Women’s preference for real estate as an investment asset has risen post-COVID-19 to 62% from 57% during the pre-COVID-19 period, the latest consumer sentiment survey by property management firm Anarock has revealed. 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.
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. Optimal housing affordability, attractive developers' offers and discounts, and home loan rates which are at a 15-year low, were considered to be the main sentiment drivers.
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.
While most women preferred properties priced within Rs 90 lakh (at least 66% women homebuyers), 5% voted for ultra-luxury real estate priced at over Rs 2.5 crore.
Analysis revealed that most women preferred higher BHK-configurations. At least 46% of women favoured 3BHKs, while 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.
Women also enjoy multiple benefits when purchasing homes, including government policies that support and promote women homeownership in India, lower stamp duty, discounted home loan rates offered by banks, the survey stated.
“The survey reveals that many Indian women now consider housing not just the bedrock of financial security but also essential to diversify their investment portfolios. 62% of women respondents confirmed housing as their preferred asset class - even more than men. 54% of men who participated in the survey preferred real estate above the other options - stock market, fixed deposits and gold,” said Prashant Thakur, Director & Head – Research, Anarock Property Consultants.