Sri Lankan women buying showpiece apartments on the rise: study

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A study conducted by John Keells Properties (JKP) has found that the number of Sri Lankan women investing in high-end real estate is on the rise.This is further backed by JKP’s own sales figures which indicate that women buyers account for 16% of their current client portfolio compared to 9% in 2004.The increase of women seeking ownership of their own property is thought to be a direct result of their increasing affluence and their rising per capita income.It is said that the new trend has emerged as more and more Sri Lankan women have joined the corporate sector than ever before.

“Women now turning their eyes to the world of investment could be seen as a new development in bridging the existing wealth gap between Sri Lankan men and women”, the study opines.

“This further reflects increasing financial independence among Sri Lankan women and their growing desire to diversify into more sophisticated investments and thus to build their wealth,” it says.

A JKP- led discussion held which revolved around ‘Financial Independence for Women’, brought more insights into this appreciating asset class and local women’s growing zeal in it.

Roshanie Jayasundera Moreas- John Keells Holdings PLC Executive Vice President and John Keells Properties Chief Marketing Officer said,” There is nothing that can prevent a woman from learning about investments and taking steps to build her financial independence on her own. They now see property buying as an investment which is more secure and more lucrative than depositing money in banks. In fact, a good level of education as well as a clear perspective of what’s really going on in the market will help them identify the importance of a diversified investment portfolio. More women need to be made aware of these financial instruments because it isn’t a lack of risk appetite that deters women from investing, it’s a lack of awareness. That is why the knowledge about investment opportunities at-hand is vital to closing the investment and asset-owning gap between the two genders,” she said.

Several other business leaders took part in the JKP discussion including John Keells Properties Head of Sector, Nayana Mawilmada, DFCC Bank PLC Senior Vice President (Consumer Banking) Gillian Edwards and EY Partner, Anoji de Silva.