Feng Shui Two Story House
SMALL property developers have turned to feng shui principles in a bid to snare foreign buyers, following in the footsteps of larger corporate companies, such as Stockland.
“It quickly became apparent to us that if we were going to redevelop [the block], our developments should suit the Asian market, ” Mr Newman said.
One example of the consultant’s advice included positioning the rear exit out of sight of the main entry to avoid the homeowner’s wealth flowing directly out the back door.
Other considerations included the layout of the kitchen, careful positioning of windows and ensuring the houses had a good aspect.
The developer, Phil Newman, foreman, Damien Cook, and builder, Mark Newman, at the site of the construction on 34 View Street, Chatswood.
“You’d be crazy not to take it (feng shui) into account because Chinese interest in buying real estate in Australia is very high, and I think it will continue to be high because of the economic situation in China, ” said Mr Newman.
Juwai.com founder Simon Henry said four out of five Chinese-background buyers are willing to fork out extra cash for a property with good feng shui.
“Feng shui is another item on their list of desirables or non-negotiables, ” Mr Henry said, adding that feng shui is more important to high-budget buyers from southern China, Hong Kong and Taiwan, which account for the largest share of foreign Chinese purchases in Australia.
“Developers are incorporating feng shui elements into their projects, whether or not they believe in it themselves.”
It’s not just major developers who are thinking about feng shui, smaller ones are also becoming aware of the market trend.
Elizabeth Wiggins, a McGrath sales agent and feng shui expert who founded the Association of Feng Shui Consultants, said Australian developers have realised the value of feng shui.
“I’ve seen a massive increase in interest in feng shui, ” said Ms Wiggins.
“The last few years have seen an Asian influence in property in the Sydney area and developers have taken notice of that.”
Construction for 34 and 34a View St, Chatswood will be completed in mid-2016 and have been listed at $3.5 million and $3.35 million respectively.
And it’s not just Asians who care about feng shui — many of Ms Wiggins’ clients come from other backgrounds.
“There’s been a growth of people getting into it, people want to know ways to make the environment work for them and enhance their opportunities.
“They don’t have to be Chinese buyers.”
The kitchen has also been configured with feng shui principles in mind, so the person cooking will not have their back facing a passageway or door.
While feng shui elements are important, Asian buyers also prefer modern features. Mr Newman made sure his development included full-brick construction, a concrete slab on the first floor and a pitched tile roof.