Desperate Chinese property developer ready to ‘swop wheat for house’
The Straits Times|June 24, 2022
A desperate developer in China’s softening property market is coming up with a novel promotion to attract buyers, recently offering to take wheat and garlic as down payments.
Desperate Chinese property developer ready to ‘swop wheat for house’

HONG KONG • One advertisement of Henanbased developer Central China that had “swop wheat for house” in the title says buyers can use the crop, priced at two yuan per catty (roughly 500g), to offset as much as 160,000 yuan (S$33,000) of down payment for a unit in one of its developments.

A central China sales agent who answered the phone number on the advertisement said the promotion, aimed mainly at farmers in the region, started on Monday and will end on July 10. The development in Henan offers houses for around 600,000 to 900,000 yuan, said the agent, who declined to give her name.

This story is from the June 24, 2022 edition of The Straits Times.

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This story is from the June 24, 2022 edition of The Straits Times.

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