Chinese Real Estate Buyers, Feng Shui & Lucky Numbers
Chinese Real Estate Buyers, Feng Shui & Lucky Numbers
With Chinese buyers accounting for more than $10 billion in U.S. housing purchases in the past years, savvy real estate practitioners will make it their business to recognize what these clients want and need. Their tastes run from typical suburban residences to luxury accommodations in the city, but what they all tend to share is a belief in lucky numbers and a devotion to the ancient Chinese philosophy of feng shui.
Developers in markets favored by Chinese buyers are even starting to cater projects with these factors in mind. In one high-rise, for example, the biggest and most luxurious units were developed on floors 80 through 88; and many of those homes went to Chinese buyers, who associate the number eight with prosperity and wealth.
Incorporating the principles of feng shui, meanwhile, can increase home value and reduce days on the market. Ignoring them, however, can hurt sales -- particularly in markets like Los Angeles and Miami that boast a large Chinese buyer population.
Source: "Chinese Real Estate Buyers, Feng Shui & Lucky Numbers," Fix & Flip Network (07/26/12)
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