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Hong Kong property
Business

Hong Kong’s ‘haunted homes’ sell for steep discounts during downturn, giving first-time buyers a way in

  • Properties stigmatised by murder or suicide can be around 30 per cent cheaper than ‘normal’ homes, according to agents
  • At times of market uncertainty, the bargains can become even greater as owners of homes tainted by unnatural death drop prices further still to compete

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Homes that were the site of untimely or violent death more often than not come with huge discounts for those brave enough to take the plunge. Photo: Jonathan Wong
Lam Ka-sing
Even in a slump, Hong Kong’s famously lofty property prices can be enough to send a shudder down the spine. But if that doesn’t do it, how about the thought of sharing a flat with a ghost?
Homes touched by untimely or violent death more often than not come with huge discounts for those brave enough to take the plunge, say agents. And during times of market uncertainty – such as now – the bargains can become even more pronounced, giving first-time buyers and investors an entry point.

“When the market softens, [these flats] will be less popular because owners of normal flats are willing to cut their prices. As the market booms, when prices are high, these flats with lower prices have a higher chance of selling,” said Jessica Chow, assistant district sales director at Century 21 Goodwin, an agency.

Properties stigmatised by murder or suicide can be around 30 per cent cheaper than “normal” homes, according to Joe Lee, deputy district sales manager at Centaline Property Agency. Even flats on the same floor often come at a sharp discount.

For instance, a flat measuring 612 square feet in Elizabeth House in Causeway Bay changed hands last May for HK$8.9 million, 22.6 per cent below market price, Lee said. The reason? It was on the same floor as an unsolved murder case dating back to 1984.

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