... Poly Real Estate, one of the country’s top developers, said it would gift buyers a 100-kilogram (220-pound) hog if they purchase a home at its residential project in Lianyungang city in eastern Jiangsu province. The company even offered to have the pig slaughtered for customers.

 

 

Wheat down payments and free hogs: How Chinese developers are trying to sell homes

 

Laura He, CNN Business

via WTOP News (MD) - June 22, 2022

 

Some Chinese property developers are going to extreme lengths to attract buyers.

 

From accepting grain or garlic as part payment, to offering live pigs as an incentive to buyers, the unusual sales tactics underline the dire state of China’s vast real estate industry. A collapse in sales has accelerated since developer Evergrande defaulted on its debt last year as the economy has slowed...

 

... A recent survey by China Real Estate Information, a private research firm, indicated that sales by the country’s top 100 developers collapsed 59% in May from a year ago...

 

... Poly Real Estate, one of the country’s top developers, said it would gift buyers a 100-kilogram (220-pound) hog if they purchase a home at its residential project in Lianyungang city in eastern Jiangsu province. The company even offered to have the pig slaughtered for customers.

 

“Buy a house and get a 200-catty ‘Peppa’ pig. Get a good life in one stop,” read the ad, posted on the firm’s WeChat account last week, using the popular British cartoon character to refer to the hog...

 

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https://wtop.com/asia/2022/06/wheat-down-payments-and-free-hogs-how-chinese-developers-are-trying-to-sell-homes/