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In business, August is considered the ‘quietest’ time of the year due to superstitions revolving the Chinese belief of “Ghost Month”. During this period, it is believed that spirits return to visit the living, making the month the peak of bad luck. Superstitious people follow certain beliefs in order to not attract negative energy and be bothered by these spirits.
The real estate industry has its fair share of Ghost Month superstitions. Chinese superstitions suggest against making decisions, buying property, or even moving to a new home, office, or space. This is rooted with the belief that bad spirits may follow and cause misfortune for the business owners or buyers. Despite these beliefs, superstition should not stop you from investing in property. After all, investing in real estate is for the long-term.
Here are some tips to outsmart superstition and make the best real estate decision.
Research to minimize risk
It is always good to back up your investment decisions with research. The success of your real estate investment depends on how well you are able to gather and analyze information. Doing proper research and basing business decisions on actual property market data can help you weigh your options and create a strategic move for business. Overall, doing research based on facts is a better way to fare through the month.
Data over Emotions
One of the biggest don’ts during Ghost Month is making major business decisions based on emotions. According to Chinese superstition, this can also attract bad fortune. Making decisions based on emotions over facts can put business at risk, since details may be overlooked details that could backfire negatively. It is normal to feel all types of emotions, especially when making a major investment or property decision, however when facing the decision, it is important to be rational. Take your time to do research about the property you’re investing in and review and clarify details if necessary.
Be mindful throughout each transaction step and always take action
Business is usually slow during Ghost Month. Some businesses pause pending transactions or construction of their developments, due to the belief that the sound coming from construction sites could disturb the spirits. Keeping transactions and developments on hold will eventually lead to delays and may even let your competitors get ahead of you. Don’t be afraid of getting necessary things done even during Ghost Month. If you’re still worried that something may go wrong, better anticipate and coordinate with your trusted real estate broker so that you will be assured that things are going smoothly throughout each step in the property transaction or construction.
Take advantage of the best property prices
One of the common superstitions during Ghost Month is avoiding buying real estate properties or moving into a new home or office. This led to the belief that real estate transactions during the month of August are lower compared to the other months of the year. However, KMC Research noted that this belief doesn’t translate to lease and sales transactions during August. A smart real estate investor will continue their property search and real estate transactions, regardless of what month it is. When transacting a property during Ghost Month, always remember to do your research, be rational, and be mindful, in order to ensure success for your real estate investment.
Ghost Month should not be a period to be afraid of investing. Instead, turn fortune to your favor and capitalize on the opportunities with smart business decisions backed by the latest property market insights.
KMC offers a range of real estate services in order to guide you in making the best real estate investment that suits your needs. Need assistance in making the best real estate decision this ghost month? Reach out to Jose Carmelo Porciuncula at (+63) 917-592-2726.
For inquiries and more information about KMC’s Investment Advisory services, call us at (+63) 2-8403-5519 or email [email protected] today!