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Women homebuyers outnumber men for end-use: Survey

The Rs 45-90 lakh category is the most preferred budget range for prospective women homebuyers.

Image: Unsplash/Mimi Thian
Image: Unsplash/Mimi Thian

A good 77 percent women homebuyers are end-users themselves  compared to 62 percent men with a similar objective, a survey by Anarock has found out.

Notably, for 87 percent women end-user homebuyers, these will be their first homes.

'Proximity to workplace' was the top priority for both male and female survey participants looking to buy homes, 35 percent 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, the survey by Anarock said.

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The Rs 45-90 lakh category is the most preferred budget range for prospective women homebuyers. MMR is first choice for at least 26 percent women among all major cities, followed by 22% in NCR, the survey said.

As many as 20 percent women said that Bengaluru was their primary choice. Pune was next with 12 percent votes in its favour, followed by Kolkata, Chennai and Hyderabad with 8 percent, 5 percent and 3 percent votes respectively. Only 5 percent women prefer to invest in tier-2 and 3 cities, the survey said.

At least 40 percent women homeseekers prefer a property in the mid-segment price bracket with ticket sizes between Rs 45-90 lakh, followed by 35 percent preferring the affordable segment priced within Rs 45 lakh. Only 3 percent women will consider buying luxury properties priced over Rs 1.5 crore - as against 12 percent men who prefer to buy within this category, the survey said.

Almost half the women respondents prefer spacious 2 BHKs with sizes 800-1,200 sq. ft. area, the survey noted.

Almost 38 percent men buy for investment while 23 percent women homeseekers buy property for investment, it said.

Trends also reveal that more and more young women buyers are now coming forward to buy a property. As many as 47 percent women property seekers polled in the survey were in the age bracket of 25-35 years, followed by 41% in the 35-45 years age. Interestingly, 5 percent women property seekers were also aged within 25 years. In contrast, 47 percent male home seekers were in the 35-45 years age bracket while 34 percent were in the 25-35 age category.

The survey also said that women are more brand conscious than men: As many as 60% women prefer buying homes from branded developers; male participants’ preference is equally divided between branded and non-branded developers – almost 50 percent each, the survey said.

Ready properties or those nearing completion within 6 months top choice. At least 56 percent women will only consider buying such homes, followed by 26 percent open to buying properties that will be completed within a year. Merely 18 percent preferred newly-launched projects, the survey said.

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First Published on Mar 4, 2020 04:34 pm
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