Irish real estate and superstition
Have you ever thought about how much culture and superstition can influence our lives? Many people, in fact, tend to be guided (or avoid making some choices) precisely from local popular beliefs. And in Ireland the situation has taken on really excessive dimensions, affecting even the real estate.
According to the data collected by the main statistics, the Irish real estate sector is strongly affected by the number 13. In fact, being considered an unlucky number for addresses in Ireland, many tend not to buy real estate with that domicile or even avoid it as a date for real estate transaction.
We dare not imagine what would happen if we joined on 13 also on Friday! Although it may seem paradoxical, in Ireland, on this date, a decrease in volume transactions was detected, as it is considered as one of the most unfortunate days of the whole year. Let's look at the numbers though. It could make you be stunned, but it is the reality of the facts, that the buildings with the number 13, have a cheaper value of almost 5,000 euros compared to the national average.
The research has been carried out on a historian of the last 10 years and, noting that the situation has not changed, we can imagine that the strong link with tradition and superstition in Ireland is quite rooted. Economist Ronan Lyons, an economist at Trinity College in Dublin, began with a thought that makes a lot of reflection on the subject.
This is how it expressed itself:
"While in the collective imagination, we think of the real estate market as something extremely rational, determined by great forces, which are revealed during the exchange, every property needs a buyer and a seller, that is, individuals having their own vision of world. A cultural background, therefore, that comes into play along with other small factors.
Superstition in Ireland therefore plays a fundamental role in the choices of potential investors. The properties with the number 13 are cheaper than the average property, and despite everything, when it comes to transactions, people have a tendency to avoid doing business on Friday 13th! "
The more than exhaustive explanation of the economist, therefore, indicates how it is possible even in real estate to be influenced by logics far from rationality.
But what are the positive aspects for the Irish real estate market? No doubt purchases from international portfolios will be little linked to these superstitious traditions.
Reason for which, foreign investors, will find unique opportunities in Ireland on Friday 13th or by buying properties with this number. If we observe the wide-ranging situation instead, it is not possible to understand what the forecasts for the future will be. It is hoped a priori that this circumstance may always fit well into the Irish and international market, without negatively altering its balance.
However, if you are curious to learn more, we invite you to stay updated on our portal, to receive all the news concerning the world real estate market!
According to the data collected by the main statistics, the Irish real estate sector is strongly affected by the number 13. In fact, being considered an unlucky number for addresses in Ireland, many tend not to buy real estate with that domicile or even avoid it as a date for real estate transaction.
We dare not imagine what would happen if we joined on 13 also on Friday! Although it may seem paradoxical, in Ireland, on this date, a decrease in volume transactions was detected, as it is considered as one of the most unfortunate days of the whole year. Let's look at the numbers though. It could make you be stunned, but it is the reality of the facts, that the buildings with the number 13, have a cheaper value of almost 5,000 euros compared to the national average.
The research has been carried out on a historian of the last 10 years and, noting that the situation has not changed, we can imagine that the strong link with tradition and superstition in Ireland is quite rooted. Economist Ronan Lyons, an economist at Trinity College in Dublin, began with a thought that makes a lot of reflection on the subject.
This is how it expressed itself:
"While in the collective imagination, we think of the real estate market as something extremely rational, determined by great forces, which are revealed during the exchange, every property needs a buyer and a seller, that is, individuals having their own vision of world. A cultural background, therefore, that comes into play along with other small factors.
Superstition in Ireland therefore plays a fundamental role in the choices of potential investors. The properties with the number 13 are cheaper than the average property, and despite everything, when it comes to transactions, people have a tendency to avoid doing business on Friday 13th! "
The more than exhaustive explanation of the economist, therefore, indicates how it is possible even in real estate to be influenced by logics far from rationality.
But what are the positive aspects for the Irish real estate market? No doubt purchases from international portfolios will be little linked to these superstitious traditions.
Reason for which, foreign investors, will find unique opportunities in Ireland on Friday 13th or by buying properties with this number. If we observe the wide-ranging situation instead, it is not possible to understand what the forecasts for the future will be. It is hoped a priori that this circumstance may always fit well into the Irish and international market, without negatively altering its balance.
However, if you are curious to learn more, we invite you to stay updated on our portal, to receive all the news concerning the world real estate market!
