Chinese and non-Chinese real estate marketing and mortgage strategies in the Auckland residential market
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Permanent link to Research Bank record:http://hdl.handle.net/10652/1411
The Auckland real estate industry is a prosperous, healthy and developed industry in New Zealand. It is also a multicultural market which is constituted by a large percentage of Chinese ethnicity. It is very important to research the ethnicity difference and how the difference influences the marketing strategies and mortgage strategies in the market. The study clarifies the roles of real state personnel as advisors, negotiators and also educators. Chinese personnel due to their language ability and the familiarity of the local market can provide particular service to Chinese speaking clients in Auckland and overseas. This market does not classify the clients by ethnicity but the cultural roles influence the purchase behaviours and the decision making. Chinese clients have cultural features which the personnel may build more trust with the clients if they realize and are familiar with these features. The marketing strategies are not based on the diversity of ethnicities because of the successful market segmentation practice. The Chinese community has a comparatively negative attitude to mortgage than non-Chinese. Therefore, Chinese clients normally pay the loan by a shorter duration and a higher down payment for owner occupied houses. The other mortgage behaviours have no evident difference between Chinese and non-Chinese in the Auckland region.