DStv Channel 403 Friday, 22 November 2024

Women take lead in property market

JOHANNESBURG - As more women enter the workforce, their increased financial independence has empowered them to buy their own property.

This has resulted in first-time female home-buyers surpassing their male counterparts.

What’s surprising to note though is that while sectional title properties are gaining ground, the majority of female applicants are still opting for free-standing homes.

READ: Property market | Interest rates hamper bond approvals

"When it comes to our repeat buyers, women are looking to create an investment portfolio that tracks at about 65 percent of properties being purchased which are free-standing as opposed to sectional titles," said Careen Mckinon, Head of Sales at Ooba Home Loans.

"We do expect this trend to shift over time towards more sectional title property purchases by first-time female home buyers and this is largely due to affordability factors and the need for increased safety and security.

"Living in a complex gives you a more secure estate or living type of feel as opposed to a free-standing house," she said.

Paid Content