The European Pensions and Property Asset Release Group (EPPARG) and EY have today published the third edition of its Global Equity Release Survey report. The report predicts sustained growth over the next 10 years, despite economic headwinds, with the market more than doubling in size. The global market is expected to reach $56 billion by 2035, as compared to current volumes of $17 billion.
The report, which covers the period 2024/2025, analyses data received from market leaders across 13 countries internationally with established or developing equity release markets and explores their growth potential. The 13 countries span Europe, North America and Australia, which are among the largest equity release markets in the world.
The survey findings were recently previewed at an EPPARG session on navigating global challenges and opportunities at the Later Life Lending Summit, hosted by the UK Equity Release Council, held in London on 13 May.
The key findings of the survey include the following:
- Global equity release markets continue to be resilient, despite challenging market conditions.
- Over $17bn of equity is currently released each year for homeowners, among the countries analysed. This is set to rise significantly by 2035, when the global equity release market is expected to reach $56bn in annual releases.
- Banks continue to be the most common source of financing for equity release mortgages globally, as in previous years, followed by insurance companies, securitisations and debt.
- Lifetime mortgages remain the most common type of equity release, which are available in the majority of countries covered by the survey, followed by home reversion schemes.
- Equity release products are typically available to customers from the age of 55 or 60 years old, with a mix of fixed and variable rates offered. There is face-to-face contact with the customer in most countries.
- Lump sum products continue to be the most popular product globally, while annuity and drawdown products are available in a number of countries. Combination products, of lump sum and annuity, are starting to emerge in some European countries.
- A lack of knowledge and awareness of the product was regarded as the primary barrier to future growth, followed by funding challenges, notably in European countries, and higher interest rates. It was noted that there is a need to educate both consumers and industry professionals about the benefits and options in the market.
- In markets where a lack of funding is the bottleneck, there was a call for institutional investors to enter the space.
Commenting on the survey findings, Steve Kyle, Secretary General of EPPARG, said:
“The survey results highlight that the global opportunities for equity release markets remain strong and that it continues to offer significant growth potential.”
“In terms of the drivers of demand, we believe that the challenges of ageing populations in many countries will lead to unsustainable social, economic and intergenerational burdens. We consider that part of the solution is the development of a safe equity release market. A key role in that development is to ensure there are consumer-focused industry standards, which not only protect consumers, but also contribute to an enabling environment to foster innovation and encourage the involvement of new entrants and socially aware funders and investors.
Enabling elderly homeowners to draw on their housing wealth as an asset unlocks significant economic and social benefits, as borne out by the feedback of our EPPARG members across Europe, whether innovative start-ups or more established businesses. Drawing on their housing wealth allows elderly homeowners to enjoy a more independent and comfortable later life, while the money released is often injected directly into the local economy, helping to create jobs, businesses and wider wealth.
The challenges or barriers for equity release, in Europe and beyond, remain raising awareness, ensuring that property assets are part of the pension planning process and getting the funding models aligned to meet future demand, since a lack of funding remains a major barrier to growth in a number of European countries.
As a global report, for completeness, we understand that drivers for demand and opportunities for growth of equity release are strong in the western world, yet we also see the potential for significant growth in India and across Asia.”
David Burrowes, Chairman of the UK Equity Release Council and EPPARG Board Member, said:
“This survey resonates with the Council’s recently commissioned research by Fairer Finance about how housing wealth can bridge the later life funding gap. At the heart of the recommendations and survey is the need for greater customer awareness and increasing consumer confidence based on standards and innovation which support good consumer outcomes.”
Ben Grainger, Partner at EY, said:
“The global equity release market has the potential to transform the retirements of thousands of people around the world. To unlock the potential, the market needs to deepen and more fully establish cross-border collaboration by sharing funding models and sources, and developing better practice customer standards. The progress that has been made to date is encouraging, and we look forward to working with clients around the world and supporting further growth and expansion.”
Steve Irwin, President of the National Reverse Mortgage Lenders Association (NRMLA) of the USA said:
“Ensuring a safe and financially secure retirement for our aging populations is something governments across the globe are aspiring to through public and private-sector innovation. The monetization of home equity is one solution that continues to gain traction as indicated through this very important report. We look forward to continuing our collaboration with EPPARG to share and explore best practices for monetizing home equity for this critically important endeavor.”
The survey report is available at: https://epparg.org/wp-content/uploads/2025/06/20242025-Global-Equity-Release-Survey.pdf
The report is based on data collected from equity release market players in the following 13 countries: Australia, Canada, France, Germany, Italy, Ireland, the Netherlands, Norway, Poland, Spain, Sweden, the UK and the USA.
