HONG KONG, CHINA - Halloween is fun when you can dress up in scary costumes and have a laugh with your friends, but such matter is treated differently in the East where many people really believe in ghosts.
This has urged real estate company Spacious to develop a method which enables local and foreign homebuyers to circumvent the high property prices.
In Hong Kong, many residents steer clear of properties with a history of murder, suicide and other unfortunate incidents as they believe they are inhabited by ghosts.
This has forced many local landlords to cut their original asking price by 50% in some cases.
The sharp rise in property price in recent years has transformed the Hong Kong housing market into the least affordable and most expensive one in the world. The cost of a new home in Hong Kong ranges from $260,000 to $640,000 depending on size while rent can reach $6500 a month in some areas. This has urged homebuyers to seek cheaper alternatives such as 'haunted' homes.
"Properties that have some kind of history of an 'incident' in them can go for up to 50% less than a normal one." Spacious CEO Asif Ghafoor said.
"For expats and others who don't believe in ghost stories, it's an unbelievable opportunity.
"I guess many Chinese people look at the haunted feature of the website as well, because they want to know what not to buy."
Spacious offers comprehensive real estate data analysis to landlords, agencies and homebuyers and easy-to-navigate and up-to-date listing services, including rentals of serviced apartments and overseas property for sale.
Properties can be categorized based on a number of variables, including past incidents, location, price, proximity to important local infrastructure, and other. The company's 'Haunted House' website and mobile app feature has been especially popular in recent months among locals and expats alike.
To see Hong Kong's haunted properties, please visit the main property-for-sale or property-for-rent pages and apply the ghosts filter overlay. The feature can also be accessed via Spacious' augmented reality mobile app.
Spacious was started by Asif Ghafoor, a former financial analyst for Goldman Sachs, in November 2007. The company aims to deliver the best end-to-end online real estate search experience.
Spacious has worked with a number of high-caliber clients, helping them grope their way around the Hong Kong real estate market. The company continues to generate leads for customers in bid to help them make better informed decisions in the real estate market.
For more information, please contact:
Asif Ghafoor, Founder and CEO
Telephone: +852 3460 4713
E-Mail: [email protected]