Real Estate Investor Magazine South Africa August 2018 | Page 55

ADVICE
Women
in Property
Celebrating real estate’s softer side
W
ith August being Women’s Month in SA, there is no
better time for women to think about buying homes
of their own or becoming property investors, says
Gerhard Kotzé, MD of the RealNet estate agency group.
“One reason is that there are currently more properties for
sale in most areas than prospective buyers and that prices are
accordingly very negotiable,” he says.
“In fact more than 90% of sellers currently have to drop their
asking prices by around 10% to achieve a sale, so there is a good
chance of being able to purchase more home than you expected
for the money you have available.”
Another reason to buy now, he notes, is that it is relatively
easy to obtain a home loan. “Of course you need to have a steady
household income and a good credit record, but the banks are
currently keen to lend to home buyers and are offering good
interest rates.
“This is especially true if you have already saved up a deposit
and if you apply through an originator like BetterBond, which
is currently able to get approval for 80% of the home loan ap-
plications it submits.”
Thirdly, says Kotzé, there is high and growing demand now
and in the foreseeable future for rental properties, “which makes
this a good time for women to become property investors and
start acquiring rental homes that will provide them with capital
growth along with an independent income stream”.
Looking beyond the current economics, he also says that
a survey conducted by Private Property last year showed that
women are in fact already the major decision-makers when it
comes to property purchases, with 51% making the decision by
themselves or on behalf of a partner.
“Women also outnumber men when it comes to single buy-
ers, accounting for an estimated 10% or total home purchases
compared to 7% made by single men, and we really hope to
see this trend accelerating now as more women in SA move
into top government and corporate positions or set up their own
successful businesses.
“Property ownership is after all one of the strongest expres-
sions of financial independence - and the sense of empower-
ment and personal security which that provides.”
More women entering the real estate game
The past decade has seen a significant increase in the number of
women buyers in the South African property market.
According to a report by FNB, women in property are catch-
ing up to men in all aspects of home ownership, including in-
vesting, with figures showing single women making up an es-
timated 10.3% of buyers‚ while single male buyers topping out
at 7.0%. Whether through being employed in more managerial
positions or owning their own businesses, South African wom-
en are making use of their money wisely.
Mike Greeff, CEO of Greeff Christie’s International Real
Estate says, “We have seen a steady increase of women in the
property market over the past ten years. This is encouraging as
the property market is an excellent place to invest one’s money.
I would encourage all women to consider property as an invest-
ment and as a wonderful way to diversify your investments.”
The results of a recent South African census show that even
though the average South African household is still headed by a
man, the number of female breadwinners is on the increase and
is currently at 16%. Stats SA recorded the number of house-
holds headed by single women at about 14%.
With more disposable income available to them, greater
numbers of women have been able to invest in residential prop-
erty in recent years. Statistics reported by Private Property show
that 91% of the women respondents were actively involved in
the home buying decision process and that of the women inter-
viewed 46% would make the decision to purchase by themselves.
Female buyers, especially single or single mothers, place se-
curity very high on the list of priorities when purchasing prop-
erty. Security estates or sectional title units prove to be the most
popular choice as they tend to have sufficient security including
high walls, security gates, electric fences and more often than
SA Real Estate Investor Magazine AUGUST/SEPTEMBER 2018
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