Women are fast emerging as major drivers, with increasing number of women making independent and individual investments in the real estate sector. Women are today the key home purchase decision makers.
According to the latest ANAROCK Consumer Sentiment Survey, real estate is now the preferred investment asset class for 64% of women as against 62% in the last study (H2 2020) and 57% in the pre-Covid survey (H2 2019).3BHKs are the most favored configurations for approx. 41% women, followed by 36% women home seekers preferring 2BHKs. At least 11% are looking for 4BHK or even larger homes. Over 38% women home seekers prefer the city peripheries while 30% want homes within the city limits. Only 11% are eyeing the City Centres.
With regard to categories, 67% women home seekers prefer buying properties in the mid and premium segments ( Rs 45 lakh- Rs 1.5 crore). Of this about 34 % focus on budget range (between Rs 90 lakh -Rs 1.5 crore), followed by 33% preferring homes within the Rs 45 lakh-Rs 90 lakh budget bracket. Interestingly, last year homes priced within Rs 90 lakh were their top pick. Moreover there is a marginal rise of 2% in demand for ultra-luxury homes in the price bracket of Rs 2.5 crore-Rs 5 crore. A very significant 79% women prefer ready-to-move or nearing completion (within six months) properties. Over 10% women are looking to buy property in newly launched projects.
While traditionally, women have always been an integral part Indian families’ homebuying process, the trend of women as independent buyers and investors with distinct choices is a more recent phenomenon. Women’s affinity to housing purchase has increased markedly since the pandemic – from 57% votes in pre-COVID-19 survey to nearly 64% in the current edition. The pandemic has also influenced their property preferences.
There has also been an increase in women looking at real estate from an investment perspective. As many as 26% women consider investment their primary aim, while 74% invest with an end-user perspective. Contrastingly, a year ago, just 18% women preferred to buy home for investment purpose. Their strengthening investment sentiment is a clear indicator of women’s increasing financial independence.