When it comes in investing something for the family or the home it is always matched with great superstitious rituals. We always equate a home or any property with good luck and passed Fengshui verifications. Seems funny, but most observe this Fengshui. We do such rituals like carrying first sweets, salt, sugar and flowers to our new home during the first moving in. Not only that, sometimes even the address of the home should end in eight, in contrast to 4 which is considered unlucky number for the home address.
Curious to know as to those influential people who purchase lucky addresses in Singapore? The author of the book, Kiasunomics: Stories of Singaporean Economic Behaviours, Dr Sing Tien tried to investigate the result of properties in real estate market given a Fengshui. Dr Sing together with his team scrutinized more than 54,000 transactions of skyscraper apartment from the year 1995 to 2012 and this is what they discovered:
Auspicious addresses have higher prices, 2% – 3% more compared to regular addresses.
On the other side, inauspicious addresses are likely to be 1.4% cheaper over regular addresses.
Singaporean Chinese purchasers prefer auspicious addresses home
Here’s the most intriguing part, the need for auspicious areas of Chinese buyers are focused in non – prime regions.
One possible reason, these Singaporeans buy auspicious address to increase wealth thus increases also the status of the society. If you reside near Bukit Timah, a place for well to do families, then you need not find any auspicious address areas. And If you are in the neighbourhood of Yishun, then it’s another story.
Buyers who consider themselves bit unlucky and hopeless often end up in buying auspicious addresses.
Singaporeans who are often caught in traffic violations or engaging in some traffic incidents prior to acquiring a property expresses a stronger urged to acquire an auspicious address home. Perhaps they are positive that having an auspicious home will keep them away from negatives vibes.
How far will you go just to be able to secure an auspicious address home?
We conducted a survey to know as to what extent will they be paying for that auspicious addresses. The following are the feedbacks:
Jasmine 25, accountant: “Not a single penny, I tried to apply for a BTO unit together with my fiance and really found it so costly. Honestly, I can’t understand why people need to pull out a huge amount from their wallet just to acquire a home having an address ending in 8.”
Nancy, 32, HR: “I am not yet crazy. Why would I spend more for silly beliefs? I would rather spend a huge amount on repair and beautification of my flat. At least I would be seeing the fruit of my hard earned savings.”
Guo Qiang, 31, a realtor: “I am a product of old school and I would not mind spending huge just to have that auspicious address home. I am fine with $5,000 extra, but not exceeding to that amount also.”
Shawn, 36, teacher: “No not me. I am a product of Technology era. Why would I be adopting such rituals and traditions? I believe the luck is when a person works hard with all his heart and soul. If given the chance, I prefer to buy the inauspicious address so I can save more.
Richard, 40, medical worker: “I am not aware that there is stuff like an auspicious address. I really did not know that numbers have an effect on our homes and to our lives. My take is no. I won’t pay more just to have that auspicious address.
Singapore’s lucky addresses
Planning on acquiring a property with a lucky address? You need not limit yourself to flats ending in “8”. I discovered some properties which have an auspicious name!