Women emerge as a strong buyer group

Women are emerging as major influencers in the property purchase decisions and a strong buyer group in the residential segment. This changing trend has been tracked in a recent survey conducted in 10 top cities by Track2Realty.  According to the survey findings as many as 28 per cent women across cities like Delhi, Noida, Gurugram, Mumbai, Pune, Kolkata, Ahmedabad, Bengaluru, Chennai and Hyderabad, are ready also to defer their marriage plans for mortgage. Nearly two out of three women (62 per cent) would not even mind selling their jewellery, for a piece of property. Even more in number (70 per cent of single women) would prefer real estate as their preferred choice of investment. This is in comparison to only 58 per cent single men who opt for real estate as primary investment option. The top three cities with single women buyers are: Ahmedabad (14 per cent), Kolkata (12 per cent) and Bengaluru (11 per cent). 

Women are also major influencers in home buying, with as many as 74 per cent  being directly involved in the decision making. Even when home buying is a family decision, 66 per cent directly get involved in the process, right from house-hunting to the acquisition processes. The survey was aimed at understanding and assessing the role of women in home buying. A majority of the respondents were working professionals and included singles and couples belonging to double-income families. 

However, developers, it seems, have failed to understand these changing home buying patterns. No less than 84 per cent women maintain that the developers are neither listening to nor understanding their buying powers or choices. As many as 58 per cent women even maintain that there is discrimination against them, when it comes to buying a house. The sales team of the developers is often clueless in how to deal with the women buyers which is something that needs to change.