HONG KONG—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.
One advertisement of Henan-based Central China Real Estate that had “swap wheat for house” in the title says buyers can use the crop, priced at 2 yuan per catty, a Chinese unit of mass equal to roughly 500 grams, to offset as much as 160,000 yuan ($23,900.22) of down payment in one of its developments.
