Buy-to-let seen as good alternative to pension plans
Within the next three years, one million homeowners want to have another property in the UK that they can let out, research from Mintel finds.

Mintel's analysis indicates that two million homeowners (7% of homeowners) own a second home in the UK or abroad, with one million of these real estate moguls (3% of homeowners) being buy-to-let landlords or overseas homes.

Mintel expects the buy-to-let market to continue to grow at a healthy rate over the coming years, driven by the expected expansion in the population and the continuing strong demand for rented accommodation.

"Increasingly, property owners are seeing the benefits of investing in bricks and mortar and often regard the second homes market as a good alternative means of saving for retirement.
"As long as these trends continue, future growth in this market should be guaranteed," says Paul Davies, senior financial analyst at Mintel.

Mintel's research also shows that people's faith in property is generally greater than in pensions. Over a third (36%) of homeowners believe it is actually 'better' to invest in property than a pension, rising to over two thirds (68%) of second property owners.