Tuesday, September 16, 2008

Unlucky to Buy Homes during Seventh Month

Singapore still holds it's traditions and taboo when it comes to culture although it is a modern society. That is because of the prominent drop in housing sales in the Seventh Lunar Month that celebrates Hungry Ghost Festival recently. This period is deemed as unlucky to buy a house, start a business, get married and travelling too. Growth for private homes had slowed down since March but the slump was down to as much as 81 percent in the month of August. Developers also put up fewer new projects during this August month.

Perhaps now that the Hungry Ghost month is over, the market for property will remain steady and show a rise in market conditions.

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