‘Women own more property than men’
Women continue to outnumber men when it comes to homeownership – report.
Lightstone Property reports that women have bought more properties than men in every quarter from Q1-2019 to Q2-2021, either by themselves or in partnership with men.
According to Regional Director and CEO of RE/MAX of Southern Africa Adrian Goslett, this comes as no surprise.
“Over 60% of the traffic to remax.co.za are female. Our partners at BetterBond also report that 41% of their clients in 2020 were females. Overall, 38% of BetterBond clients were married and 43% were single. From this, we understand that women, both married and unmarried, tend to be the drivers behind the decision to purchase property.”
The latest report from Lightstone Property reveals that from 2019 to Q2 2021: “Female only buyers account for between 22% to 23% of all transfers by private individuals and when combined with joint male-female purchases, the number rises to between 49% to 50%”.
Adrian said that it is encouraging to see that so many women are making the necessary sacrifices to ensure that they can afford to purchase property.
“For most South Africans, buying a home is not an easy feat. It takes careful planning and budgeting to ensure that one is able to afford this purchase,” he commented.
Despite this, Adrian highlighted the value of owning property.
“Real estate is such an important aspect for future wealth and financial security – especially for those living on a single income. Having an appreciating asset in one’s name allows for so many opportunities to further one’s financial standing, whether this takes the form of leasing the space for rental income, selling the home to enjoy the profits, accessing more affordable financing through an access bond facility, or having the home stand as collateral when applying for credit. While there are risks associated with each of these scenarios, gaining the advice of reliable professionals – such as real estate agents, financial advisors, and bond originators – can help mitigate the risks and maximise the potential returns,” Adrian recommended.
