As many as 77 per cent women house seekers are looking to buy property for end-use while merely 23 per cent will buy homes as investments. In contrast, about 62 per cent men are looking to buy property for end-use and 38 per cent for investment purpose.
“Indian residential real estate is increasingly driven by end-users - and women home buyers are emerging as major contributors towards this trend. Notably, for 87 per cent women end-user homebuyers, these will be their first homes,” said Anuj Puri, Chairman – Anarock Property Consultants.
“The growing dominance of women homebuyers has been an ongoing phenomenon over the last few years, especially in urban centres. Now, their preferences are also distinctly shaping newer trends. While ‘proximity to workplace’ was the top priority for both male and female home buyers,” he added.
Sharing the Anarock’s latest Consumer Sentiment survey, Puri said that the survey revealed that more and more young women buyers are now coming forward to buy a property. Over 47 per cent women property seekers polled in the survey were in the age bracket of 25-35 years, followed by 41 per cent in the 35-45 years age. Interestingly, 5 per cent women property seekers were also aged within 25 years. In contrast, 47 per cent male home seekers were in the 35-45 years age bracket, while 34 per cent were aged between 25-35 years.
Women homebuyers’ preferences
* MMR the most-preferred city: On being asked about the city they would like to invest in other than where they are currently residing, at least 26 per cent of the polled women voted for MMR as the top choice among all cities, followed by 22 per cent preferring NCR and 20 per cent stating Bengaluru as their primary choice. Pune was next with 12 per cent votes in its favour, followed by Kolkata 8 per cent, Chennai 5 per cent and Hyderabad 3 per cent votes and 5 per cent women prefer to invest in tier 2 & 3 cities.
* Investment diversification and women-specific incentives are major motivators: Women across urban India are buying property either to diversify their investment portfolios and/or to avail multiple benefits exclusive to women. These range from tax benefits to reduced home loan interest rates by some banks, and also reduced stamp duty and registration charges across different states.
* Mid-segment housing is in highest demand: At least 40 per cent women home seekers prefer a property in the mid-segment price bracket with ticket sizes between ₹45-90 lakh, followed by 35 per cent preferring the affordable segment priced within ₹45 lakh. Only 3 per cent women will consider buying luxury properties priced over ₹1.5 crore — as against 12 per cent men who prefer to buy within this category.
* Spacious 2 BHKs the top choice: A whopping 50 per cent women prefer to buy large 2 BHKs sized between 800-1,200 square feet area, against just 13 per cent voting for small 2BHKs within 600 sq ft. With MMR the top city for women investors, the preference for larger sizes is remarkable and stands testimony to increased purchasing power.
Women more brand conscious than men: 60 per cent women prefer buying homes from branded developers; male participants’ preference is equally divided between branded and non-branded developers – ie 50 per cent each.
* Ready properties or those nearing completion within 6 months top choice: At least 56 per cent women will only consider buying such homes, followed by 26 per cent open to buying properties that will be completed within a year. Merely 18 per cent preferred newly-launched projects.