Lifestyle

Market sees substantial increase in women property-seekers: ecis2016.org-Makaan.com study

[ecis2016.org] There has been a notable increase in the number of women who are researching online, for the purpose of renting or buying properties, finds a study by ecis2016.org and Makaan.com

A recent study conducted by leading online real estate portals ecis2016.org and Makaan.com, suggests that there has been a significant increase, in the number of women users who are actively researching for a property online. The study attempted to look at the behavioural differences between men and women, when they are looking for properties online. The study processed data collected from its users’ activity, across the two platforms – ecis2016.org and Makaan.com.

Women lead the way, in searching for rental properties

Women are actively taking the lead, when it comes to searching for a rental property. In 2016, women users accounted for 51 per cent of the sessions online, while men accounted for 49 per cent. By 2018, women accounted for 54 per cent of online sessions across the two platforms and the share of men in this regard, has dwindled to 46 per cent.

Even when searching for properties to buy, the share of sessions initiated by women on the two sites, jumped to 46 per cent in 2018, from 40 per cent in 2016. The numbers may indicate that women may be more conscious of what lifestyle they wish to settle into and may even be better decision makers.

Age group of property seekers

Female users’ sessions were more prominent in the 18-34 age group category. While the exact number may have varied across the two platforms (ecis2016.org and Makaan.com), overall, the number of women browsing the websites for information, was higher than that of men across platforms. However, the dominant age category is that of 25-34-year-olds, who form the bulk of users at a little over 55 per cent, across both platforms.

Here again, there were more women users than men. One can infer that with increasing financial independence, women increasingly are making property-related decisions, both, for independent dwelling options and even for family homes.

Property information: What do women look for?

As compared to men, women contribute to 20 per cent more sessions, when looking for a rental property and are 10 per cent more likely to return to the site for more information.

It is clear that women are more hungry for information and take several sessions and visits, to analyse the information, before they arrive at a decision. Women are also quicker to move on to the next alternative, if they do not like what they see. On average, a woman user spends seven per cent less time per visit to a site and about eight per cent less time on a particular page, indicating that they are quick to browse information and are clear about their needs.

Women also look at slightly more number of pages than men, when looking for a rental property.

Eye for detail

The study revealed that about 48 per cent of women browsed through pictures of the property they were interested in, as against only 39 per cent of men. Additionally, women went in for refined searches, applying 3.5 filters on an average, whereas, men applied only three filters. This shows attention to detail and a discerning trait in women.

Moving from online searches, to the transaction

Besides short-listing and selecting rental homes, women are also increasingly involved in closing transactions. According to data, women are more likely to share their contact information with brokers and landlords for a rental property, contributing 54 per cent of the total leads dropped for rental properties.

While women may be good decision makers with an eye for detail, numbers show that they are more likely to pass on the baton to men, when it comes to buying a property. Men accounted for 51 per cent of the leads dropped on the platforms, for buying properties. Men also accounted for more enquiry-to-sales conversions than women but there was only a slight gap and increasingly we are likely to see more women moving closer to the transaction and becoming involved in buying homes, as well.

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Debora Berti

Università degli Studi di Firenze, IT

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