Consumer and Home Design Trends

Happy New Year: Foreign Buyer Trends You Should Know Celebrating the Year of the Red Fire Monkey

January 27, 2016

January 27 marks the beginning of the Chinese New Year season that ends on February 22. Since sales will slow while buyers focus on special events and reconnect with loved ones, we thought we should give some sales and design tips when selling to Chinese buyers.

Consider joining in the festivities to connect and reconnect with prospects by giving children red envelopes with a gold coin on the New Year, which is celebrated on February 8, 15 (which is the 8th day of the season), or 18. Giving the gift on a day associated with an 8 is believed to bring good luck for the coming year. Another idea is to decorate your sales facility with glowing lanterns at the end of the Spring Festival celebrations on February 22 to add a festive and familiar ambience to your community.

The Year of the Monkey portends dealing with quick changing financial events, and one needs to outsmart the monkey to receive good return for one’s money. Position your community correctly, and the sales process could move quickly this year.

Our DesignLens subscribers recently received a special feature focusing on the cultural buyer, a market segment that spent over $29 billion on home purchases in 2015, according to the National Association of Realtors. Gain insight on how your next product can appeal to this growing market segment by understanding the critical design elements.

Highlights include:

Source: DesignLens

Prominent front entries, with direction and design preferences

Source: DesignLens

Appropriate kitchen configurations. Avoid interaction of Fire and Water elements. For example, the sink and stove top should not be placed opposite one another, causing the cook to stand between the two forces of nature.

Source: DesignLens

Incorporation of prep kitchens. High-heat kitchens are important for cooking with oil and foods that leave odors. Outdoor kitchens are an acceptable alternative.

Source: DesignLens

Ventilation in bathrooms. Natural ventilation is important to this consumer. Add a window in water closets whenever possible.

Source: DesignLens

Thoughtful storage solutions. Add special shoe cabinets near entries to the home or bedrooms.

Understanding different cultures and the traditions and design principles that are important to them is an opportunity for contributing to the success of your new community. Understand your consumers and be better prepared to meet the needs of this important market segment, plan accordingly, and share in this year’s good luck.

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