The Hauntingly Good Property Market: Buyers Seek Out Spooky Season Deals

Unexpectedly Vibrant Trading

According to folk belief, the seventh lunar month (also known as the “ghost month” or Ngâu month) is considered an inauspicious time for major undertakings, from weddings to buying homes, building houses, or purchasing vehicles. This used to cause the real estate market to almost freeze during this period. However, observers have noted that in recent years, this reluctance has diminished, giving way to more practical calculations by both investors and homebuyers.

Mr. Nguyen Ngoc Long, a Hanoi-based real estate broker, said that contrary to popular belief, his company has been busiest during this lunar month for many years. This is because many developers offer significant promotions to stimulate demand.

“The seventh lunar month can now be considered the ‘sale season’ for real estate. During this period, real estate agents actively seek out customers to close deals by leveraging the attractive offers from developers. Ever since I entered the real estate industry, the seventh lunar month has always been the highest-performing month in terms of sales,” shared Mr. Long.

Mr. Nguyen Van Duy, an investor in Dong Anh, Hanoi, also noted that investors are solely focused on opportunities. When opportunities arise, they will jump into investments. Meanwhile, the seventh lunar month often offers a range of products with attractive prices and policies, making it understandable that they would invest heavily during this period.

Sharing the same viewpoint, Ms. Le Thanh Huyen, a real estate agent, mentioned that despite it being the “ghost month,” her clients still close deals as usual. Her clients primarily invest in assets such as land plots, shophouses, and villas in provinces neighboring Hanoi. Therefore, as long as they find attractive prices, favorable locations, reputable developers, and clear legal frameworks, they will proceed with the purchase, paying little attention to the seventh lunar month, especially in potential areas like Poy Yen (Thai Nguyen), Tu Son (Bac Ninh), and Van Giang (Hung Yen)…

A leader of a real estate company shared that, for many years, customers have not been hesitant about the seventh lunar month, especially the younger generation, who largely ignore this superstition. For those who are superstitious, they often make a deposit first and then sign the contract later. However, there are also those who prefer to buy during this month because the prices are usually lower. In some years, this period has been the best-selling time.

Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, believes that the superstition of avoiding the seventh lunar month was more prevalent when the market was smaller. Now that the market has grown, this mentality has gradually faded. In recent years, real estate transactions during the seventh lunar month have not shown significant differences compared to adjacent months.

This is not only due to the changing mindset of buyers but also because businesses have proactively attracted customers through appealing sales programs. Many developers even allow customers to make deposits and postpone the contract signing while still enjoying exclusive promotions applicable during the seventh lunar month.

Mr. Nguyen Anh Que, Chairman of the G6 Group, shared that although only a third of the “ghost month” has passed, the company’s transaction volume has equaled the total of the previous four months—a figure indicating that purchasing power has not ‘frozen’ as many people think. Buyers understand that the seventh lunar month is a time for negotiating better prices and enjoying significant advantages.

According to Mr. Que, developers still launch projects close to the seventh lunar month or even at the end of the sixth lunar month, unlike before. Buyers’ perspectives have also shifted, and they are now more inclined to seize opportunities when they find good prices and suitable products rather than being overly concerned about the timing.

In reality, as the superstitious mentality has diminished, many people now view the seventh lunar month as an opportunity to “hunt for bargains.” This is partly because the number of interested customers decreases, reducing competition, and partly because developers introduce their most attractive sales policies of the year during this period.

Should You Buy a House During the Seventh Lunar Month?

According to experts, the seventh lunar month is a favorable time for people to buy houses for living or investment purposes, as it is when developers introduce various promotional policies.

For example, the City Rise project in Poy Yen, Thai Nguyen, by the developer Bac Thang Long Thanh Dong, currently offers a program called “Golden Season of the Seventh Lunar Month – Receive Gold and Reap Luck.” They gift eight taels of gold for land plots, 14 taels of gold for villas, and two taels of gold for completed Bizhome products.

Similarly, at Noble Palace Tay Thang Long in Hanoi, the developer applies a “massive” promotion, offering gifts worth VND 280 million when signing a contract to purchase a house.

Mr. Dinh Minh Tuan, Director of PropertyGuru Vietnam’s Ho Chi Minh City branch, stated that homebuyers should not be overly concerned about the seventh lunar month. Instead, they should consider financial factors and the opportunity to buy at a good price.

For investors, the critical factors determining their “buy and sell” decisions are not the seventh lunar month but rather maximizing profits, ensuring positive cash flow, and facilitating smooth transactions.

The seventh lunar month is when many developers introduce promotional policies to stimulate demand, and buyers can easily “bargain” with sellers. These factors create favorable conditions for purchasing.

In reality, according to Mr. Tuan, there has been a significant shift in the home-buying mentality of Vietnamese people, who no longer heavily weigh the superstition of avoiding the seventh lunar month. They now prioritize the day of moving into the new house over the day of purchase.

Mr. Vu Cuong Quyet, CEO of Dat Xanh Mien Bac, also shared that as the real estate market continues to grow, the notion of avoiding the seventh lunar month is gradually fading.

For many people, the “ghost month” is an ideal time to invest, as it is easier to find “bargain” products during this period. Many projects launched during this time offer more attractive promotions than at other times of the year. Investors will seize opportunities to make profits rather than focusing on superstitions, thus maintaining stable transaction volumes.

“The notion of refraining from buying a house during the ‘ghost month’ is no longer considered a limitation as it was in the past, and the real estate market is evolving with changes in the perceptions and behaviors of buyers and investors,” emphasized Mr. Quyet.

According to real estate experts, the essential consideration when buying a house is choosing the house’s direction and the feng shui of the doorways rather than avoiding the seventh lunar month for purchases or construction.

The act of signing a purchase contract and moving into the new house are two separate events. If one still wants to be cautious, they can complete the legal procedures, make the purchase, and then choose an auspicious day to move in later.

Many feng shui experts believe that the superstition of avoiding the seventh lunar month lacks scientific basis. It is merely a folk belief that has not been proven or studied. Overly adhering to this superstition may cause one to miss out on favorable investment opportunities.