Feng Shui and its impacts on land and property developments

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

32 Scopus Citations
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Original languageEnglish
Pages (from-to)152-163
Journal / PublicationJournal of Urban Planning and Development
Volume125
Issue number4
Publication statusPublished - 1999

Abstract

Although there are many variables affecting the housing price of an area, only three significant independent variables ('Feng Shui,' 'Accessibility,' and 'Building Age') are studied in this paper. It is found that the correlation between 'Feng Shui' and 'Housing Price' is the highest, yielding a regression coefficient of 0.95. The one between 'Feng Shui' and 'Building Age' is - 0.699. It implies that areas with better Feng Shui have more new houses. The propensity to build is high. Among these three independent variables, it is very interesting to discover that Feng Shui is a determining factor in relation to the dependent variable of 'Housing Price.' Feng Shui may be controversial. Its theories are still contentious. However, Chinese culture plays a very important role in housing prices, and in the villages, it determines the values and beliefs that dictate expectations as well as responses to those prices.