Utilising the ancient practice of Feng Shui could assist in attracting more investors to Australian properties, according to new HSBC research.
Australian audiences may be relatively new to the philosophy of Feng Shui or living in harmony with your surroundings.
But with foreign investors from China and Singapore spending a combined $16.6 billion on Aussie real estate in 2019-2020, according to Australian Foreign Investment Review Board data, the time is now ripe to pay closer attention to the ancient Chinese practice.
Research from HSBC reveals that 57 per cent of Australians are more inclined to purchase real estate maximising chi (or energy).
In comparison, a massive 82 per cent prefer how a home utilising Feng Shui looks (despite not knowing how its principles work).
Respondents also believed practising Feng Shui could significantly improve a home’s environment and its residents’ health, wealth and longevity.
In fact, with evidence to suggest the ancient Chinese tradition can positively affect Australian property values, it’s safe to say the trend towards using Feng Shui to alter a development or residential layout is growing.
Australian property developer TQM recently engaged Hong Kong Feng Shui master, Hangsheng Li, to deliver a presentation to over 100 guests on the unique location of its new Hurstville development—Lotus Residence.
Mr Li explained why Hurstville is home to more Chinese residents than any other Australian suburb and how Lotus Residence represents the “missing piece” in the neighbourhood’s development.
According to Feng Shui principles, Hurstville’s landscape resembles a dragon, representing power, success and good luck in Chinese culture. Lotus Residence occupies the vitally important position at the “eye” of this dragon landscape, affecting the suburb’s overall prosperity.
A Chinese idiom -“Paint the Dragon, Dot the Eyes” – suggests a dragon painting would come alive when the artist finished drawing its pupils. In the same way, Lotus Residence adds the final touch to Hurstville’s dragon landscape, bringing the neighbourhood to life.
Other Feng Shui elements make Lotus Residence more attractive to Chinese buyers in the know. The development is located at the entrance of the ‘dragon-like suburb, according to Mr Li, creating a perfect place for “water” to flow inwards to the heart of Hurstville.
The timing of the construction (2021-2023) is also auspicious, coinciding with the fortune star that sits in Sydney’s northeast precinct and promises to bring great prosperity to its residents.
Mr Li also refuted claims that the development’s triangular structure and roads directly in front and behind were ominous.
“Feng Shui is much more complicated – its literal meaning is ‘wind’ and ‘water’, signifying vitality, field energies, flow and change in your surroundings,” he explained.
“The commonly misunderstood ‘T-intersection’ layout is an ideal Feng Shui structure for shops and retail because it delivers constant flow and live energy to an area.”
On the other hand, Feng Shui for residential properties emphasises living in harmony and good health, and often requires a tranquil location.
Other ways to attract Feng shui-driven buyers:
- Front of house: Called the ‘phoenix space’, it should be open to allow good chi to gather and nourish the house. Feng Shui followers also believe energy passes directly in one door and out the other, resulting in lost wealth. So, if your front and back doors are aligned, position a screen to redirect the flow of energy in a more auspicious way.
- Sides of house: The right (or dragon) space should be slightly higher than the left side (tiger space) to allow good support and prosperity.
- Back of house: Your turtle space should be a raised backyard, traditionally in a mountain shape. If your backyard slopes downwards, you can combat this with a high fence, hedge or plant wall.
- Numbers: If your house number is a favourable one, use it in your marketing campaign. The number eight means prosperity or success, and nine means high attainment, making them attractive to Chinese homebuyers. The philosophy also applies to floor numbers.
- Mirrors: Adding a special Bagua mirror over the door outside your home can block negative chi entering.
- Stairs. Feng Shui issues abound with stairs. The problem lies in how they redistribute energy. A staircase should never directly face the front door.
Feng Shui is as essential as any other home wish list for some buyers, such as three-bedrooms or ocean views.
Others will pay a premium for great Feng Shui, with one buyer reportedly rounding up the asking price from $455k to $488k because 88 is considered a lucky number.
Whether you’re an enthusiast or a sceptic, there’s no doubt Feng Shui’s steady rise in design popularity is making a significant impact on Australia’s residential market.
Taking time to understand its basic principles can help sell homes faster and for a higher price.