As Women’s Month progresses, there is a growing focus on the increasing number of women turning to real estate investment in the Western Cape, recognising it as a powerful means of financial empowerment and long-term wealth creation.
Since 2022, women have accounted for 57% of property ownership in the market, according to Lightstone, and lead 42% of South African households (Stats SA General Household Report, 2022). This trend marks a significant shift in economic dynamics, particularly in the Western Cape, where luxury real estate opportunities offer promising returns and a pathway for women to achieve financial independence and build lasting legacies.
In a recent interview with Jimmy Moyaha on SAfm, Jenny Rushin, National Development Manager for Betterbond, highlighted an intriguing trend in the South African property market. Despite a slight decrease in the number of homes purchased by women in recent years, they continue to dominate the landscape as the majority of property owners in the country. Notably, the value of properties owned by women exceeds that of their male counterparts. This trend is further supported by data from Lightstone, which reveals that more women have purchased property independently than men or married couples in recent years.
Aaqilah Hendricks, a Property Practitioner at Greeff Christie’s International Real Estate, has noted a marked increase in the number of women entering the property market. "In my recent development, I observed that a significant portion of buyers were women who had proactively educated themselves about the market and identified safe areas for investment," she says. "As a female property broker, I am acutely aware of the safety concerns that women have in Cape Town. Addressing these concerns and highlighting the safety features and benefits of an area is crucial in meeting the needs of female buyers."
Hendricks shares a recent success story: "A young female buyer, well-prepared and financially secure, fell in love with a deceased estate property. She was pre-qualified, had her deposit ready, and already had an existing mortgage. The offer was submitted and accepted on the same day, with the full asking price achieved, and the mortgage was approved within five days.”
Douglas Holder, Sales Manager at Greeff Christie’s, has also observed a growing interest from female buyers. He reports that over 50% of enquiries for sectional title apartments are now from women. "The trend shows that young female buyers are increasingly committed and serious," Holder explains. "They tend to have a more strategic and well-planned approach to purchasing, often having pre-approval or financial arrangements in place before they even begin their search."
"Real estate investment is no longer a male-dominated field. Women in the Western Cape are now actively pursuing opportunities to secure their financial futures and make significant investments," says Mike Greeff, CEO of Greeff Christie’s. "From high-end residential properties in Constantia to luxury apartments with panoramic views, the potential for growth and financial stability is substantial."
The allure of the Western Cape, especially Cape Town, lies in its natural beauty, cosmopolitan lifestyle, and stable political climate, making it a global hotspot for luxury real estate. Investment strategies here can include high-end residential properties in prime locations like Constantia Upper and Camps Bay, luxury apartments in urban centres, and even vineyard estates for those looking to combine lifestyle with substantial returns.
To navigate this exciting landscape, female investors are encouraged to start with education and financial planning. They should establish clear investment goals, conduct thorough market research, and build robust networks. Starting with smaller properties or part-ownerships can offer valuable experience, while professional advice from estate agents, property lawyers, and financial advisers can help mitigate risks and optimise investment decisions.
"Women may encounter unique challenges, such as gender bias and balancing personal commitments with investment activities. However, by staying informed, seeking support, and managing risks effectively, they can excel in real estate investment," adds Greeff.