Women are catching up to their male counterparts when it comes to purchasing in the property market, and are becoming leaders in property investment.
The past decade has seen a significant increase in the number of female buyers in the South African property market. According to a report by FNB, women in property are catching up to men in all aspects of home ownership, including investing, with figures showing single women making up an estimated 10.3% of buyers‚ while single male buyers top out at seven percent. As South African women climb the career and wealth ladders, they are making use of their money wisely.
Greeff Christie’s International Real Estate has seen a steady increase of women in the property market over the past 10 years. This is encouraging as the property market is an excellent place in which to invest.
According to a report by FNB, women in property are catching up to men in all aspects of home ownership, including investing, with figures showing single women making up an estimated 10.3% of buyers.
Greeff Christie’s International Real Estate would encourage everyone to consider property as an investment and as a wonderful way to diversify your investments.
The results of a recent South African census show that even though the average South African household is still headed by a man, the number of female breadwinners is on the increase and is currently at 16%. Stats SA recorded the number of households headed by single women at about 14%.
With more disposable income available to them, greater numbers of women have been able to invest in residential property in recent years. Statistics reported by Private Property show that 91% of the women respondents were actively involved in the home buying decision process and that of the women interviewed, 46% would make the decision to purchase by themselves.
Security estates or sectional title units prove to be the most popular choice as they tend to have sufficient security including high walls, security gates, electric fences, and more often than not an alarm system that is linked to a reputable armed-response company or on-site security.
Another factor that women buyers take very seriously is home maintenance and the need to avoid any unnecessary complications in that regard. With this being said, most women buyers tend to buy new homes or homes in very good condition. As with most other demographics, they also pay special regard to homes that are eco-friendly and feature smart design.
Ultimately, the statistics show that women are snapping up good investment properties, and they are taking the buying of homes into their own hands. Women are choosing to establish themselves in their careers and as a part of that process they would be building up a wealth portfolio including investment property and, in some instances, diversifying their property by investing in different types, sizes, and property locations.
It is fantastic to see the gender gap closing when it comes to South Africans buying property, and we hope to see more women choosing to diversify their investment portfolio with property.