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When price is BIG issue, should we consider ‘Alternative’ property?

Many times, we want to find a cheap property but we do not want to buy a small-sized one. Yet we do not want to buy too far away that an hour of drive is necessary to reach office everyday. I am okay with up to an hour of driving but for some they could not accept this fact. So, cheap price, big sized and nearby the city centre. Any other potential choice? Haha. Actually, we could sometimes see some of these odd deals even in the property listing sites. Somehow, it’s much lower than the other units which were also being advertised. Maybe the owner is just desperate to sell but what if the unit was HAUNTED? Here’s one Good article in StarProperty.my for reference. 
The writer Victor Chong shared that property prices in the market are not affected by just the built up size or the numhber of rooms and bathrooms, it may be affected by events such as tragedies and deaths that have occurred in the property before. Many Malaysians are fearful of ghosts but they fear rising property prices too. He shared a story of a Hong Kong “King of Haunted Flats” who is well known for buying haunted flats of also known as “hongza” properties. For example, he bought a 325 sq ft condo unit that had a double suicide for just over HK$1mil (RM515,243) in 2012, 30% less than the market rate. Ng speculated that the apartment might be worth around HK$4.4mil (RM2.2mil) in another eight years time. According to Ng, the heavy discounts for haunted apartments have narrowed from about 30% in 2013 to about 10% this year. Previously, he was able to buy such houses at around a 40% discount. Here’s that Good article in StarProperty.my for reference. 
My earlier article here:  Buying Haunted properties?  By the way, someone told me that whether the haunted house will affect you or not depends on the religion. For example, if the tragedy happened to someone of a different faith, it should not affect the buyer if he is not of the same religion. Frankly, I have no idea but the feeling of buying a place which does not give me a good feeling is not my cup of tea. Haunted or not, let’s understand that many times, we may be able to feel something different with the unit we were viewing or even places that we visit. It’s good to trust that feeling and skip the unit in my opinion. We are going to spend a few hundred thousand Ringgit or more, it’s best to buy something we are comfortable with.
Then there is this question of what happens if the price is really low? Say 40 percent lower than the market? 😛  The discount may be worth to get services from professionals who could perform some forms of exorcism? Some may also think that with such a huge savings, perhaps a total renovation with lots of bright lights perhaps will change that uncomfortable feeling. For friends who tell me that they are not scared of all these ‘unknown’ elements, they are able to enjoy some of these ‘perks’ from buying a haunted unit. In Malaysia, we are not that advanced that these listings are listed as such. However, a little asking around would usually yield some of these potential units. Happy searching for one.
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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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