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Homebuyer buries copper plates in Sydney flat for good luck
Mar 29, 2023
Homebuyer buries copper plates in Sydney flat for good luck Sydney
By   Sam Murden, Property Journalist
  • City News
  • Homebuyers
  • Townhouses
  • Apartments
  • Property
Abstract: A home buyer from China has raised eyebrows in Sydney after asking for copper plates to be buried under the floor of his multi-million dollar townhouse on the North Shore.

It follows a growing trend of local and international Chinese buyers looking to buy off-plan units that can be easily personalised.

 

Plus Agency managing director Peter Li sold a townhouse in Lindfield's recently completed Wolseley Eight development to a Chinese buyer last year for $4.786 million.

 

The buyer asked for copper panels to be laid on the floor, a practice considered good feng shui - as the owners were thought to be "walking on luck".

 

"Copper shines like gold and is also a very conductive metal. These copper plates are to be placed on the entire floor," says Lee." We have stacks and stacks of copper sheets in our office. When the builder is ready for more packs, we bring them there."

 

Lee told The Daily Telegraph that agents often meet buyers' requests to get off-plan sales over the line, stressing that these properties can be personalised before purchase.

 

"In an established building, the hob might be induction, but the buyer might want gas because they want to cook traditional Chinese food ...... Buyers may require an oversized extractor hood because of this heavy cooking. They may want fly screens on the windows and they may want an electric car charger in their parking space.

 

"Everyone needs a strong reason to buy and you can no longer just sell ordinary units. Agents need to really deliver on that."

 

From putting a mirror in the wardrobe to using white marble or light-coloured worktops, buyers of off-plan flats are able to have a range of feng shui connotations for a relatively cheap price.

 

Copper itself is one of the materials used in feng shui because of its conductive properties related to the flow of energy.

 

Mr Lee said that since international travel resumed, he had seen more buyers than usual buying off-plan flats.

 

Rising interest rates have also attracted these buyers, who are willing to pay higher figures for these flats because of the higher return on investment for the space being rented out.

 

"You naturally pay a premium for a brand new property, but these new units and townhouses have far better features, finishes and fixtures than existing homes in the same suburb - which drives the premium up further.

 

"Chinese buyers trust the off-plan market in Australia because it offers more protection to buyers than in China. In China, if you buy off-plan, you start paying your mortgage before the property is settled. This is not the case in Australia. Also, there are no trust accounts in China, so if your developer goes bust, you lose your money. Here, you get your money back."

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Homebuyer buries copper plates in Sydney flat for good luck
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