Hong Kong expats search out “haunted” buildings to score cheap apartments

Hong Kong expats search out "haunted" apartments

Sep.September 14, 2016 10:30 AM

From the New York website: In famously pricey Hong Kong, apartments can be even more expensive than in Manhattan. But there is one easy — albeit eerie — way to score a bargain: move into an apartment where someone died.

Many Chinese residents of Hong Kong believe that a death in an apartment creates bad Feng Shui, and are typically reluctant to rent or buy it afterwards. Those who don’t believe in feng shui, including most expats, can benefit from that drop in demand and land a unit on the (relatively) cheap.

Spacious.hk, a listing site, tracks deaths in news and police reports and identifies the units in which they occurred. It then allows its users to filter their apartment search by tragedy, under a category called “haunted.” The company told Vice’s Motherboard that the feature is used more than 5,000 times a month.

The death discount can be steep. For example, after two prostitutes were murdered in a one-bedroom apartment at the J Residences building, its asking rent got slashed by around half, from $3,740.

“It’s all a part of feng shui—there are no hard and fast rules, it’s about how you interpret the magic,” Spacious’ founder Asif Ghafoor told Motherboard.

Bloomberg reported in July that Hong Kong’s real estate market is at its weakest point in 25 years[Vice]Konrad Putzier

Related Articles


China’s Anbang takeover could prompt national security review

Chinese investor backs out of $5.2B deal for Hong Kong skyscraper

Troubling sign: HNA group turns to employees to raise funds

National Cheat Sheet: Fannie and Freddie fight with the Trump administration, CushWake undergoes leadership shakeup amid IPO rumors … & more

HNA mulls selling assets amid mounting pressure from Chinese government

National Cheat Sheet: Compass gets boatload of funding, failing malls drag down on property values … & more

Key takeaways from The Real Deal’s Shanghai event

Will capital controls kill Chinese investment in US real estate?