How the Lucky Number 8 May Result In More Real Estate Deals in 2018

Yoursz.com Wed, 14 Mar 2018 15:55:38 GMT

With the 2018 Chinese New Year beginning on February 16th, 2018, there is great anticipation for many new business deals and an excitement that real estate agents have started to notice.


Experienced international real estate agents understand how important the potential influence of numerology can be when it comes to the popularity of a property for Chinese real estate investors.


The number eight when spoke in Cantonese is similar to the word for “prosperity”, which can make a property more desired among Chinese buyers [1]. The number 18 also sounds similar to the phrase, “I want to be very wealthy” when spoken aloud in Cantonese.


While 8 is the luckiest number, 4 is considered to be an unlucky number because it sounds like the word for “death,” and thus it is often avoided [2]. This often results in feng shui buildings totally lacking a fourth floor and using other numbers for units.


The consideration has even extended to homebuyers who aren’t Chinese but are moving to neighborhoods with many potential Chinese buyers.


Homes with 4s in their address are sometimes avoided or requested to be changed by potential buyers because of resale concerns. Street numbers are equally influential, ideally having as many 8s as possible or ending with an 8.


Numbers are one of many factors


Of course, lucky numbers are just one of many important considerations for Chinese homebuyers and investors. And a similar superstition can be seen throughout the United States – many buildings lack a 13th floor since the number is associated with bad luck.


Fundamental factors still matter more than anything else to Chinese property investors such as location, feng shui principles, the neighborhood, amenities, nearby attractions, educational quality, and the potential for property values to rise.


Homes that incorporate feng shui principles will continue to be in high demand, with 86 percent of Chinese buyers stating that it will play a role in their future homebuying decision in a 2015 survey by the National Association of Realtors [3].


Homebuying anticipation is high for the year 2018


With the auspicious Year of the Dog arriving soon, many Chinese real estate investors are eager to improve their portfolios. Buyers who have been sitting on the fence have been eager to finalize their property search at the start of 2018.


International real estate investments continue to be highly sought after due to increased property buying restrictions in China and some uncertainty regarding a potential housing bubble. Many agents have already seen an increase in activity in several international markets such as Toronto, New York City and Seattle.


The potential for interest rate increases this year in the United States and other countries is also driving many Chinese buyers to take action in the near future rather than waiting.


As the New Year arrives, a wave of homebuying is anticipated. There may also be an upsurge in buying activity around the month of August (8/2018) because of the numerology significance, as well as last minute purchases prior to the year changing to 2019.



References


[1]  https://www.mansionglobal.com/articles/86798-a-lucky-year-for-chinese-real-estate-buyers
[2]  https://www.realtor.com/news/trends/can-lucky-numbers-help-sell-your-home-to-specific-buyers/
[3]  https://www.inman.com/2015/11/23/chinese-homebuyers-say-feng-shui-is-imperative/