In principle yes, owning a property is good for your retirement, but you do need to check the numbers.
Basically, there are two types of real estate ownership: owner-occupied residential property or rented investment property.
Both can contribute to a financially secure future.
A home that you live in yourself saves you on monthly rent payments till the end of time. This is a big benefit as rents normally increase every year, and it is hard to find an investment that offsets this other than real estate. For e.g. stocks are volatile and annuities come with huge implicit costs. Moreover, you can bequeath your use or use it for loans. With a property that you rent out, you can benefit from a stable and growing income, especially once your mortgage is paid off. You can also sell it or borrow against it for further investments.
But you need to keep in mind that a house or apartment must be maintained, and renters need to be found if it is an investment.
All in all, real estate is often a very useful component of a good retirement plan, but how useful it is depends on the interest rates for mortgages and the rental yield. In addition, for some people, owning their home is ideal as it gives safety and the freedom of change. At the same time, it is not for everyone.
Discover your options with the Pensionfriend Pension Plan.