Women turn to property for retirement planning

By Edward Lander

LONDON (Citywire) - More women are turning to property investments to fill their retirement income void, according to ThePropertyInvestmentMarket.com.

With divorce rates rising and more women staying single they are increasingly active in buying and selling shares in residential property.

Faced with providing for their future, women are investing in property partly because the pensions market is male-centred and partly because property is a tangible asset that they can understand and see how it might grow in value.

Karen Ritchie of Somerset based CS Pension Consultants, which specialises in pensions and divorce, said: "I would say 80 percent of my female divorce clients would opt for property over a pension purely because they understand it.

"They're living in it and are emotionally attached to it."

She added: "Most of the time they've got very little of their own personal pension and most haven't got enough earnings to support one anyway."

But Ritchie warned that too many people look at property investments through "rose-tinted glasses" and suggested that women in this situation should consider investing in property alongside other investments and a cash sum.

She said: "One of the best things that could happen would be a crash in residential property so that it shows people the risk of investing in property."