Hong Kong: Hong Kong property prices have risen so high some desperate house-hunters are now prepared to do the once unthinkable and buy a “haunted home”. Over half the respondents in a REA Group Ltd survey said they would consider purchasing a haunted apartment. Around 65 per cent said price would be the motivating factor.
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“Property prices are still way too high for most people living in Hong Kong, so many have started to explore other alternatives,” said Kenneth Kent, REA’s Hong Kong country manager.
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In Hong Kong, units in which people have died due other than by natural causes are considered haunted. Apartments where suicides, murders and accidental deaths have occurred are typically sold at a 10-20 per cent discount, according to Perry Fong, a director at Centaline Property Agency Ltd.
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“This is generally a taboo in the market, since it is dominated by locals,” said Fong. “Foreigners are less concerned, and may buy them for the lower prices.”
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Even though Hong Kong is one of the most westernised cities in Asia, buying a haunted home is unthinkable to most local residents. The houses are regarded as having bad feng shui, which is a major concern for buyers.
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Hong Kong’s property prices recently climbed to a record before declining against the backdrop of increased US-China trade tension. Market sentiment has turned more bullish in recent days with the Federal Reserve opening the door to a rate cut and news of more promising trade talks.