71% of women in India want to buy houses ready to move in: Survey
Optimal housing affordability, attractive offers from developers, as well as low mortgage rates were seen as the main drivers of sentiment.
Women’s preference for real estate as an investment asset rose to 62% after COVID-19, from 57% in the pre-COVID-19 period, the latest consumer sentiment survey by the property management company Anarock. The survey also found that most female buyers surveyed prefer ready-to-move-in homes, reflecting a strong aversion to the perceived investment risk of properties under construction. Almost 71% of women surveyed want to buy ready-made homes, followed by 11% each for homes that will be available for possession within the next 6 months and newly launched projects.
Out of a total of 3,900 survey participants, 36% of those surveyed were women and of these, at least 70% consider the current time to be the best time to buy a house. Optimal housing affordability, attractive developer offers and discounts, and 15-year low mortgage rates were seen as the main drivers of sentiment.
Most of the women surveyed (82%) plan to buy a house for their personal use and 18% to invest. Among the men surveyed, the end-use / investment ratio was 68:32.
While most women preferred properties priced below Rs 90 lakh (at least 66% female buyers), 5% voted for ultra-luxury real estate priced over Rs 2.5 crore. .
The analysis found that most women preferred higher BHK settings. At least 46% of women were in favor of 3BHK, while 30% looked for 2BHK. Interestingly, 10% were also looking for 4BHK.
Psychological insurance of physical assets influences 31% of women home buyers; 28% responded favorably to the availability of cheaper home loans, and 22% will buy homes due to ongoing offers and deals from developers.
Women also enjoy many benefits when buying a home, including government policies that support and encourage women’s home ownership in India, lower stamp duties, reduced mortgage rates offered by banks , according to the survey.
“The survey reveals that many Indian women now see housing not only as the foundation of financial security, but also as essential for diversifying their investment portfolios. 62% of women surveyed confirmed housing as their preferred asset class – even more than men. 54% of the men who took part in the survey preferred real estate over other options – stock market, fixed deposits and gold, ”said Prashant Thakur, director and head of research, Anarock Property Consultants.