- Date : 28/09/2021
- Read: 4 mins
Find out how Indian women of different income and age groups are investing in real estate.
Women and men seem to have very different attitudes when it comes to investing in real estate. A recent survey showed that 77% of women buy a property with the goal of end-use, but only 62% of men do so. And when it came to purchasing real estate for investment purposes, only 23% of women were found investing in real estate as opposed to 38% of men. These numbers show the stark differences in the investment patterns of men and women. Let’s examine these differences more closely and see how the women of today are investing in real estate.
Women play an active role in home purchase decisions
Female members of a family have an integral role to play in the purchase of a home. About 74% of all residential real estate decisions involve women. Women are known for their attention to detail, and this is visible in their attitude towards real estate. Women are well aware of clauses in the agreement of sales, legal rights and duties of buyers and allottees, the process of registration and stamp duty of the property, and other necessary procedures.
Many single women are investing in real estate
A lot of single women are investing in homes. However, there are a couple of things that they keep an eye on while picking a suitable house for themselves. The first is proximity to work. Single women prefer localities that are close to their work to reduce time spent on commuting. A lot of women are buying ready-to-move-in apartments near their offices to optimise their schedule and be closer to work opportunities that can help them earn more.
Moreover, most women who are seeking real estate investments are young. About 47% of women property buyers are between the ages of 25 and 35, while 41% are between 35 and 45. Only 5% is under 25 years. Contrarily, men are more inclined to invest in real estate at a later age. Only 34% of men between 25 and 35, and 47% of men between 35 and 45, are buying real estate.
They evaluate a host of factors before buying property
Schools and colleges in the vicinity of the property are a major consideration for most women, especially those who are married and have children. Women also look at factors such as healthcare, offices, banks, ATMs, entertainment, and markets. Apart from this, the amenities available at the residential property, aesthetic appeal of the house, functionality, and modernity are other aspects women pay attention to while investing in a house.
They have a preference for branded builders
According to a recent survey, a whopping 87% of women prefer buying real estate from branded and well-known builders. On the other hand, only 50% of the men who participated in the survey claimed to prefer branded builders over others.
Most prefer affordable, ready-to-move-in homes
About 56% of women prefer fully constructed homes. 26% are willing to purchase a house that would be completed in a year, and 18% prefer newly launched projects. In terms of price, 40% of women prefer properties between Rs 45 lakh and Rs 90 lakh, followed by 35% who prefer houses within Rs 45 lakh. Only 3% showed an interest in luxury properties costing over Rs 1.5 crore.
Some cities are more preferred than others
Mumbai is the most preferred city for real estate purchases, with 26% of women citing it as their first choice. The National Capital Region (NCR) is a close second, with 22% of women showing a keen interest in the area. Around 20% of women picked Bengaluru, and 5% of women picked tier-2 and tier-3 cities across the country.
Portfolio diversification and tax savings are encouraging more and more urban women to invest in real estate. Lower home loan interest rates for women are also enabling women to invest in a house. Other things that motivate women to invest in real estate are their own financial security and that of their children and other loved ones.