Real estate group tugs heart strings in market slump

HONG KONG: Real estate firm Hong Kong Resort (HKR) has launched an emotion charged campaign to encourage purchase amid a deep slump in the property market.

HKR is targeting young couples for the second phase of its Sienna development, which offers smaller units.

Its thematic campaign by Ogilvy & Mather reflects a change in tack by developers, who have been forced by the slump to play up the emotional draws of a home compared with their focus on price and features in the past.

O&M's Hong Kong managing director, Mike Wong, said agencies were now being tasked with selling dreams. "Buyers are looking for substantial reasons to buy - not just pricing, location. All (developers) have a good story to tell and it's becoming hard to differentiate; it was crucial to have an emotional bond with the consumer and not just offer a generic concept (of lifestyle living). As such, the TVC was relatively long - at 90 seconds - and delves into the issues young couples face in today's grim economic climate.

The next ad burst will go further to elaborate on the lifestyle Siena offers. O&M creative director Carol Lam said: "The TVC doesn't answer questions on the features - these are addressed in print, showing support from your family is quality living."