In a paper presented two years ago, called "Superstition in the Housing Market," Nicole Fortin, professor of economics at the University of British Columbia, found that home buyers in Chinese neighborhoods in the metro Vancouver region were willing to pay a premium for lucky numbers in their street addresses. (click below to read more)
Ms. Fortin says buyers paid a premium of 2% to 3% for homes prices that ended with an eight, while sellers had to accept a 2% discount if they were selling a house that ended with a four. The trend was most pronounced among luxury homes.
"It's a luxury to get that number. It's considered to be prestigious," she says.
Brent Chang, a real-estate agent in San Marino, Calif., explains the thinking: "If you have a listing, and the address is 180, you know Asian buyers will be very interested in the house because it's so hard to change the address."
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