In short, it has been estimated that as many as 60,000 pensioners have taken advantage of these new pension rules already, many of whom are expected to have used their money to invest into buy-to-let properties.
Buy-to-let opportunities are tangible investments which appeal to many pensioners as they provide a monthly income from rents as well as the capital growth properties provide. According to mortgage lender Kensington, approximately 53% of retirement savers were considering buying or already in the process of investing in a buy-to-let property, two weeks before the start of the pension changes.
This is no surprise as the buy-to-let market has grown massively over the last few years from 396 buy-to-let deals in April 2013 to 664 available this year. In terms of deals made March 2015 saw 21% more, in comparison to March 2014, proving the sectors growing popularity and visibility.
With more options available, pensioners enjoy a greater choice of property investments, and can be more demanding on location, size, and (most of all) price. Plus, with mortgage rates currently at an all-time low, becoming a buy-to-let investor is easier and more accessible than ever before. Although the actual figure of new investors/pensioners may not be known, the lucrative state of the market is sure to have attracted plenty, and will continue to do so.
Although such a selection of buy-to-Let properties may seem overwhelming to pensioners who don’t know much about the market, there are a few strong developments set for success. At the moment, one of the most exciting buy-to-let opportunities on the market is X1 Media City with studios available from £94,950.
X1 Media City has already gained lots of attention in the press as it promises to change both the Salford Quays skyline and the local rental market thanks to its 1,000 luxury apartments. The property will be fully managed by X1 Lettings, an award winning management company which has all of its completed properties 100% let.
For pensioners looking to invest without having to take on the responsibility of being a landlord, X1 Media City presents itself as the perfect development choice. buy-to-let properties are currently enjoying a boom of popularity making now a great time to invest, and going forward, as more and more feel brave enough to access their pensions this popularity is only going to increase.