LONDON— The global equity release market is projected to grow from $17.7 billion in annual releases to $52 billion by 2035, driven largely by expected growth in North America, according to a new report from the European Pensions and Property Asset Release Group (EPPARG) and EY.
The fourth edition of the Global Equity Release Survey examines markets in 14 countries and cities across Europe, North America and Australia, with Hong Kong participating for the first time. Based on 2025–26 data, the report finds that the sector has remained resilient despite geopolitical and economic challenges.
Equity release products allow older homeowners to access some of the value tied up in their properties, providing funds that can help supplement retirement income. The products are increasingly being considered as populations age and traditional retirement savings come under pressure.
Steve Kyle, secretary general of EPPARG, said equity release could help older homeowners maintain financial independence while allowing housing wealth to support wider economic activity. He also emphasized the need for consumer protections and industry standards as the market expands.
The report identifies banks as the primary source of financing for equity release products globally, followed by securitization, insurance companies and debt financing. Although domestic funding is available in most surveyed markets, Italy and Ireland were exceptions. Respondents in several markets identified limited access to funding as a barrier to growth and called for greater participation by institutional investors.
Lifetime mortgages remain the most common form of equity release internationally. These loans allow homeowners to access property wealth while generally retaining ownership of their homes, with repayment typically deferred until a specified event, such as the homeowner’s death or move into long-term care. Home reversion schemes, in which homeowners sell all or part of their property in exchange for cash or other benefits, have gained traction in Poland and Germany.
Product availability also varies by market. Equity release is generally available to customers aged 55 and older in North America, Australia, Hong Kong and the United Kingdom. In most surveyed European markets, the minimum age is typically between 60 and 65.
Lump-sum payments remain the most popular product type globally, while combinations of lump sums and annuities are common in France and Hong Kong. Drawdown and annuity options are also available in some markets.
The report also points to growing use of digital technology, automation and artificial intelligence in the industry. All survey respondents expect to use these technologies for customer due diligence and marketing within five years.
However, the report identifies consumer awareness and understanding as the most common area requiring improvement. Greater education for both customers and industry professionals will be important to expanding the market, the authors said.
Ben Grainger, a partner at EY, said cross-border funding relationships were beginning to help European equity release providers expand their businesses.
Jim Boyd, chief executive of the UK’s Equity Release Council, said housing wealth was becoming an increasingly important consideration in retirement planning, alongside pensions, savings and investments. He stressed that strong consumer protections would be essential to sustainable growth.
Steve Irwin, president of the U.S.-based National Reverse Mortgage Lenders Association, said ageing populations and persistent inflation were placing pressure on retirement security worldwide. Accessing home equity, he said, could help older homeowners support their financial well-being and remain in their homes as they age.
The survey was adopted at an EPPARG meeting in Madrid on Sept. 29, hosted by Óptima Mayores, an equity release advisory and actuarial consultancy firm. Participants discussed opportunities and challenges facing the sector, including funding, consumer protection and the potential for cross-border investment.
