Feng Shui: Driver of Home Selection and Investment for Chinese-Americans

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1 Feng Shui: Driver of Home Selection and Investment for Chinese-Americans Key findings from a survey of Chinese-Americans by Better Homes and Gardens Real Estate and the Asian Real Estate Association of America (AREAA)

2 Survey Demographic Information Better Homes and Gardens Real Estate and the Asian Real Estate Association of America (AREAA) conducted a joint national survey of 500 Chinese-Americans ages 18+ to understand the impact of feng shui on this population s home buying mindset and preferences. Age of Respondents: 13% 26% % % 33% % 55+ Family Origin: 47% originated in Mainland China 24% originated in Hong Kong 16% originated in Taiwan 13% originated elsewhere Gender: 41% male 59% female Marital Status: 51% married 50% unmarried 24% 16% *Data based on responses of survey respondents and may add up to slightly more or less than 100% due to rounding

3 Survey Demographic Information 48% Home Buying Status: 9% 24% Have Ever Purchased Home in the US: 69% have purchased a home 32% have never purchased a home Chinese-American Homeowners in the US: 72% are current homeowners 28% are not current homeowners Region (in the US) 24% live in the Northeast 19% live in the South 9% live in the Midwest 48% live in the West 19% *Data based on responses of survey respondents and may add up to slightly more or less than 100% due to rounding

4 What is Feng Shui? Feng Shui is a set of principles which are considered to dictate spatial arrangement and building design to product a harmonious flow of energy (or qi ) 76% of Chinese-Americans are familiar with the principles of feng shui THE FIVE FENG SHUI ELEMENTS: Water Metal Wood Fire Earth More than 50% of those who are familiar follow the practice in their daily lives.

5 Impact on Home Selection and Investment The importance of feng shui extends to home buying: 81% of Chinese-Americans who are also homeowners indicated that feng shui factored into their most recent home purchase 86% think feng shui will play a role in a future home buying decision 90% Of buyers think that feng shui increases a home s resale value 79% More than a third would avoid an agent if they had no knowledge of feng shui principles How they shop: 36% 85% Would bring along a family member (other than a significant other) when house shopping Would pay more for a home that follows feng shui principles How much more? Respondents indicated they would be willing to pay an average of 16% more 16%

6 Finding Feng Shui 75% of all Chinese-Americans have a feng shui deal-breaker that would keep them from purchasing a certain home. 31% would not buy if the home was at the end of a dead-end street 29% would not buy if the home s stairs were directly facing the front door When asked to rank the feng shui principles that would be important in a home buying decision the top three choices included: 71% said the direction the home is facing 67% said the location of the home on the street 29% would not buy a home with a sloped backyard 24% would not buy if the home s front and back doors align 38% said the location of the stairs in the home

7 Designing with Feng Shui The kitchen, bedroom and bathroom represent feng shui s health trinity 87% 72% 62% of Chinese-Americans have essential feng shui elements they desire for their kitchen: of Chinese-Americans have essential feng shui elements they desire for their bedroom: of Chinese-Americans have essential feng shui elements they desire for their bathroom: Being organized and free of clutter (64%) Colors complementing each other (32%) Stove not being directly below the master bedroom (29%) The bed not directly facing the door (41%) Mirrors being placed away from the bed (34%) Ceiling having a consistent height with no slopes (25%) Located away from the home s center (28%) Toilet being in a separate space (24%) Having a full length mirror in the room (23%)

8 About the Survey About the Survey The Better Homes and Gardens Real Estate Feng Shui Survey was conducted by Wakefield Research among 500 Chinese-Americans ages 18+ between May 29 and June 8, 2015, using an invitation and an online survey. Quotas have been set to ensure reliable and accurate representation of the Chinese-American population ages 18+. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 4.4 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample. About the Asian Real Estate Association of America (AREAA) The Asian Real Estate Association of America (AREAA), established in 2003, is a national business trade organization focused on expanding housing opportunities for Asian American communities and creating business opportunities for real estate business leaders who serve this growing market. With over 14,000 members in 37 chapters across North America, AREAA is the largest real estate trade association focused exclusively on serving and supporting the Asian American community. Better Homes and Gardens is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC and used with permission. An Equal Opportunity Company. Equal Housing Opportunity. Each Better Homes and Gardens Real Estate Franchise is independently owned and operated.