It is crucial that South Africa continues to recognise and honour the role women play in the economy.
The contribution women make to the real estate sector, regardless that it has been heavily male leadership-weighted for decades, is highly valued.
Private Property invited female real estate leaders to join us this August, in highlighting how women can empower one another, and how they have done this. In providing their top five tips, whether as a real estate agent or a working woman, it is hoped that other women will be inspired to excel in their careers.
- Women in Real Estate: Yael Geffen
- Women in Real Estate: Vicky Goslettt
- Women in Real Estate: Mia Acutt
However, we must also not ignore the role that women are increasingly playing as home owners. It is pertinent that we also note the following milestones in the real estate sector, that prove that women are taking bold steps in real estate decisions:
Lightstone noted that last year women had become the dominant force in the SA homeownership landscape. Among the nearly seven million formally registered residential properties in the country at the time, women owned or co-owned an impressive 3.9 million, constituting 57% of the total. These properties collectively comprised 53% of the total property value, amounting to R6.787-trillion.
Property Professional magazine highlights that women are rapidly becoming the primary first-time home purchasers. This trend, which started gaining momentum in 2016, has seen women now account for nearly 50% of the first-time home buyer market in just eight years. This is a profound shift for the South African market.
ooba Home Loans announced that the majority of property purchases made by women are most often single or divorced than still married, which highlights the value they place on independence through homeownership.
According to Betterbond’s 2023 stats, many lone female buyers are young black women under 40. This demographic represents a growing segment of the market, challenging traditional notions about homeownership and financial independence.
Reasons women are rising as property stakeholders
There are many reasons for this boom, not least is that some 41 percent of households are headed by women, says StatsSA. Homeownership is a form of financial security for women, and more so in challenging economic times. They view property as a stable asset class indicting that women across all demographics, cultures and social environments, are feeling more empowered.
Women do tend to influence the property buying decisions of their family anyway, and even if single, say some global reports, they tend to prioritise a home over marriage in current times.
Increasing gender equality in the workplace also means women are earning more and are higher educated than before. Those women are also focused on increasing their skills, staying in tune with market movements, and playing strategic roles in company management. This provides them with significantly higher purchasing power than even as recent as 30 years ago.
Age is also highlighted as no longer being a barrier to success. In the past it may have taken many years for a woman to be recognised enough to climb a corporate ladder. Today recruitment is more about what value women bring to the table, and not necessarily experience. Embracing a more youthful approach to business allows companies to grow into dynamic youthful markets, such as those driving the tech agenda.
An invitation
Your stories matter to us and Private Property wants to hear and share them anonymously.
Your experiences may be those that other women can relate to. By sharing, we can better understand how to support women, be that in the workplace or in their homes. It is a known fact that women are, at heart, care-givers - and can be catalysts for change without conflict. That is not to say that conflict doesn’t exist, in many cases women have had to flight battles to break glass ceilings and be recognised.
We invite you to share your property or real estate story with us. In no more than 600 words, please describe an experience you have had that will help educate, warn and uplift other women or warm our hearts.
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