The Rise of Single Women Homeowners: A New Force in SA Real Estate
Category Investing
In recent years, single women have become incredibly influential in South Africa's property market. Despite earning less than men on average, and notwithstanding that overall home sales in South Africa have plateaued, sales to single women have surged from 17% pre-pandemic, to over 22%.
Research further shows that many of the women buyers who own at least 60% of the country's residential housing stock, are single. This clearly paints a picture of the significant role single women now play in our country's property market.
Single women increasingly view the property as a home and a long-term investment to ensure financial stability and a means to provide for their families. This shift is transforming the real estate market, with sellers and developers noting what these buyers prioritise in their home purchases.
The rising influence of single women in the property market
According to data from Lightstone, single women have outpaced men and married couples in property ownership between 2015 and 2020. This trend has only intensified, with many women choosing to delay marriage or remain single while investing in real estate.
This growing demographic of homebuyers sees property as a way to secure long-term financial independence and an asset for their future.
Carl Coetzee, CEO of BetterBond, notes, "Women are challenging traditional notions that marriage should come with home ownership."
Even though, on average, women earn less than men, women are finding ways to invest in real estate, often as their primary residence or as a buy-to-let opportunity. This shift highlights the changing dynamics in the property market, where female buyers drive demand for certain types of homes.
What are the top safety features single women seek in a home?
For single women buyers, security is the priority when purchasing a home. Many women are primary caregivers for their children or elderly relatives, so safety is essential. Consequently, properties with integrated security features are desirable to this demographic.
Women also tend to favour homes in secure estates. These sectional title properties offer lock-up-and-go convenience, lower maintenance and added security through communal safety features such as guards or controlled access points.
Tip for sellers and property investors looking to attract this demographic: Investing in home security improvements can make a significant difference when looking to appeal to single women buyers
Some of the most sought-after security features include:
- Home security systems: Alarms, motion-sensor lights, CCTV cameras, and smart home technologies such as video doorbells and remote-controlled lighting are crucial.
- Sturdy doors and windows: High-quality locks, deadbolts, and burglar guards provide additional peace of mind, while automated gates and garage doors add another layer of security.
- Secure outdoor spaces: Many women buyers require fenced or walled gardens where children and pets can play safely.
- Back-up power solutions: As many single women work from home, systems to ensure the home remains functional and secure during loadshedding are essential.
Community and accessibility - Key factors for female buyers
Beyond security, women are also drawn to neighbourhoods that encourage a sense of community. A safe and supportive environment can make a massive difference for single women, particularly those raising children or caring for older relatives.
Proximity to good schools, medical facilities, and parks is crucial for female buyers. Women also look for homes that offer easy access to shops, restaurants, and gyms, reducing the need for commuting and ensuring they can manage their busy lives efficiently.
In addition, multi-generational living is becoming more popular among women buyers. With many women taking on the responsibility of caring for ageing parents, homes with extra living space, such as a garden cottage or a single-level layout with easy access, are in high demand.
For sellers and property investors, understanding the needs of this demographic and offering properties that align with their priorities is critical to capitalising on this expanding market segment.
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Author: Bryce Anderson
