{"id":13809,"date":"2018-02-24T04:43:47","date_gmt":"2018-02-23T20:43:47","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=13809"},"modified":"2022-07-01T04:47:48","modified_gmt":"2022-06-30T20:47:48","slug":"pay-for-auspicious-address","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/pay-for-auspicious-address\/","title":{"rendered":"How much more would you pay for an “auspicious” address?"},"content":{"rendered":"
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When it comes to buying a home, there are plenty of superstitions that guide our actions. We look for an <\/span>apartment which has good fengshui<\/span><\/a>. We perform certain rituals (such as <\/span>carrying fruits into our new home<\/span><\/a>) when we first move in. We also prefer auspicious addresses which end with 8, as opposed to unlucky addresses which end in 4. (Cover image credits<\/a>)<\/span><\/p>\n

Curious to learn more about who are the people buying auspicious addresses in Singapore? In Dr Sing Tien Foo\u2019s recently published <\/span>Kiasunomics: Stories of Singaporean Economic Behaviours<\/span><\/i>, he examines the effects of superstitions on purchases in the housing market. Together with his co-authors, Dr Sing looked at over 54,000 transactions of high-rise apartments spanning from 1995 to 2012, and here\u2019s what they found:<\/span><\/p>\n

Auspicious addresses are 2% – 3% more expensive than regular addresses.<\/strong><\/h3>\n

On the flip side, unlucky addresses tend to be 1.4% cheaper than regular addresses.<\/span><\/p>\n

Singaporean Chinese buyers are more likely to pay for auspicious addresses.<\/strong><\/h3>\n

Here\u2019s where things get interesting: demand for auspicious addresses among Chinese buyers is specifically concentrated in non-prime districts. <\/span><\/p>\n

One possible explanation? These buyers purchase an auspicious address in order to signal their wealth and status. If you\u2019re living at Bukit Timah, you\u2019re obviously rich, so there\u2019s no need to secure an auspicious address. If you\u2019re living in, say, Yishun<\/a>, that\u2019s a different story! <\/span><\/p>\n

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Buyers who are down on their luck are more likely to pay for auspicious addresses.<\/strong><\/h3>\n

Those who committed traffic offences, or were victims of traffic accidents prior to buying an apartment exhibited a stronger preference for auspicious addresses. Maybe they’re hoping that an auspicious address will ward off the bad luck?<\/span><\/p>\n

How much more would you pay for an auspicious address?<\/b><\/h3>\n

We hit the streets to survey people on how much they would pay for auspicious addresses, and here\u2019s what they said:<\/span><\/p>\n

Alyssa, 25, finance professional:<\/strong> \u201cNot a single cent. I just applied for a BTO flat with my boyfriend, and it\u2019s expensive enough as it is. It just doesn\u2019t make sense to me to fork out extra just to have my address end with an 8!\u201d<\/span><\/p>\n

Jamie, 32, HR:<\/strong> \u201cI wouldn\u2019t pay more. I\u2019d rather spend the extra money on renovating my flat. At least you get something tangible out of it!\u201d<\/span><\/p>\n

Guo Qiang, 31, insurance agent:<\/strong> \u201cI\u2019m a pretty kiasu person, so I wouldn\u2019t mind paying a bit more for an auspicious address. I think I\u2019d be okay with anything up to $5,000 extra, but I wouldn\u2019t pay more than that.\u201d<\/span><\/p>\n

Cherise, 36, teacher:<\/strong> \u201cNo way. I don\u2019t believe that an address can influence my luck in any way. Actually, if given a choice, I\u2019d rather pick the unlucky address so that I can save money!\u201d<\/span><\/p>\n

Jason, 42, business owner:<\/strong> \u201cI\u2019d pay 5 digits for an auspicious address. I\u2019m quite picky when it comes to buying property – everything has to be good, including the level of the unit, the direction it\u2019s facing, the shape of the unit, and of course, the address. Some of my friends say my standards are too high, but at the end of the day, if I\u2019m going to be living at this place, I want to feel good about it.\u201d<\/span><\/p>\n

Liting, 40, marketing manager:<\/strong> \u201cI didn’t even know that auspicious addresses were a thing! It never crossed my mind that an address ending with the number 4 would be unlucky – so nope, I wouldn’t pay more for an auspicious address.\u201d <\/span><\/p>\n

Lucky addresses in Singapore<\/b><\/h3>\n

Thinking of purchasing property with an auspicious address? You don\u2019t need to restrict yourself to apartments that end with \u201c8\u201d – here are some other properties in Singapore which have auspicious names! <\/span><\/p>\n