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Growing dominance of women homebuyers
Women across urban India are buying property either to diversify their investment portfolios and/or to avail multiple benefits exclusive to women, among other factors. Indian residential real estate is increasingly driven by end-users and women homebuyers are emerging as major contributors towards this trend. The latest ANAROCK-LIC Housing Finance Consumer Sentiment Survey indicates that as many as 77% of women home seekers are looking to buy property for end-use; merely 23% will buy homes as investments. In contrast, approx. 62% of men are looking to buy property for end-use and 38% for investment purpose. Notably, for 87% women end-user homebuyers, these will be their first homes. Anuj Puri, Chairman - ANAROCK Property Consultants says, "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 the workplace' was the top priority for both male and female survey participants looking to buy homes, 35% of the polled women consider suitable amenities within a housing project the second-most important factor. For men, the second-most important factor was the largest size they can afford." Trends also reveal that more and more young women buyers are now coming forward to buy a property. Investment diversification and women-specific incentives are major motivators: Women across urban India are buying a 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 the highest demand: At least 40% women home seekers prefer a property in the mid-segment price bracket with ticket sizes between INR 45-90 lakh, followed by 35% preferring the affordable segment priced within INR 45 lakh. Only 3% o
Oct 1, 2024
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