Feng Shui Belief Factors Affecting Housing Valuation

Abstract

          The objectives of this research were: (1) to understand the connection between the factors affecting Feng Shui housing prices and those considered in housing market valuation principles by comparing market values, and (2) to suggest guidelines for property appraisal, taking into account Feng Shui factors. The sample groups consisted of (1) representatives from leading Feng Shui companies and real estate experts in Bangkok who have collaborated with real estate firms, and (2) property appraisers. The sample size comprised 320 respondents who were approached for questionnaire collection.

            Findings from interviews with Feng Shui experts revealed that factors influencing housing prices include aspects related to the project environment and housing estate composition. These findings informed the development of questionnaires. The survey results indicated that property appraisers prioritize factors such as the size of the road within the project, the house's location within the project, the area of the house, the construction materials used, and the permanent interior installations. These factors are related to determining the market value of housing, as consistently observed by property appraisers, and elucidate the basis of value derivation.