2018 could be bringing some good fortune.
The number eighteen is known to be a lucky number in Chinese culture. Pronounced 'shi-ba’, it sounds similar to the word 'shi-ba;', which means to “definitely get rich”. Eighteen brings with it promises of prosperity and success, which could make 2018 a lucky year for real estate deals.
The market’s already seeing buyers move on this. Reported by the Wall Street Journal, Janet Wang of Corcoran Group says she’s had numerous clients take a more serious approach to buying.
Carrie Law, chief executive at Juwai.com said, “One Beijing-based buyer put off closing on a New York City home in the $5 million range so they could purchase it in the new year instead. There may have been other factors at play, but that’s the reason they gave us.”
If you’re into the power behind numbers, double-down and keep an eye on the eighth month, August, as an even more attractive time to buy. For some Chinese buyers, lucky numbers can play a role in more than just when, they can also dictate where. Addresses or prices with eight or eighteen are found to be attractive. In contrast, addresses containing the number four are often avoided. Four, pronounced ‘sei’ in Cantonese, sounds just like the word ‘séi’ which means “death.”
Numerology doesn’t just impact Chinese buyers, it can also have an impact on buyers in markets with high activity from Chinese investors. Property addresses containing lucky numbers can be perceived to have a high resale value while an inverse occurs for addresses with unlucky numbers. Other communities have also been known to put weight in the power behind numbers. In the Jewish community, the number eighteen has a positive connotation. 18 or chai in Hebrew also means life and could move the needle as well.
Only time will tell if numerology plays a role in the 2018 housing market but it’s definitely something to keep an eye on.