Housing.com-Makaan.com Study: Number Of Women Users Researching Online For Property On The Rise
In the real estate industry - often regarded as a male-dominated sphere - women have made a mark for themselves as successful brokers. When it comes to home buying and renting, the fairer gender is a force to be reckoned with. A study conducted by Housing.com and Makaan.com reveals that the number of women users who are actively researching for a property online is increasing. Also, many facts have come to the fore about the behavioural differences between men and women as far as property search is concerned.
What the data shows
According to the data, the number of online sessions generated by women users across the two platforms rose from 51 per cent in 2016 to 54 per cent in 2018. Evidently, the share of men in the corresponding timeline saw a dip from 49 per cent in 2016 to 46 per cent in 2018.
Owing to financial independence and a greater say in family decisions, more and more women are taking up the task of property buying and investing. With a clear understanding of their lifestyle needs, women are a majority among property buyers and often essay the role of an influencer or contributor. Single women buyers in big cities are also increasing in number.
The share of sessions initiated by women buyers on the two sites has risen from 40 per cent in 2016 to 46 per cent in 2018. Moreover, a large number of female users between 25-34 age group are found to browse realty portals for information.
Women are better researchers
Woman home seekers contribute 20 per cent more sessions in search for rental properties and are 10 per cent more likely to return to the site for more information. As potential homeowners, women want to be sure if a property option is right for them which is why they believe in weighing quickly the pros and cons before arriving at a decision, which ultimately requires a great deal of information. However, just the way they juggle their careers and personal life, woman buyers are quick to surf information and spend seven per cent less time per visit to a site and about eight per cent less time on a particular page. Compared to men, they have a flair for simplifying their tasks in an efficient way with refined searches and utmost attention to details.
Finally, closing a deal sometimes may call for expert negotiation skills but women are not far behind either and are closely following men - who account for 51 per cent of buy leads - on their heels.
The growth of women buyer segment has even led developers to launch special offers such as lower interest rates on home loans. There are also other perks of being a woman home buyer such as lower stamp duty in some states and significant tax deductions. These advantages could be factors that have attracted womenfolk into home buying, bringing them closer to a bright future.