Women are Shining Bright in the Property Market
South African women are becoming more economically empowered within government and the private sector, and playing a more integral part in the home buying process. They are investing wisely by building up a portfolio of investment properties not only for their families, but for themselves too. According to Lightstone Property statistics, last year 72 000 single women bought residential properties in South Africa, predominantly in Gauteng with an average price around R800 000. In both the Western Cape and KwaZulu-Natal, married couples outnumber all the buyer types, with single females moving up to second. Due to the income inequality between males and females, it is still evident that single females fall into the lowest average sales price. According to the Global Wage Report for 2018/19, women make on average 28% less than their male equals. But as women are becoming more empowered in all aspects of daily life and as the wage gap narrows, so will more and more women enter the property market which is good news for everyone.