The provider asked older homeowners about their plans following the introduction of new pensions rules. One in seven respondents said they were planning to buy as a direct result of these changes.
In total, 37% of people over-55 said they planned at least one more property purchase in their lives.
Prudential said this would represent more than three million property transactions worth more than £775bn.
More than one fifth of people said they would be buying a property that they do not plan to live in, with a tenth of homeowners saying the new pensions rules have contributed to this decision.
Most buyers would spend more than £250,000 on a property, with 20% saying they are willing to spend £350,000 or more.
Stan Russell, retirement expert at Prudential, said older people needed to consider their financial options.
“There was a lot of speculation that the pension freedoms would spark a rush of over-55s investing in buy-to-let property as a means of generating income in retirement. However our research suggests that this hasn’t yet been the case,” he said.
“Using money raised from a property sale could prove to be a helpful boost to retirement income for some. But it’s no substitute for starting to save as early as possible to prepare for eventual retirement.”
Russell added: “In fact the process of withdrawing cash from a pension fund to purchase property and potentially generate an income is complex and could result in a large tax bill.”