What do female property buyers, house sales, and the price of homes in Cape Town have in common?
They are all on the up and up.
Recent property market research has revealed that single women now make up the biggest group of home buyers in South Africa.
With the Cape Town property market gaining steam, homes that cater to the needs of this demographic will be in demand over the next few years.
Let’s take a look at this exciting trend in more detail.
Women make their mark on the residential property market
South Africa has made big strides when it comes to gender equality over the past few decades. As our country shakes off the biased treatment of women in the post-apartheid era, female professionals, entrepreneurs and academics have surged to the top of their fields.
With success comes increased earning and spending power. Today, South African women are one of the most important consumer groups in the country.
Single women buy more homes than anyone else
A recent research report by Lightstone Property reveals that single women have overtaken single men and married couples as South Africa’s leading home buyers.Single women purchased just over 40 000 homes in South Africa in 2018.
In Cape Town, the trend is slightly different, with married couples buying the greatest number of homes -but single women in the province still came in a close second.
Marketing your home to dynamic single women
For home owners who are serious about sellingand plan to put their properties on the market soon, single women are some of the best buyers to attract – but what are they looking for in a home?
According to the Lightstone report, single women dominate the market in homes valued up to R700 000, with an increasing number of homes in the R1 million and above brackets being bought by women.
Smaller homes and apartments are evergreen favourites with singles, and Cape Town boasts some of the best compact living in the country. This makes the Mother City a natural choice for female property buyers.
Whether you’re looking to buy or sell your home, the Cape Realty team is here to take care of all your property needs. Contact ustoday.