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% 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.

Young, black women are driving the property investment market. PHOTO: NAPPY/PEXELS