The real estate market in Hong Kong is extremely competitive. With the market becoming tighter and more difficult to navigate, landlords have turned to staging to help boost their sales.
Staging is the engagement of professional home stylists to prepare a property for lease or sale with select furniture. While this concept has been around and particularly popular in the US, Australia, and the UK, it has recently started to gain traction in Hong Kong.
Read on for why home staging works and what advantages you can get out of it.
Staging helps buyers visualize what they want.
In an article featured in Liana Press, Laurie Lankester, Director at Dwellworks Residential Real Estate and Destination Services Solutions in Hong Kong, says, “It is quite surprising how few people really can visualise an empty space transitioned to their own place!”
The main purpose of staging is to convince buyers through strategic and aesthetic choices, that your space is their next home. Buyers are going over multiple other properties trying to find the ‘perfect one’, and you want to sell them their dream home and the ‘this is it’ feeling by providing them with a beautiful space that they didn’t know they needed.
Staging helps boost your home’s appeal both physically and digitally.
Before a buyer checks out a property, he or she has already done some initial research online. That means scouring through multiple photo albums and websites to narrow down the choices on places to visit.
Nowadays, everything is digital. Not only that, in a world hooked on social media such as Instagram and Facebook, photos are everything. People’s choices are largely influenced by how something looks online. Never mind if the actual property looks better in real life, if your photos are low quality and taken hurriedly on your phone, your chances of attracting customers decrease significantly.
Having your home staged means working with a professional who will make sure to showcase your property in its best light. Most of the time, they’ll even have a professional photographer on hand to take photos of your space, which you can then use to promote online.
Don't just take our word for it, home stating has its own statistics to back it up!
An article from South China Morning Post quotes the US National Association of Realtors, saying that a staged home will most likely sell for 17% higher than a non-staged home, with statistically less time on the market.
In a 2019 survey done by Home Light, which surveyed 900 of the top real estate agents in the US, the following information was found:
- 92% of top agents find home staging to be beneficial toward selling the property in general.
- Over 50% say that staging increases a home’s value from anywhere between 1%-10%.
- 83% of agents say that a staged home will sell faster than an unstaged home.
Of course, professional staging will cost you as well. However, when you consider the statistics that staging can help increase the property’s value as well as help sell your property faster, it may be worth the investment.
With the staging trend rising In Hong Kong, the service itself might soon be considered an indispensable step to selling a property. Other landlords and real estate agents will be sure to take advantage of this service, and now might be the perfect time to join the bandwagon to avoid getting left behind.
Looking for a professional service to help make your property look its best? Føerni offers furniture rental of high quality pieces as well as staging advice. You can email us at email@example.com and check out our website at www.foerni.com.