The European Pensions and Property Asset Release Group (EPPARG) and EY have today published the fourth edition of its Global Equity Release Survey report. The report highlights that the equity release market has remained robust at a global level, despite geopolitical headwinds, and remains on track to more than double in size by 2035. The global market is expected to reach $52 billion by 2035, as compared to current volumes of $17.7 billion, to be driven primarily by strong projected growth in North America.
The report, which is based on figures for 2025/26, analyses data received from market leaders across 14 countries and cities internationally with established or developing equity release markets, and explores their growth potential. The 14 countries and cities span Europe, North America and Australia, which are among the largest equity release markets in the world, and Hong Kong has also participated in the survey for the first time.
The survey report was adopted at an EPPARG meeting in Madrid, Spain, on 29 September, which was hosted by the equity release advisory firm, actuarial consultancy and EPPARG member Óptima Mayores, where members gathered to discuss current opportunities and challenges for the sector.
The key findings of the survey include the following:
- Global equity release markets continue to be robust, despite challenging market conditions, with ageing populations growing in many parts of the world.
- $17.7bn 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 $52bn in annual releases.
- Financing for equity release products at a global level is provided primarily by banks, with securitisations in second place, followed by insurance companies and debt. Financing is available at a domestic level in most markets surveyed except Italy and Ireland, with a majority of respondents anticipating that domestic funding would increase over the coming years. In markets where funding is a bottleneck, there was a call for more institutional investors to enter the space.
- Lifetime mortgages continue to be the most common type of equity release across the globe, while in Europe home reversion schemes have gained particular traction in Poland and Germany.
- Equity release products are currently available to customers aged 55 and above in North America, Australia, Hong Kong and the UK, while most respondents from Europe indicated that the product is normally available as from the age of 60 to 65. Face-to-face contact with the customer is made in all markets globally.
- Lump sum products remain the most popular product globally, with combination products of lump sum and annuity being taken out by a majority of customers in France and Hong Kong. Annuity and drawdown products are also available in a number of countries.
- Digitalisation, automation and AI are playing an increasing role in equity release provider processes, with all respondents expecting to use them for customer due diligence and marketing within 5 years.
- The need for increased customer awareness and understanding was the most common theme cited by respondents to enhance the prospects of future growth, highlighting a continuing need to educate both consumers and industry professionals about the benefits and options in the market.
Commenting on the survey findings, Steve Kyle, Secretary General of EPPARG, said:
“The results of the survey show equity release markets remain strong with continuing opportunities for significant growth and huge medium to long term potential, despite geopolitical challenges globally.
We strongly believe the challenges of ageing populations in many countries will lead to unsustainable social, economic and intergenerational costs. A safe equity release market has a vital role to play in later life lending and planning, with many elderly homeowners across the globe wishing to remain independent for longer. Allowing elderly homeowners to draw on their housing wealth as an asset also unlocks significant economic and social benefits with the money released going directly into the economy, helping to create jobs, businesses and wider wealth.
To make the most of future potential, it will be important to ensure that proportionate consumer-focused industry standards are in place, which not only protect consumers, but also contribute to an enabling environment to foster innovation. We are pleased to see more interest from new innovative start ups and from more established businesses in developing their national markets and exploring cross-border funding and market entry possibilities. Since a lack of funding remains a major barrier to growth in a number of European countries, we would like to encourage the involvement of socially aware funders and investors to enter this space which will drive both commercial and social benefits.”
Ben Grainger, Partner at EY, said: “Momentum is growing in the European equity release market with cross-border funding relationships starting to give equity release providers the firepower they need to scale. We look forward to continuing to support global collaboration in this sector and unlocking the potential of equity release to transform retirements around the world.”
Jim Boyd, CEO of the Equity Release Council, which represents the UK equity release sector, said: “We welcome EPPARG and EY’s Global Equity Release survey findings which reflect our expectations for the UK equity release and later life lending market.
With estimates that £15 million UK citizens have inadequate savings to achieve a moderate standard of living in retirement, there is recognition that property wealth must form a part of any retirement funding solution. Indeed, the UK’s regulatory body, the Financial Conduct Authority, has described housing wealth as the “fourth pillar” of retirement planning, alongside pensions, savings and investments.
A consumer focussed market underpinned by high standards are key to the growth of a vibrant and sustainable market. We are incredibly proud that the standards we have established over 35 years are recognised globally as the ‘gold standard’.”
Steve Irwin, President of the National Reverse Mortgage Lenders Association (NRMLA), said:
“Retirement security is coming under increasing pressure worldwide as aging populations and persistent inflation place greater strain on traditional retirement systems. This report offers a measure of optimism by highlighting the growing importance of housing wealth as a source of financial security. The ability to access and monetize home equity will play an increasingly important role in helping older homeowners sustain their financial well-being and remain in their homes as they age.”
The survey report is available at:
https://epparg.org/wp-content/uploads/2026/10/Global_ERM_Survey-2026-FINAL.pdf
The report is based on data collected from equity release market players in the following 14 countries and cities: Australia, Canada, France, Germany, Hong Kong, Italy, Ireland, the Netherlands, Norway, Poland, Spain, Sweden, the UK and the USA.
