Do you as a property owner know that your home address number could means tens of thousands extra dollars when you sell your property to Chinese buyers?
Some Chinese home-buyers will pay tens of thousands of dollars more for addresses containing the number eight, but shun those with a four.
AC Property estimated Chinese buyers spend an annual $4 billion on Australian properties — and as much as a quarter of those transactions could involve a range of superstition-driven preferences.
These include the number eight, not just in addresses but in land size.
“Recently we had a property in Box Hill on an 888sq m block. It was well received,” AC Property’s Esther Yong said.
“We’re also seeing developers target Chinese buyers by making a building’s address 88, 80 or 18, even if there aren’t that many houses on the street. Chinese buyers consider these numbers very lucky. The Chinese word for eight is similar to the word for prosperity,” Ms Yong said.
Senior public servant Rui Ma, 38, last week successfully bid $1.385 million — well over the reserve price of $1.2 million — on a three-bedroom house at 8 Smith St, Rozelle.
“The street number alone is worth $20,000 to $30,000 more,” the Beijing-born Australian resident said.
Mr Ma and other Chinese buyers avoid properties having any association with the number four, including units on a fourth floor. The Cantonese pronunciation of the number is the same as the word for death.
Other bad omens are north-facing homes or those at the corner of T-junctions, which many view as a poison arrow pointing at their home. Some Chinese buyers also don’t like the back door being visible from the front door, as they think positive energy can escape.
“Not every Chinese buyer is the same and not all are (superstitious), but they definitely tend to view properties differently,” Ms Yong said.
Practical considerations include closed-off kitchens so that strong smells don’t circulate.
What Chinese Think Lucky:
1. Addresses with an 8
2. Front doors on side of high-elevation homes, or in middle if on flat land
3. Free-flowing traffic
What Chinese Think Unlucky:
1. Addresses with a 4
2. North-facing homes
3. Homes on the corner of T-intersections
4. A back door visible from the front door