Real estate buyers reduce taboos in the 7th lunar month to invest effectively

In folk beliefs, the seventh lunar month is often called the "ghost month" or "Ngau month", which is associated with many spiritual taboos.

Previously, this had a strong impact on the real estate market, causing transactions to almost stagnate every time this month came. However, according to experts, the fear has changed significantly in recent years, as home buyers and investors increasingly put practical factors above traditional beliefs.

Mr. Do Linh Dan, a real estate broker in Ho Chi Minh City, said that most customers are no longer too afraid to buy a house in the 7th lunar month. "Buyers pay more attention to price and whether the location is suitable or not. If they find a house they like but wait until the end of July, the opportunity may have passed. Moreover, notarization and legal procedures also depend a lot on the authorities, so everything cannot be decided by date or month. Therefore, my transactions this month are still regular, no less than in other months," Mr. Linh Dan shared.

However, Mr. Nguyen Vinh, a salesman at a large real estate company in Ho Chi Minh City, said that there are still some customers, especially those buying their first home, who are cautious this month. They often choose to pay in advance and wait for the time to pass before closing the deal. On the contrary, for those who do not care about spiritual factors, this is an opportunity to buy a house at a good price, because many homeowners need to sell quickly. "There are many cases where buyers close deals in the 7th lunar month, then resell them just a few months later with high profits," Mr. Vinh said.

From a psychological perspective, Master Quang Thi Mong Chi, lecturer at the University of Social Sciences and Humanities, Ho Chi Minh City, analyzed the concept of the "ghost month" which is associated with traditional beliefs and spiritual taboos but is gradually losing its absolute influence on the real estate market. "Surveys show that today's home buyers, especially young people from 25 to 40 years old, approach the problem in a more pragmatic way. They are no longer too worried about taboos, but see real estate as a long-term investment or a real need. The way of thinking with basis, data, and needs is gradually replacing the traditional way of thinking with taboos" - Ms. Chi emphasized.

This change also comes from the strategy of investors. Many real estate businesses have taken advantage of the 7th lunar month to launch strong promotions and incentives such as price reductions, interest rate support, and valuable gifts. The "buy when others are hesitant" mentality has encouraged a group of customers to proactively seek opportunities to negotiate prices, thereby receiving more benefits. In addition, many people are worried that if they hesitate, they may miss out on apartments in good locations and reasonable prices, so they decide to pay this month.

In fact, the real estate market, especially in the apartment segment, is recording a clear shift in consumer behavior. Factors such as "feng shui" are gradually giving way to "reasonable price and demand". The taboo of the Ghost Month is no longer a big barrier as before, instead, investors and real buyers increasingly rely on financial analysis, actual needs and legal factors to make decisions.

Source: https://nld.com.vn/nguoi-mua-bat-dong-san-bot-kieng-thang-7-196250915220056715.htm