In 2017, one-third of home loans were taken by single women. French women are particularly active in the old real estate market.
Single women no longer hesitate to buy real estate
Buying a property is an important step in a couple’s life. By accessing the property, the household plans for the future but also prepares its heritage. As a rule, the first purchase is financed with a mortgage. For this first major banking transaction, many couples make an appointment with their financial advisor to discuss the terms of the loan.
While couples have an advantage in their application for real estate financing (two salaries), single people are not out of the housing credit market. This is particularly the case for single women who decide to engage in real estate acquisition. In fact, they represent one third of real estate loan files.
But in terms of funding, men and women are not equal. Although banks do not discriminate, borrower profiles are different. According to the European Commission, a woman has a lower income of 16% compared to a man.
French women and second homes, yes, after 40 years
This has an impact on borrowing capacity, which is calculated based on revenues and expenses. For a substantially equal position, a French woman will be able to borrow less than her male counterpart because of her lower salary.
This fact does not prevent women from having a strong presence in the mortgage market. The principal residence (90% of single women) is not the only goal, since women under 30 years of age who invest in rental real estate are more numerous in 2017.
Finally, women do not have the same profile whether they are first-time buyers or second-time buyers. A French woman who launches her first real estate purchase finances an old property of 170 858 euros on average (for under 30s). They represent 20% of single women while the 30-39 weight in 39% of cases. For women over 40, the purchase of second homes is more considered compared to the thirties. The new property will cost on average around 250,000 euros. In real estate, women have no lessons to receive from men.