Over a third of adults in Ireland do not expect to own a home outright by the time they retire, research from Royal London Ireland has found.
21% of respondents expect to pay off their mortgage in retirement while 14% said they will not own a home or have a mortgage on one at that stage.
Conversely, 65% of adults in Ireland believe they will own their own home in retirement.
88% of over 55's were most confident of their ability to own their own home by retirement compared to 52% of those aged 18-25, and 57% of people aged 25-34 and 35-44.
However, one in 10 55-year-old's or older expect to be still repaying their mortgage when they retire, while another 10% said when they are retired, they won’t own a home or have a mortgage on one.
By comparison, 40% of 18–24-year-olds expect to still be paying their mortgage in retirement and 8% of this age cohort believe they will never own a home.
Three in 10 Dubliners (29%) said they expect to still be paying a mortgage in retirement compared to 14% in Connacht and Ulster and the nationwide average of 21%.
