Chinese Women Buying Security

Successful women own property for security and also status in the family

The obsession to buy a home in China continues, but we're happy to discover that more Chinese women are realizing this dream.

Despite having to deal with the gender pay gap of earning on average 16 percent less than men, Chinese women have found ways to buy homes under their own name. Last year 46.7 percent of all homeowners were women in 2018, which compares to only 5 percent just two years earlier.

Over 47 percent of women over 30 bought their own homes

These numbers came from a report by real-estate broker platform Beike Zhaofang 贝壳找房, which surveyed thousands of women aged 18-50 in 12 cities, including Beijing, Shanghai and Wuhan. 

For single women over 30 years of age, 47.1 percent of them bought their own homes. More than one-third managed to buy their property without a loan, and 23.4 percent own more than two properties.

Either these women got a lot of help from their parents, relatives and friends, or they have high-powered jobs, or even really generous sugar daddies giving them lots of cash...

Media outlet Southern Weekly tried to find out why this phenomenon was happening and most women they interviewed cited "a sense of security" as the main reason for buying their home(s).

Wives usually do not have their names on the deeds

For successful women in high-paying jobs, home ownership is a statement of independence. Southern Weekly interviewed a female senior manager at a finance firm who owns three properties, which resulted in her having an elevated status in the family, making her even more confident as a woman.

Also as most families only have one child, the parents are more supportive in helping out their daughters in buying a home, or will even outright buy real estate for them. In addition, parents from older generations see buying a home as a safe investment that will give the daughters security when they retire.

Many women have parents helping them buy homes

The jump in female home ownership is also a result of high divorce rates. Typically when women get married, the husband has already bought a home and the woman's side is expected to contribute caili or betrothal gifts in the form of cash or gifts, such as furniture or cars.

And so in the event of a divorce, the wife is left with nothing, because her name is not on the deed.

But with 46.7 percent of home buyers now being women, they are actively protecting themselves (and their parents) from financial ruin. It's another big step in forcing Chinese men to confront the reality that yes, women do hold up half the sky -- for themselves.