Closing the gender gap: Residential real estate to witness a steep increase in female investors
October 1st, 2018
Real estate is becoming the preferred market instrument and investment choice for women due rising disposable income, equal opportunities at the workplace and increased access to information. With the prominence of gender equality and corresponding property tax cut for female buyers in some states, women are coming to the forefront in terms of investing in real estate. This has changed the profile of real estate buyers in India.
Female investors in general and single women, in particular, have emerged as the most critical segment of property buyers across India. A leading report* states that 32% of buyers across the country are single women. Bangalore, Mumbai and Hyderabad are the preferred locations. Single young women in India, who earlier spent their income on materialistic products, believe in asset creation now, which explains the increase in a number of female buyers, below 35 years. Factors such as location, quality of construction, security and privacy, and club facilities also played a major role in decision making among women. Projects by Adarsh Developers tick all these boxes, becoming an ideal solution for female investors.
A majority of female buyers look to buy the properties for themselves. Special benefits provided to women home buyers and the awareness to diversify their investment portfolio plays a key role in the choice of real estate as a viable option. Concessions are available for women at every stage of buying a property, whether it be funding, selecting a home, registration and stamp duty. The market of female home buyers is expanding along with the benefits, thereby creating a virtuous cycle.
Several factors like local developers tying up with banks for innovative offers, reduced registration charges and special projects catering to only women property buyers are acting as incentives for women to invest in property. Even in the near past, an Indian woman owning a house meant owning an ancestral property or helping their husbands to buy a home. A rapid paradigm shift has seen more women who are financially independent play an active role in the decision-making process of buying a property and significantly contribute towards it.
Investing in property is no longer a male-dominated space; women are becoming more active and successful as investors taking control of their financial future. Banks and financial institutions are increasingly recognizing that women are becoming savvy about managing their finances, with several lenders now offering specific, female-oriented advice and services.
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