The ratio is the highest recorded since 2009, with 7% planning to sell their primary residence to fund their retirement.
Rod Aldridge, head of UK wholesale distribution at Barings, said: “It is worrying that the number of people relying exclusively on their property to fund retirement has increased again.
“Property can, of course, form part of a diversified investment portfolio but this year’s research indicates that more people are investing in property as a retirement source and this could mean they are too concentrated in the asset class.
“Property prices can be volatile so relying on your home to provide all your income to fund retirement is risky.”
The number saying they plan to sell or downsize a property to fund all of their retirement has risen to 4% from 2% in 2012.
People living in the West Midlands are most reliant on property as an asset, as 6% plan to sell their primary residence to fund their retirement and 21% anticipate selling or renting other properties.
Wales is less reliant on property, as 5% plan to sell their primary residence to fund their retirement, while just 5% expect to sell or rent other properties.
Rod Aldridge added: “The level of risk involved in expecting to fund your retirement through the use of a volatile asset such as their own home or from other properties such as buy-to-let should be fully appreciated and understood.
“Investing for your retirement is about long-term planning and as people are living longer, more emphasis needs to be put on how a lengthier retirement will be funded.
“It is imperative that people diversify their investments through a range of assets which can, of course, include property.”
Despite a rise in people using property as a retirement source, the number who say it was ‘never planned’ to fund their retirement has risen to 52% from 35% in 2013.
