The increasing footprint of Chinese and Singaporean investors in the Australian real estate market has seen a corresponding rise in the influence of the ancient Chinese practice of Feng Shui on property values.
Described as living in harmony with your surroundings, the philosophy of Feng Shui may be relatively new to Australian audiences; however, with foreign investors from China and Singapore spending a combined $16.6 billion on Australian real estate in 2019-2020 (source: Australian Foreign Investment Review Board), it’s time to take a closer look at this practice.
New HSBC research reveals that 57% of all Australians surveyed believe Feng Shui could increase the value of their property, while 82% prefer the look of a home that utilises Feng Shui without even realising it. While only 6% of respondents had a deep understanding of its principles, a significant number believed it could create a more comfortable home and improve health.
Feng Shui principles are increasingly being applied in the property development sector to alter layouts and increase their selling potential.
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 Lotus Residence, their new luxury apartment development in Hurstville – the cosmopolitan heart of Sydney's South.
According to Li, Hurstville is a preferred residential location for the Chinese community compared to other Australian suburbs because of the landscape resembling a a dragon, representing power, success and good luck in Chinese culture. Additionally, Lotus Residence occupies the vitally important position in the ‘eye’ of this dragon landscape, impacting the suburb's overall prosperity.
Chinese buyers are also drawn to the inclusion of other Feng Shui elements in the development; located at the entrance of the 'dragon-like suburb’, it creates 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.