Chinese developers are attempting to sell homes by offering free hogs and wheat as down payments - Janesdiary

Chinese developers are attempting to sell homes by offering free hogs and wheat as down payments

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Chinese developers are attempting to sell homes by offering free hogs and wheat as down payments.

 

To entice buyers, some Chinese real estate developers would do everything.

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The unorthodox sales techniques highlight the dismal status of China’s enormous real estate market, from accepting grain or garlic as partial payment to providing live pigs as an enticement to purchasers. Since developer Evergrande defaulted on its debt last year as the economy deteriorated, a sales decline has increased.

 

The largest developer in Henan’s center province, Central China Real Estate, recently announced in an advertisement that it will accept wheat as a down payment for homes in Minquan county.

 

This week, the advertisement was published on the business’s official WeChat account. Grain can be used by buyers.

Buyers may deduct as much as 160,000 yuan (almost $24,000) of their down payment using the grain. According to Leju Holdings, a provider of real estate services, the new homes the company is providing sell for between $100,000 and $124,000.

 

 

In order to purchase a home in Minquan county, Henan province, Central China Real Estate is accepting wheat as a down payment.

The developer’s marketing effort includes more pantry essentials than just wheat.

 

 

The company stated in a different advertisement from last month that it would accept garlic as a down payment for a home project in Qi County, Henan Province.

 

 

“The corporation has made a firm decision to help garlic producers in Qi on the occasion of the new garlic season.

Buyers may deduct as much as 160,000 yuan (almost $24,000) of their down payment using the grain. According to Leju Holdings, a provider of real estate services, the new homes the company is providing sell for between $100,000 and $124,000.

 

 

In order to purchase a home in Minquan county, Henan province, Central China Real Estate is accepting wheat as a down payment.

The developer’s marketing effort includes more pantry essentials than just wheat.

 

 

The company stated in a different advertisement from last month that it would accept garlic as a down payment for a home project in Qi County, Henan Province.

 

 

“The corporation has made a firm decision to help garlic producers in Qi on the occasion of the new garlic season.

farms in Qi County,” the company claimed in a late-month WeChat post. It said, “We are lovingly assisting farmers and making it simpler for them to purchase homes.”

 

 

Garlic can be used as a down payment for homes in Qi county, Henan province, according to a Central China Real Estate advertisement.

Both wheat and garlic are produced in large quantities in China’s Henan province.

 

 

In addition to removing the wheat advertisement from WeChat on Wednesday, Central China Real Estate did not reply to a request for comment. The campaign was trending on social media and was widely covered by Chinese media.

On Tuesday, a Weibo user stated, “This is a hard indication how weak home demand is.”

 

The housing market in China is in A weakening economy, tough Covid regulations, and a debt crisis that is spreading among developers have all contributed to a severe downturn in the Chinese real estate industry. According to official figures released last week, property sales decreased by 31.5 percent from January to May, sharply more than the 21 percent decline seen in the first four months of this year.

 

According to a recent poll by China Real Estate Information, a private research company, sales by the top 100 developers in the nation fell by 59 percent in May from a year earlier.

By cutting mortgage rates and loosening guidelines for home purchases, authorities have stepped up their attempts to boost home sales.

More developers are simultaneously coming up with creative strategies to boost sales.

 

 

One of the top developers in the nation, Poly Real Estate, declared that it would give One of the leading builders in the nation, Poly Real Estate, promised to give buyers who buy a home at its residential development in Lianyungang city, eastern Jiangsu province, a 100-kilogram (220-pound) hog as a gift. Even offering to slaughter the pig for consumers, the business.

 

“Get a 200-catty “Peppa” pig when you buy a house. Get a happy life all at once, “The advertisement, which used the well-known British cartoon character to refer to the hog, was uploaded on the company’s WeChat account last week.

 

 

500 grams make up a “catty,” which is a traditional Chinese unit of weight. According to the most recent government pricing data, a 200-catty hog is valued approximately 1,630 yuan ($242). Leju’s records show that houses in the project range in price from $184,000 to $260,000.

 

A request for response from Poly Real Estate was not answered.

China produces and consumes the most pork in the world because it is the country’s staple meat.

About Post Author

Janesdiary

I am a highly sought-after personal and business branding coach, marriage and Relationship therapist, a blogger and an entrepreneur. I have been blessed with the opportunity to work with some of Africa's most successful entrepreneurs. My success is as a result of my unrelenting passion for excellence in all that I do. My mission is to help people attain their desired goals by teaching them how to be more confident, better communicators and better decision makers. [email protected]
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