With secondary home prices remaining high for a long time, some prospective buyers are in a hurry to make home purchase decisions in fear of upcoming interest rate hikes, while others adopt a wait-and-see attitude. However, there are also alternate investors and users-occupiers looking after “special discount” units resulted from misfortunate events.
Here’s a quick review on misfortunate events that were updated on our haunted house database since February 2014. If you are planning to look into these neighborhoods, don’t forget to check if these units are still available.
Wong Tai Sin has a total of 6 misfortunate events. The district has a mix of residential blocks, from public estates and HOS-subsidized buildings to private residences. Wong Tai Sin is adjacent to Diamond Hill, which is where the future interchange station between the Shatin to Central Link and the Kwun Tong Line will be located. The property price in Wong Tai Sin has been going up lately, with an average price of HKD$7,241 per square foot in July. As there aren’t many listings available on the market, haunted properties at discounted rates are just as appealing.
Sha Tin has 6 cases as well. There is always a huge demand for rental flats in this district, especially during the summer hollidays when prospective University students plan to move into the areas close to schools. Sha Tin is the most popular location among the neighbourhoods along the East Rail MTR line, as there are five major universities nearby. There were over 450 transaction deals in Sha Tin for the past two months. Some well-located apartments can achieve rental yields of as much as 5-6% in peak seasons. Therefore, this could be an attractive investment opportunity in haunted flats.
Located in the New Territories West, Tin Shui Wai and Tuen Mun have 5 haunted cases each. For urban residents, these neighbourhoods are equivalent to deserted places. However, with the future large-scale infrastructures in place, it could be a different story. These areas will most likely thrive in retail and tourism when Hong Kong-Zhuhai-Macau Bridge, Tuen Mun – Chek Lap Kok Link and Tuen Mun Western Bypass drive traffic to the districts, which could possibly drive up property prices.
As mentioned in our previous articles, the reoccurrence of misfortunate events are minimal. Our Feng Shui Master, Master Philip Wong, has confirmed that Feng Shui has minimal effect on misfortunate events. For more information, check out the “Property Detox” article on our website.