The real estate market is undergoing a significant transformation as more women take an active role in homeownership. Recent data highlights a surge in female homebuyers, reflecting greater financial independence and evolving societal norms.
- Residential transactions by sole women buyers increased by 14% in 2024.
- Women now account for 22% of total residential transactions.
Significant Growth in Female Homebuyers
According to the latest report from Square Yards, residential transactions registered with the IGR across major cities reached 5.77 lakh, marking a 4% increase from 5.56 lakh in 2023. Notably, transactions by sole women buyers surged to 1.29 lakh, up from 1.14 lakh, indicating a remarkable 14% year-on-year growth. This rise has elevated women’s share in total residential transactions from 20% in 2023 to 22% in 2024. In contrast, transactions by sole male buyers grew by 11%, rising from 1.96 lakh to 2.18 lakh during the same timeframe.
Kanika Gupta Shori, COO and Founder of Square Yards, stated, “As women gain greater empowerment through education, workforce participation, and financial independence, they are emerging as formidable decision-makers across industries, real estate being no exception.” The data clearly underscores how women have become influential consumers in the market, highlighting their vital role in shaping the future of homeownership.
Empowering Initiatives Fueling Change
The increasing presence of women in the real estate market can be attributed to several empowering initiatives. State governments are offering stamp duty concessions ranging from 1% to 3% and reduced registration charges of 0.5% to 1% for female buyers. Additionally, major lenders are providing a 0.05% reduction in home loan interest rates for women, significantly enhancing affordability for prospective buyers.
Tanuj Shori, CEO and Founder of Square Yards, remarked, “Women homebuyers are emerging as a transformative force in the property markets, propelled by increasing workforce participation and supportive government initiatives.” This year alone, women accounted for almost 53% of the clientele as sole or joint homebuyers on their platform, signifying a paradigm shift in the market.
The Role of Technology in Homebuying
Technology has played a pivotal role in the rise of female homeownership. Digital advancements such as online property search platforms, mortgage calculators, and budgeting applications empower women to make informed decisions. Social media, community forums, and financial technology innovations have improved accessibility, enabling women to navigate the homebuying process with greater autonomy.
- Digital tools enhance informed purchasing decisions.
- Community forums foster collaboration among women buyers.
- Increased access to financial resources boosts confidence.
- Technology streamlines the homebuying experience.
- Women are leveraging digital platforms for financial inclusion.
In conclusion, the increasing participation of women in homeownership signals a transformative shift in the real estate landscape. As Women continue to gain financial independence and utilize technology effectively, we can expect this trend to grow. Kanika Gupta Shori emphasized, “Seeing women homebuyers grow from strength to strength each year is inspiring…Women continue to emerge as a dominant force in homeownership, securing their futures with confidence.”
