Back to the complete issue
Friday, 23 September 2016

In Hong Kong, there is a website tracking deaths to help you find cheaper rent

A Hong Kong website tracking deaths to help you find cheaper rent: If there’s something strange, in your neighborhood, who ya gonna call? In Hong Kong, that would be tech startup spacious.hk and not ghostbusters (although from the looks of it the latter would do well there), because it could mean cheaper rent. The company has been capitalizing on Chinese superstitions and tragic events to help expatriates and young Chinese residents unfazed by a possible spiritual presence to find cheaper apartments. The company tracks and plots out real estate where tragic deaths have been reported in the local media and police reports and overlays it on a map of Hong Kong – giving potential tenants and owners an insight into cheaper apartments, according to Vice: Motherboard.

Feng shui, the Chinese philosophical system of harmonizing everyone with the surrounding environment to help generate good luck, remains a potent cultural force developers in Hong Kong factor into their projects, so much so that the Hong Kong government has admitted to spending mns worth of GBP’s in order to rebalance the feng shui of its construction projects. That, mixed with a pathological fear of ghosts, has been driving prices down on properties where deaths have occurred. For instance, a gruesome double homicide in J Residence, one of Hong Kong’s most luxurious residential buildings, back in 2014 saw the apartment’s price drop by half. The belief is so powerful, realtors often spread rumors about deaths in properties pitched by rivals. With the insane rental prices of Hong Kong it is not surprising that spacious.hk’s braver visitors have used the haunted house overlay some 5,000 times a month.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.