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Young, black women are driving the property investment market. PHOTO: NAPPY/PEXELS
ESSENTIAL TO FIND A MENTOR WOMEN who own property, or have parents who own property, are at an advantage compared to their peers, says Gugu SitholeNgobese, founder of Women in Planning SA. This means more women need to be talking about wealth accumulation and property investment and acquisition. “Our circles need to be up-front and direct about what we experience. Many of us do not want to expose the hardships we face in settings dominated by men, but to face these struggles and then talk about them in a frank and open way means we
get to share solutions with other women who are experiencing similar challenges.” Such challenges, many of which stem from the legacies of apartheid, still plague many women, she says. But one of the ways to get over this hurdle – not counting the hurdles that come with raising enough funds, establishing a stable credit score and investing wisely – is for women to find advisers and agents that they trust. “Finding an agent whom you know can work for you and guide you along the way is essential,” says Sithole-Ngobese.
in 2010 to 41% last year. And 60% of Betterbond’s woman applicants were single. “Security is obviously key for everyone in South Africa and particularly young, single women. Sectional title is attractive for this reason, as are gated communities for the higher earners,” he says.
Meanwhile, Lightstone data reveals that 25 329 women bought their first residential properties last year, and so far this year a total of 16 412 women have taken their first steps up the property ladder. These women purchased properties on their own, without entering into a joint partnership.
A FORCE TO BE RECKONED WITH THE REAL estate industry is slowly transforming into one in which “women are a force to be reckoned with”, says Amanda Cuba, director and chief operating officer of Re/ Max of Southern Africa. However, there is still a long way to go before women have a more equal place at the boardroom table. “Re/Max was the first to open its doors to female agents back in 1973 when the brand launched in Denver, Colorado. Today, roughly 60% of our South African network is women. Women are also some of our highest earners.” Cuba herself is an example
of a successful woman within the Re/Max network, having worked her way up from the humble streets of Gugulethu to the executive team. And as the twin of another successful woman in business, she attributes her achievements to both the circumstances of her upbringing and the inspirational women who helped raise her. “Our mom gave us the belief we could be anything that we wanted to be. She encouraged us to be adventure seekers and taught us that we are capable of anything that we put our minds to,” Cuba says.
YAEL GEFFEN
AMANDA CUBA
GUGU SITHOLE-NGOBESE
Steps up the ladder
YOUNG, black women in their mid-20s and early 30s are driving the property investment market, says Paul Stevens, chief executive of Just Property. Citing data collected from the credit bureau TPN, he says low interest rates aside, bond approvals for women have risen from 14%
FLEXIBLE CAREERS FOR WOMEN ALTHOUGH the overall long-term economic impact of Covid-19 has yet to be fully realised, growing evidence suggests women have been particularly badly affected. Not only have their child and home-care duties increased, they are also more likely than men to have lost their jobs, says Yael Geffen, chief executive of Lew Geffen Sotheby’s International Realty. “However, women have also shown phenomenal resilience. This was clearly evidenced by a new survey from the professional women’s network AllBright, which revealed that not only are they resilient, they are also proactive,
innovative and entrepreneurial.” Citing the report, she says many women are now looking to make major career changes. “There are few better options than real estate. Not only is it a viable alternative for women impacted by pandemic job losses, it’s one of the best careers for women with families who dream of having it all.” While many jobs force women to choose between career advancement and their families, Geffen says real estate offers the flexibility that few other professions offer while at the same time providing for their financial future.
