9 Key Things Chinese Property Buyers Look For In A House
In light of Chinese New Year just around the corner (from February 5-19, to be exact), our Williams Landing real estate agents have one golden piece of advice: know your Chinese buyers. This year in particular is the Year of the Pig, which signifies wealth and prosperity and suggests good timing for real estate. With these nine secrets, you’ll know how to appeal to your Chinese buyers at this prime time.
#1: Feng shui
Feng shui is the ancient Chinese study of physical placement within a space in order to create harmonious energies. The art is in retaining as much qi (good energy) as possible within a certain space. For example, water is said to hold onto qi. When it comes to real estate, therefore, a pool or a home near a body of water can be a highly attractive selling point for some Chinese buyers.
#2: Lucky numbers
Although this may not be true for every Chinese buyer, numerology is a key part of Chinese culture. Certain numbers can trigger positive or negative associations in daily life for many, and it’s no different for house numbers, apartment floors and even property prices.
In Chinese culture, the numbers 6, 8 and 9 are considered to be the luckiest. These words in Mandarin are often associated with wealth, prosperity, good health and happiness. Any number including these numbers (such as 88 and 89 in particular) are also considered to be extremely lucky for this reason.
On the other hand, Chinese buyers may tend to avoid the number 4 as it sounds very similar to the word ‘death’ in Mandarin. This also includes any larger numbers containing the number 4. The number 66, for example, will be highly favoured over 64. In some cases, buyers will even be willing to pay a higher price if the numbers are lucky.
#3: Proximity to reputable schools
Close access to good education is valuable for most buyers, but emphasising this in your listing can capture your Chinese market. Whether your buyer is looking to move in, or simply invest, close proximity to good schools and universities is a selling point that will remain just as valuable down the track as it is today.
#4: High ground
It may seem like an arbitrary feature, but having a house situated on high ground is actually highly favoured by Chinese buyers. Because many temples in China are on high ground, it is considered to be good luck for your home to be in a hilly area.
#5: Value and yield
For any property buyer, regardless of their culture, yield is going to be one of the top points to consider before purchasing. For this reason, it is important to collect accurate information on the yield your property will generate.
Not sure how to do this? Our Williams Landing real estate agents have you covered. We will be able to assess your property’s potential rent yield and compare it against other properties in the area, helping your property stay competitive among the rest.
#6: Proximity to airports
Some buyers may want to manage their properties remotely, perhaps only visiting their Melbourne property a handful of times. On the other hand, buyers who choose to live in their new properties might be looking to buy near airports for convenient family visits and holidays back home. In both cases, close proximity to airports is another green tick in many Chinese buyers’ books.
#7: Home features
Certain home features (such as a pool and a garage) may seem standard but can actually be strong selling points to Chinese buyers. This is because housing in China can often be restrictive on space, especially for those who live in a city. Emphasising the spaciousness of your home in your listing is therefore a great way to highlight its value to Chinese buyers.
#8: Floor plan
Feng shui and general philosophical beliefs about the home can also influence Chinese buyers. According to SBS – who interviewed a feng shui expert based in Hong Kong – the home is often viewed as a human body, where the middle of the house is seen as the heart. A kitchen or bathroom in the middle of the house can therefore deter Chinese buyers, since it indicates a “dirty” or “heated” heart.
#9: Favourable locations
While a good location is important for any buyer, it is particularly valued by Chinese buyers, especially if the location is well-known. Buying into a well-known location that is close to local landmarks and rich with history is, for many Chinese buyers, a way to show to their peers that they are successful.
Williams Landing real estate
When it comes to selling a house, our Williams Landing real estate agents are the best in the business to have on your team. With over 10 years of experience in the real estate industry and leading resources at our fingertips, you can be sure your listing will excel above the rest – no matter what kind of buyer you’re targeting.