Chinese Property Buyers Unique Buying Preferences
In a past life working in New Zealand’s property market, I learnt a lot about Chinese Investor preferences when it comes to buying real estate. South America is yet to see the waves of Chinese immigration that New Zealand has, but they will come as they feel more comfortable with it as a living and investing destination. They will tend to keep to the major cities where education and commerce is done. Chinese Property Buyers Unique Buying Preferences is something that can be learned but in the end if you are going to be serious about working with the Chinese community and you are a real estate business you need to think about employing Chinese people. That is my experience.
There are at some major differences between the buying preferences of Chinese immigrants and other ethnic groups.
Chinese put a lot of important on numbers. They preferred to buy properties with certain street numbers or floor numbers – 2, 3, 8 and 9 are good but 4, 13 and 14 are to be avoided. In fact the number four is associated with death. 8, 88, 88 etc is the ultimate number and you will see this on cars where it is possible to buy custom number plates.
They prefer newer buildings which often cost less to maintain than old ones.
Buildings, and houses in particular, on elevated sites are more popular than those in gullies or hollows.
They don’t like to overlook or be close to cemeteries or other places associated with death.
They avoid brick buildings due to perceived earthquake risks
They don’t like wooden buildings
They prefer National or International tenants for long-term security when buying commercial properties along with secure long term leases.
They place a lot of importance on the principles of Feng Shiu which means good energy.
In Feng Shui floor plans, the front/main door will not be directly aligned with another door or a big window. The front door will also not be facing the closet doors, the bathroom door or a wall within less that a metre from it.
A very important Feng Shui concept regarding the front door of either a house or a business is that the front door should always open inwards, and not outwards. A front door opening outwards is pushing away most good energy, thus the property cannot benefit from good Feng Shui.
Last but not least, good Feng Shui floor plans will never have stairs facing the front door with less than a meter distance from each other. In general, no matter what the distance between the staircase and the front door, this set-up is considered poor Feng Shui and is best to avoid.
Ideally, your front door leads to a nice entrance way that can promote a smooth flow of energy and serve as a grounding transition between the outer and inner world. Good Feng Shui in the entrance way means an almost independent, self-enclosed space that has “good bones” and allows the client to create a space with clear personality – there is a place to sit down, to leave your outer belongings and catch a breath before proceeding to other rooms in the property.
More and more International home and commercial builders are studying these Feng Shui concepts and using them for general clients as they make perfect sense for everyday comfortable living.
Many Chinese clients buy, not with strict investment principles but for their families future. When it comes to buying commercial properties they seek a steady income stream for the next few generations.
“They’re buying for the long-term future. A lot of them are looking for 10 or 15 years or more. They’re not looking at the immediate return. They might be prepared to take a lower return in the short-term for long term gain.
“A lot of Chinese people like saving and they perceive that property is good for that. They might not be able to use the money for themselves but they’re investing for the younger generation, so they take a longer term view than Europeans and Latinos.
They also have very definite views when buying farm land but I will leave that for another post.
Contact the Gateway to South America team to learn about the best investment opportunities in the region. The company is a benchmark for foreign investors wishing to invest in Argentina, Brazil, Chile, Paraguay, Peru and Uruguay, providing expert advice on property acquisition and investment tours.