Home Business KENYAN WOMEN NEED TO TAKE STEPS TO CLIMB THE PROPERTY LADDER

KENYAN WOMEN NEED TO TAKE STEPS TO CLIMB THE PROPERTY LADDER

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According to the most recent Kenya Demographic and Health Survey (KDHS) 2022, just 4.5 percent of women in Kenya between the ages of 15 and 49 own a home on their own, while 27.7 percent do so jointly with their husbands. This contrasts with 8.5% of men who own homes jointly with their wives and 34.7% of men who own homes alone.

Despite Kenyan women having demonstrated their ability to make a difference in a variety of professions, including technology, medicine, education, and finance, the trend also reflects a considerable gender discrepancy in property ownership.

The majority of women have also contributed significantly to the nation’s real estate market as professionals and consumers.

This is mostly explained by the fact that Kenyan women are increasingly influencing decisions and making their own choices regarding the acquisition of homes.

In addition, women are getting more and more high-quality employment with excellent growth potential across all levels of business, government, and development organizations.

Therefore, the requirement for portfolio diversification and protection against inflation-related valuation losses is what motivates the interest in real estate shown by the female population.

 

As a result, certain urban Kenyan women have benefited from numerous advantages that are exclusive to them, including tax rebates and cheaper house loan interest rates provided by some banks.

The growing interest in real estate has also been fueled by women’s increased interest in pursuing jobs in the industry; according to some estimates, women make up nearly half of all new agents.

 

According to research from some nations, 65 percent of women prefer investing in real estate over bonds or stocks globally. Additionally, according to data from the International Finance Corporation (IFC), Kenya has a sizable unmet demand among women for house finance and a relatively untapped housing finance industry.

Despite the obstacles women encounter, the IFC projects that the market for women’s housing loans will be worth $14.8 billion (Sh2.15 trillion) by 2020.

Regionally, there has been a significant increase in female property buyers over the past few years, demonstrating that women are increasingly making real estate investments. According to separate World Bank research, the percentage of women purchasing real estate climbed nationwide from 9% to 47% between 2020 and 2022.

 

The modern woman sees home ownership as a significant step toward gaining financial independence, even though many women face significant obstacles, such as the gender wage gap and restricted access to resources because of cultural restrictions, particularly in Africa.

 

Women today are increasingly focused on financial inclusion, equality, and literacy as their priorities change. The real estate sector is significantly boosting the country’s economic growth and generating capital returns for investors thanks to favorable market conditions and rising property demand. The modern Kenyan lady represents the aspiration to achieve financial independence. Women should seize this opportunity to break free from restrictions on homeownership.

Additionally, to help women build successful careers in the real estate industry, legislators need to place more focus on frameworks that will draw a diverse workforce.

 

In the end, this would be advantageous for both women and the broader Kenyan real estate market.