Women trailblazing property investment.

The real estate landscape is witnessing a significant shift as more single women take charge of their financial futures by investing in property. This trend reflects a broader movement towards female empowerment in the housing market, with women emerging as formidable players in buying and selling homes.

Women are becoming a growing force in the property market

In recent years, there has been a notable surge in the number of single women entering the property market. Data from BetterBond reveals that in 2023, more solitary women secured loans to purchase homes than single men. This trend demonstrates the increasing influence of women in driving market activity and shaping the future of real estate.

Furthermore, the Global Sheconomy Research Report 2022 says women are emerging as the leading decision-makers regarding consumer spending, with real estate being one of their main focuses.

Data insights on single women buyers

According to BetterBond's data, many lone female buyers are young black women under 40. This demographic represents a growing segment of the market, challenging traditional notions about homeownership and financial independence. Bradd Bendall, BetterBond's interim CEO, spoke about how providing women with the expertise and opportunities to make informed decisions about their property purchases will continue to push these numbers.

"Given the opportunity and equipped with the expertise they need to make decisions that best fit their needs, women buyers have the buying power to take the residential property market by storm," says Bendall.

Majority of residential housing stock by women

A significant milestone in this trend is that women now possess at least 60% of the country's residential housing stock. This statistic, supported by insights from Lightstone, highlights women's growing role in the housing market and their increasing share of property ownership.

Younger women trailblazing property investment

While most women buyers fall within the 36 to 49 age range, many younger women are leaping into property investment. Bendall notes that younger black women, in particular, are demonstrating a proactive approach to homeownership, challenging stereotypes and asserting their financial independence at a younger age.

Bond pre-approval and investment in new developments

Securing bond pre-approval is a critical first step for single women looking to purchase their own homes. This allows them to determine their affordability upfront and streamline the buying process. Additionally, investing in new developments where transfer duties may not apply can offer financial advantages to women buyers, further facilitating their entry into the property market.

Banks are now offering tailored loan products for women

Recognising women's growing influence in the property market, South Africa's central banks are rolling out tailored loan products to cater to their specific needs. These offerings include loans of up to 110% for young professionals under 30, providing additional support to women seeking to achieve homeownership. This shift reflects a broader acknowledgement of women's financial capabilities and importance as key real estate industry stakeholders.

With tailored loan products and support from financial institutions, women are well-positioned to thrive as active participants in the real estate sector, contributing to wealth creation and of South Africa's economic growth.

Contact Ikonic Real Estate today.

For Real Estate professionals you can trust and rely on for industry-related expertise, contact us below for more information.

If you are looking to live in Silver Lakes Golf and Lifestyle Estate, Silver Stream Estate, Lombardy Estate & Health Spa, The Ridge Estate, Six Fountains Estate, or Willow Acres Estate and surrounding areas, then Ikonic Real Estate is your preferred property practitioner to assist you in all aspects of the selling and buying process.

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Email: martin@ikonic.co.za

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