Women take lead over men in buying new homes; this is the key driver

The women have emerged as major homebuyers in the Indian residential real estate sector,  a survey said.

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The women have emerged as major homebuyers in the Indian residential real estate sector,  a survey said. While as many as 77 per cent women home seekers are looking to buy property, nearly 62 per cent men are doing such, the survey by ANAROCK Property Consultants said. Only 23 per cent women will purchase homes as investments, 38 per cent men will do so, it added. “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 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”, Anuj Puri, Chairman, ANAROCK Property Consultants, said.

“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% women will consider buying luxury properties priced over INR 1.5 Crore – as against 12% men who prefer to buy within this category,” the report added.

Meanwhile, the economy is seeing a slowdown for some time now on account of a slew of factors, both domestic and global. The government announced various measures to prop up the realty sector in the past few months. Even the budget 2020 promised many new measures to boost the growth of the sector including new funds.

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