Feng Shui principles and the Malaysian housing market: what matters in property selection and pricing?

Abstract

Purpose

This study aims to investigate Feng Shui elements that can influence housing selection and property pricing in the Malaysian housing market.

Design/methodology/approach

A structured questionnaire encompassing 26 Feng Shui elements, which were shortlisted based on relevant previous studies, was distributed to prospective homebuyers in the Klang Valley region. The elements were inferred and ranked according to frequency, significance and importance scores. Kruskal–Wallis ANOVA tests were used to assess the ratings provided by the different respondent groups, while Spearman's rank correlation tests were utilised to measure the degree of agreement or disagreement among each pair of the ethnic group.

Findings

The results obtained indicate the following as the five most influential elements: orientation, main entrance, street location, house number and living room. Despite a multiethnic and multicultural society in Malaysia, Spearman's rank correlation tests showed that there are no differences in the prioritisation of Feng Shui elements between three distinct ethnic groups (Malay, Chinese and Indian). However, the distribution scores are statistically different between the groups. Comparing income level with Feng Shui inclinations, the three most frequently considered elements across the three income groups consistently include orientation, main entrance and street location.

Practical implications

The findings of this study are expected to provide guidance to property stakeholders (developers, real estate agencies, architects, local authorities) in their future development projects. For homebuyers, this study serves as a property Feng Shui checklist for home selection and investment.

Originality/value

This study explored the association of Feng Shui principles to housing selection and property pricing based on cultural and income factors. These findings provide useful insights for designing and positioning of residential properties in both primary and secondary housing markets in Malaysia and beyond.

Citation

Yap, J.B.H. and Lum, K.C. (2020), "Feng Shui principles and the Malaysian housing market: what matters in property selection and pricing?", Property Management, Vol. 38 No. 5, pp. 643-664. https://doi.org/10.1108/PM-01-2020-0001