Estimating the effect of superstition on house price in Malaysia

Regardless of levels of development and modernization, superstitious belief still exists in modern society. Superstition in housing market is prevailing and has a very strong impact in purchasing of a residential house. Using a sample of 10,312 transacted data of high-end (condominium) residential apartments (including studio) in Kuala Lumpur, from 2010 to 2020, this study aims to estimate the effects of lucky and unlucky floor and house numbers on the house prices. Results of regression analysis reveal that the house price is found to be significantly influenced by the lucky and unlucky numbers. Moreover, their effects are found to be symmetry. The other significant determinants of house price are the availability of public transportation services, swimming pool, gym, and property age.