Prop­erty Smarts

Premier Magazine (South AFrica) - - Contents - Text: Mike Gre­eff, CEO of Gre­eff Christie’s In­ter­na­tional Real Es­tate Im­age © istockphoto.com

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.

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