South African Women Take the Lead in Homeownership, Outpacing Men in Property Market

In a significant shift within the South African real estate market, the latest data from Lightstone reveals that women have taken the lead in property ownership. Outnumbering men as well as mixed-gender couples, female buyers signify a changing dynamic in home purchasing and investment.

Hayley Ivins-Downes, Lightstone’s managing executive for real estate, reports that out of the total owned real estate stock, women-only buyers now account for 38%, possessing over two million properties. This development is even more remarkable considering the traditional obstacles women faced in property ownership. Properties co-owned by women contribute to an additional 33%, solidifying their significant presence in the market.

The trend that has seen men-only owners dominate the market is continually being reversed. Women buyers have surged ahead, with a growing disparity between women and men since 2016. Last year, female-only ownership outstripped mixed-gender couples, signaling a profound change in societal and economic roles.

Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty, acknowledges the broader implications of this shift. The drive towards financial independence and security is a response to the longevity gap between genders and the high divorce rates. Real estate has become a vital tool for women's financial planning and wealth building.

Geffen attributes this turn of events to several factors, such as improved education, career advancements, and evolving societal perspectives on gender roles. The image of the homemaker has been replaced by that of the independent woman investor, participating actively not just as homebuyers but also in property development and renting, and flipping houses.

Importantly, this shift recognizes the evolving role of women both in the family and in the economy, with a keen eye on prospects for lifestyle creation and establishing a nurturing home.

Women’s ascendancy in the property market heralds empowered decision-making, an enhanced demographic focus for investment, and a diversifying real estate landscape. This advancement in gender equality reflects a progressive step not just for women, but also for the nation's economic development.