Women Are Key Homebuyers, ~71% Want Ready Homes

<span style="font-weight: 400;">In Indian real estate, every day is Women’s Day now! On the journey from being part of the home buying process to driving it, today's financially strong Indian women emerged as a powerful demographic in </span><span style="font-weight: 400;">ANAROCK's latest consumer

BY Realty Plus
Published - Mar 9, 2021 2:38 AM

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In Indian real estate, every day is Women’s Day now! On the journey from being part of the home buying process to driving it, today's financially strong Indian women emerged as a powerful demographic in ANAROCK's latest consumer sentiment survey published in February 2021. Interestingly, women’s preference for real estate has risen post-COVID-19 – from 57% votes in the pre-COVID survey to 62% in the current edition. Of the total of 3,900 survey participants, 36% of respondents were women and among these, at least 70% consider the current time as ideal for buying a home. Their main sentiment drivers - housing affordability is currently optimal, developers' offers and discounts are attractive, and home loan rates are at a 15-year low. Most surveyed women respondents (82%) plan to buy a home for their personal use, and 18% for investment. Among men respondents, the end-use to investment ratio was 68:32. Interestingly, women’s preference for real estate has risen post-COVID-19 – from 57% votes in the pre-COVID survey to 62% in the current edition. Of the total of 3,900 survey participants, 36% of respondents were women and among these, at least 70% consider the current time as ideal for buying a home. Their main sentiment drivers - housing affordability is currently optimal, developers' offers and discounts are attractive, and home loan rates are at a 15-year low. Most surveyed women respondents (82%) plan to buy a home for their personal use, and 18% for investment. Among men respondents, the end-use to investment ratio was 68:32. The survey also revealed that most polled women homebuyers prefer ready-to-move-in homes, reflecting a strong aversion to the perceived investment risk of under-construction properties. Nearly 71% of women respondents want to buy ready homes, followed by 11% each for homes that will be available for possession in the next 6 months, and newly-launched projects. If we consider the overall survey results for both genders, ready homes had 29% votes in their favour. While most women preferred properties priced within INR 90 lakh (at least 66% women homebuyers), 5% voted for ultra-luxury real estate priced >INR 2.5 Crore. In the overall survey, the 2BHK was the most-preferred configuration - but further analysis reveals that most women preferred higher BHK-configurations. At least 46% of women favoured 3BHKs, and only 30% were scouting for 2BHKs. Interestingly, 10% were also looking for 4BHKs. The psychological assurance of physical assets influences 31% of women homebuyers; 28% responded favourably towards the availability of cheaper home loans, and 22% will buy homes because of ongoing offers and deals by developers.