A recent survey by Anarock, a leading property consultancy firm in India, indicates a significant shift in residential property buying trends among women. The survey, titled "Anarock Consumer Sentiment Survey," found that a whopping 78% of women homebuyers in India are prioritizing purchasing properties for their own use rather than for investment purposes. This figure represents a rise from 74% in the second half of 2021, highlighting a growing preference for owner-occupation among female property buyers.
The survey findings come amidst a backdrop of increasing financial independence among Indian women. Government initiatives promoting women's homeownership, such as lower stamp duty for properties registered in a woman's name and special housing loan programs, are believed to be contributing factors.
Anarock's Vice Chairman, Santhosh Kumar, emphasized the evolving role of women in the Indian property market. "Women are no longer simply influencing homebuying decisions," he stated. "They are independent decision-makers, actively purchasing properties to meet their residential needs or build their investment portfolios."
While a significant majority prioritize end-use, the survey also underscores the continued appeal of real estate as an investment option for women. Interestingly, 61% of the women surveyed identified housing as their preferred investment asset class, compared to 16% who favored the stock market and 14% who opted for gold.
The survey encompassed over 5,500 participants, with women representing half of the total respondents. This balanced sample size strengthens the validity of the results regarding women's homebuying preferences.
Interestingly, the survey also sheds light on the property configurations favored by women homebuyers. A clear preference emerged for spacious living environments, with 57% of women respondents expressing a desire for 3-bedroom apartments (3 BHKs). This was followed by 29% who indicated a preference for 2-bedroom apartments (2 BHKs).
Anarock's survey results resonate with the growing emphasis on women's empowerment in contemporary India. Financial independence and a burgeoning sense of self-reliance are fueling a new wave of female homeownership, with women increasingly making independent decisions concerning their living spaces and investment strategies. As this trend continues, the Indian real estate market can expect to see a growing demographic of women shaping its future.