For generations, buying a home was viewed as something women did in partnership with their husbands, rather than as independent financial decision-makers. Property ownership was tied closely to family structures and traditional ideas about household management and women’s role in society. REALGLEN Properties, as a women-owned real estate business, could not be more thrilled that today’s picture looks very different.
An ever-increasing number of women are buying property in their own names, building property portfolios and taking on leadership roles within the real estate industry. As Women’s Month has just drawn to a close, REALGLEN Properties takes a look at just how much the landscape has changed.
Women are becoming increasingly influential property buyers
Lightstone data reveals a wonderful truth about the relationship between gender and homeownership: the balance has shifted significantly. According to the latest data, there are around 1 400 000 solo female owners of property in South Africa, and about 1 300 000 solo male property owners. It is truly a statistic worth celebrating. In Gauteng, the statistics are even more impressive.
Another interesting statistic cited by Real Estate Investor is that women begin purchasing homes at similar levels to men in their twenties, but from the age of 29 onwards, female buyers consistently outnumber male buyers across every age category. This shift reflects more than changing attitudes towards homeownership. Greater financial independence, increased participation in the formal economy and improved access to home finance are all helping more women enter the property market independently.
Women are building wealth through property
Homeownership is only one part of the story. Increasingly, women are also recognising property as a means of building long-term wealth and financial security. For some, that means purchasing a first home and gradually building equity. For others, it means buying a second property as an investment, entering the rental market or building a portfolio over time. The growing number of women making these decisions independently represents shifts in attitude towards that have been several decades in the making.
This is particularly significant in a country where women continue to face economic challenges. Unequal access to employment, income and financial opportunities can make it more difficult for women to qualify for finance, save a deposit and enter the property market. Despite these barriers, women are increasingly participating in the economy, making independent financial decisions and taking greater control of their financial futures.
Women are also shaping the property industry
The transformation of the South African real estate sphere extends beyond who is buying property. Women are increasingly making their mark within the real estate industry itself, working as property practitioners, investors, developers, business owners and industry leaders. We’re immensely proud that our founder Magda Stoffberg is a shining example of this. Having women represented at every level of the property journey helps challenge the patriarchal perception that real estate is primarily a man’s domain.
It also means that women entering the market can see themselves reflected in the professionals helping them navigate the biggest financial decisions of their lives.
Challenges that lie ahead
Of course, there is still work to be done. Financial inequality, the gender pay gap and the challenges associated with accessing affordable housing continue to affect women’s ability to invest in real estate. But we are moving in an encouraging direction, with women choosing the homes they want, making the investment decisions, building wealth and creating businesses of their own.
Realglen Properties is a proudly woman-owned and operated business. Women’s Month may be over, but our commitment to helping women find and purchase the property of their dreams in Gauteng is year-round and lifelong. Get in touch if you’d like help in becoming a homeowner.
