A businessman has signed an interesting campaign for the real estate market, which has stagnated after the strict coronavirus rules applied in China. Within the scope of the campaign, wheat and garlic started to be accepted as a down payment in house sales. In house sales, companies also offer buyers opportunities such as free parking or renovating the real estate after the sale.
COMPANIES ARE TRYING TO INCREASING HOUSING SALES
Real estate developers have been trying to boost sales after sales went downhill between January and May, as concerns persisted that a deeper correction in real estate prices, in addition to strict coronavirus restrictions in China, could undermine China’s 5.5 percent economic growth target.
WHEAT AND GARLIC CAMPAIGN
An ad by Henan-based Central China Real Estate company titled “Wheat to house swap” states that buyers are seeking a 160,000 yuan ($23,900) down payment on one of their crop real estate projects, priced at 2 yuan per “catty”, a unit of weight in China, which amounts to about half a kilo. It says they can use it.
The sales representative of the company, who answered the questions when the phone number on the ad was called, stated that this campaign, which started yesterday and will end on July 10, is mainly aimed at the farmers in the region. The sales representative, who did not want to be named, stated that the company is offering residential projects in central Henan with an approximate value of 600,000 to 900,000 yuan.
Central China Real Estate did not respond to Reuters’ questions.
In another announcement of the company last month, it was stated that 5 yuan per pound of garlic would be accepted for a down payment on one of the different housing projects.
According to the announcement in the launch, the garlic swap campaign attracted 852 visitors in the last 16 days and generated 30 sales transactions covering approximately 516 tons of garlic.
The wholesale market prices of garlic and wheat are 1.5 yuan per pound.
THERE ARE ALSO CAMPAIGNS LIKE FREE PARKING AND HOME RENOVATION
Other campaigns offered by real estate development companies to buyers include free parking or the renewal of the real estate after the sale.
Source: Reuters