Akshaya Tritiya 2015 to see more women investing in real estate over gold
High-earning women have now started expanding their investment portfolio from just gold and precious metals to home buying and real estate.BY Indian Retailer Bureau | Apr 20, 2015 | comments ( 0 ) |
Indian women have always been associated with symbols of wealth and progression, and it is believed that investments by women carry a token of lucky charm with them. Be it independently or with a partner, they play a key role in the decision making for any kind of investments. Now, with greater education opportunities and great career prospects in India, women are independently entering the high income population. High-earning women have now started expanding their investment portfolio from just gold and precious metals to home buying and real estate.
It might come as a sweet surprise to you that women contribute about 95 per cent to the choices made while buying residences. In fact, in cities like Pune, 60-70 per cent of co-owners/co-borrowers are working women who have either bought the house on their own or are co-owning it with a partner. While women hold the realm for buying homes for own use, men are still the key decision makers when it comes to venturing into residential properties for their investment portfolio, with some aid from women. As women play such an eminent role in home buying, major chunk of residential property trends are credited to them, falsifying the concept of Indian real estate model being a male-dominated sector. In fact, it is the female population of the country that drives the industry.
Furthermore, auspicious days, like Akshaya Tritiya, certainly impact the decisions made by first-time buyers (young buyers). In India, it has been a tradition to buy something new on this day and as property-buying is a big investment for most of us; people tend to wait for propitious days like such to make the deal. It is a known fact that, most home buyers look at loans to support their home buying decision. Now, with leading banks reducing interest rates, there is a subsequent impact on home loans, as a result the consumer base is likely to expand and bring about a positive trend in the real estate market.
Quoting numbers, According to the National Housing Bank (NHB) Residex Index, residential property prices presented an upward trend in the latter part of 2014
Although, the start of last year saw a dip in the property market thanks to the weak rupee and high inflation, 2015 seems like a year of recovery for the market. Hopefully, we will see interest rates cut from the RBI that will help in creating more spending power amongst the consumers of the residential sector
The Ministry of Statistics Program and Implementation and PwC Analysis predict a growth of 8 to 9 per cent in the real estate market this year
Simultaneously, with the introduction of REITs, improved market sentiment, the Regulatory Real Estate Bill, Smart City initiative and the ‘Housing for All’ scheme, 2015 seems like a favorable year for this sector
On the basis of the above note, Mr. Tanuj Shori, CEO and Co-founder of Square Yards Consulting, will be keen to share more on how there is a positive change observed with women now moving from investing in gold to trying their hands on investing in real estate properties.
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