An increasing number of Indian women are buying real estate, making independent and individual investments in the sector. Interestingly, there is an upward movement towards buying more premium and luxury properties.
According to the latest ANAROCK Consumer Sentiment Survey, real estate is now the preferred investment asset class for 64% of women respondents, an increase of 200 basis points since the last study conducted in the second half of 2020 and much higher compared to 57% in the pre-Covid-19 survey of 2019.
Interestingly, most of the women respondents are buying large configuration houses with three- and four-bedroom homes being a preferred choice. About 41% of women respondents said they are opting for these, while 11% are looking for houses bigger than 4BHKs. This was followed by 36% women buying two-bedroom flats, the survey says.
There has been an upward movement in the choice of price range too. The same survey last year had found that affordable and mid-segment homes priced within Rs 90 lakh were the top pick of participating women home-seekers, with nearly 66% voting for this budget range.
However, this time, at least 67% of women home-seekers will buy properties priced in the Rs 45 lakh to Rs 1.5 crore market. Of this, close to 34% are focusing on a budget range between Rs 90 lakh and Rs1.5 crore, followed by 33% preferring homes within the Rs 45 lakh to Rs 90 lakh budget bracket.
There has also been a marginal rise of two percentage points in demand for ultra-luxury property priced over Rs 2.5 crore — from 5% in the H2 2020 survey to 7% in the current H2 2021 edition.
Anuj Puri, chairman, ANAROCK Group, said, “While traditionally, women have always been an integral part of 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. Now, we see that the pandemic has also influenced their property preferences.”
There has also been an increase in women looking at real estate from an investment perspective. Of the total women respondents looking to buy homes, around 26% declared investment as their primary motivator, while 74% had an end-user perspective. In contrast, a year ago, the survey showed an end-use versus investment ratio of 82:18. “Their strengthening investment sentiment is a clear indicator of women’s increasing financial independence,” Puri said.
A significant 79% of women respondents prefer either ready-to-move homes or properties to be completed within the next six months. Over 10% of women respondents are looking to buy properties in newly launched projects, while another 11% will purchase homes in projects scheduled for completion in more than one year.
