, but it needs to be researched, planned and approached in a businesslike manner."