The Sharp Increase Of Female Buyers Forced The Readjustment Of Product Structure

The acceleration of women entering the real estate market is closing the gender gap.

A few days ago, the shell Research Institute released the "survey report on the status of women's housing (2021)" (hereinafter referred to as the "report") shows that the main consumer groups in the housing consumption market are changing from male dominated to female dominated, and the holding rate is increasing year by year. In 2020, the proportion of female buyers under 24 years old and 25-29 years old increased by 6.58 percentage points and 6.22 percentage points respectively compared with 2017, which was significantly higher than that of other age groups. With the improvement of women's education level, the income level of contemporary women is constantly improving, and the only child family's economic support is stronger, which can support women and men to jointly fund or independently purchase houses, and the industry layout will follow the "her needs" transformation battlefield.

"The increasing ratio of women's house purchase is a signal, which mainly affects the change of home purchase preference of developers and related downstream demand groups. For example, the product design should be adjusted according to the real estate characteristics of post-90s group, single living group, female group and elderly group." On March 16, Yan Jinqiang, a senior analyst at Shell Research Institute, said in an interview with 21st century economic reporter.

With the rise of "her economy", whether single young women or married hostesses, women have more initiative when buying houses. The most direct manifestation is that the proportion of women's real estate purchase has increased significantly in recent years. According to the report, the proportion of women buying houses in 30 key cities in China increased year by year from 45.60% in 2017 to 47.54% in 2020. Although from the stock point of view, the gender difference has not been eliminated, but the acceleration of women's entry into the real estate market is closing the gap, and there is a potential for later attack.

In Yan Jinqiang's view, as the concept of economic and personality independence of highly educated women is gradually widely recognized by the society, coupled with the transformation of family structure with few children and the change of marriage concept, there will be strong support for the strong proportion of women's house purchase in the future.

The change of concept and the promotion of economic conditions have become the two major preconditions for the increase of women's house purchase ratio. IC photo

"Her needs" go up

The idea that pre marital home ownership can provide security for marriage has become the fundamental reason for the high demand of women's house purchase.

Influenced by traditional ideas, real estate has always been regarded as the basic guarantee for the two couples to enter into marriage. However, with the development of economic conditions, China's marital status has changed a lot. The desire to achieve independence and self-awareness is constantly recognized by young women. At the same time, economic development and the improvement of education level provide more employment opportunities and higher social status for women. The change of concept and the promotion of economic conditions have become the two major preconditions for the increase of women's house purchase ratio.

According to the survey results of the above report, 36.07% of the female respondents think that "the house is more secure than marriage"; 29.59% of the respondents think that "the independent real estate makes her more confident in the family and marriage"; 24.32% of the female respondents said that "the independent real estate can provide a shelter for herself". More women want to provide a safety net for their future family life by buying a home before marriage. Pre marriage home ownership means that women in the new era have more initiative in marriage choice, and women also have more voice in the face of real estate, the core asset of the family.

In addition, the number of women with bachelor's degree or above in school and workplace is increasing year by year, the influence of "delay effect of first marriage" caused by the increase of years of education and the increasing difficulty in matching the marriage market. The decline in the demand for marriage house dominated by men has become another factor for the rise of "her economic" demand.

"The education level of women is getting higher and higher, and the number of women with higher education is growing. The proportion of female students born in the 90s and after 00 is basically equal to that of men and tends to surpass that of men. The improvement of education level makes more women more independent and their economic strength equal to that of men." Yan Jinqiang explained.

According to the data of China's marriage report in 2021, from 1998 to 2017, the proportion of female students in school increased from 38.3% to 52.2%, and women began to dominate the higher education group. Highly educated women tend to prefer men who are no less than their own conditions, increasing the difficulty of marriage market matching, and the scale of single women is rising rapidly.

The average age of employment is delayed by the increase of education time and the average age of employment. According to the data of the National Bureau of statistics, the average length of schooling of the population aged 15 and above increased from 5.3 years in 1982 to 9.6 years in 2017, and the average age of first marriage of women increased from 22.0 years in 1990 to 25.4 years in 2016.

"Highly educated women have stronger economic independence, and economic independence supports personality independence, which makes women have more discourse power in intimate relationships. Women with single height education have more obvious demand for house purchase. The only child family structure is more common among young women. The space for wealth distribution among generations within the family is limited. In the future, young women will get the same experience from the family as men The increased possibility of financial support means that the concept and layout of the industry will also be adjusted with the new subdivision group of women. " Yan Jinqiang concluded.

Product structure to be adjusted

Chen Lin, a private enterprise employee working in Wuhan, finally bought her own property with a mortgage loan two years after graduation.

"I have been struggling with the price and location for a long time. I am the only child. Although I have less pressure on down payment, I still don't want the monthly payment to exceed 30% of my income, and the convenience of public transportation is also a big problem."

According to the above-mentioned "report", according to the results of the survey on the preference of supporting facilities around 8 types of residential areas, women are the most concerned about transportation facilities when buying a house, accounting for 70.51%; supermarkets are the second, accounting for 69.16%; shopping malls, schools and hospitals pay close attention to the same level, accounting for 55.04%, 54.54% and 54.49% respectively. In the survey, 73.65% of women can accept the farthest job and residence, and the commuting time is less than one hour, while the proportion of men is 59.28%.

Secondly, in terms of living space configuration, 70.81% of female groups hope to have a sunny balcony at home; secondly, 58.58% and 56.14% of women choose to have "zero noise bedroom" and "kitchen with complete appliances". For better, more comfortable and more convenient living space, women's pursuit of ideal living space is better than men's.

According to Yan Jinqiang, "with the growth of women of the right age and the change of marital status, the industry will optimize the supply side in the future, and developers and relevant businesses will adjust marketing, product design and surrounding supporting facilities according to the career preference and motivation of women."

The strong entry of female groups is in line with the characteristics of the new era of high-quality development driven by digitalization and centered on customer demand in the future residential real estate industry. How to obtain female groups has become the key to supply side structural reform, incremental and strong stock in the industry. The demand for women's house purchase is in line with the development trend of the industry in the future. The specific performance is commuting endurance, supporting facilities, lighting demand and intelligent home.

In Yan Jinqiang's view, China's residential industry is entering a new normal of improving quality and shifting gears and slowing down operation, and industry practitioners are facing important changes in the market supply-demand relationship and competitive factors. At the central level, it is necessary to continue the main keynote of "no speculation on housing" proposed in 2016, and maintain the strategic focus of real estate regulation. Practitioners need to deeply understand the long-term significance of digital transformation for enterprises, use digital solutions to deeply understand the needs and pain points of consumers, improve the short boards in the whole value chain, and cooperate with other parties to build open data sharing Sharing mechanism. Based on these two aspects, the industry will continue to move towards high-quality growth with digitalization as the core driving force and customer demand as the center in the future.

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