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Most Women Homebuyers Are End-users

Torbit - March 16, 2024 - - 0 |

While end-users continue to dominate the residential real estate market with a much higher share compared to investors, the majority of the women homebuyers are buying property for personal use.

According to a recent consumer sentiment survey by Anarock Group,  more women than ever before are financially empowered to buy their own homes. They are no longer mere influencers in the home buying process but independent decision-makers and are buying homes for self use or for investment purposes. Lower stamp duty for properties registered in a woman’s name and special housing loan schemes are serving as a trigger for women to invest in residential real estate.As per Anarock Consumer Sentiment Survey, a whopping 78 percent women homebuyers prefer to buy homes for end use  compared to 22 percent for investment.In H2 2021,In H2 2021, the end use vs investment ratio stood at 74:26.

Notably, 3BHKs are the most favoured configurations for a significant 57 percent women respondents, followed by 29 percent of women home seekers going for 2BHKs. Around 9 percent are looking for 4BHK configurations or larger homes.

In terms of budget range, nearly 36 percent  women home seekers prefer to buy mid-segment housing (priced INR 45 – 90 lakhs), followed by 28 percent preferring premium homes priced between INR 90 lakhs and INR 1.5 Cr. A significant 23 percent prefer to buy luxury homes priced upwards of INR 1.5 Cr, and just 20 percent will settle for affordable homes priced below INR 45 lakhs.

While the survey finds that 24 percent of all polled home seekers now prefer newly launched properties,  just 15 percent of women prefer homes in newly launched projects. A massive 71 percent of women go for properties that are either ready or to be completed within the next six months. This clearly indicates that the majority are buying for immediate self-use.

While the government has been prioritizing women’s homeownership through its flagship PMAY(Pradhan Mantri Awas Yojana) scheme, large numbers of independent urban women have also come to the market to buy homes. The survey reveals that a greater number of women are buying their own homes because they want to feel safe and independent especially as more single women are living alone and in nuclear families.

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