Central China Management — a sister business of Central China Genuine Estate, the most significant developer in the central province of Henan — explained in a recent advertisement that it will accept down payments of wheat for houses in Minquan county.
The advert was posted on the firm’s formal WeChat account this 7 days. Purchasers can use the grain to offset as considerably as 160,000 yuan (practically $24,000) of their down payment. The new homes the enterprise is featuring market for involving $100,000 and $124,000, according to Leju Holdings, a serious estate solutions service provider.
Wheat isn’t the only pantry staple that is part of the developer’s marketing marketing campaign.
In a independent ad very last thirty day period, the business claimed that it was eager to acknowledge garlic as down payment for a residential undertaking in Qi county in Henan province.
Henan province is a big creation hub in China for the two wheat and garlic.
Central China Management did not respond to a ask for for remark, and deleted its wheat advert from WeChat on Wednesday. The marketing campaign has been greatly claimed in Chinese media, and was trending on social media.
A current study by China Authentic Estate Information and facts, a non-public investigate company, indicated that revenue by the country’s prime 100 builders collapsed 59% in May from a year ago.
In the meantime, much more developers are coming up with imaginative approaches to spur product sales.
Poly Serious Estate, a single of the country’s prime builders, said it would present customers a 100-kilogram (220-pound) hog if they invest in a home at its household job in Lianyungang town in jap Jiangsu province. The corporation even supplied to have the pig slaughtered for prospects.
“Obtain a dwelling and get a 200-catty ‘Peppa’ pig. Get a fantastic daily life in a single stop,” read through the ad, posted on the firm’s WeChat account previous 7 days, making use of the well-liked British cartoon character to refer to the hog.
A “Catty” is a standard Chinese unit of pounds and equals 500 grams. A 200-catty hog is worth about 1,630 yuan ($242), dependent on latest govt pricing information. Homes in the undertaking price tag involving $184,000 and $260,000, according to Leju’s details.
Poly Actual Estate did not reply to a ask for for comment.
Corrected: An before variation of this story incorrectly attributed the wheat and garlic ad campaigns to an affiliated firm.