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. Central China Real Estate did not respond to a Reuters request for comment. Late last month, another Central China advertisement said buyers of houses in another development could make down payments in garlic at 5 yuan per catty. The garlic promotion attracted 852 visits and 30 transactions involving 860,000 catties of garlic during the 16 days it was available, the advertisement said. The wholesale market price for both garlic and wheat is 1.5 yuan per 500 grams.

Source: The Standard June 21, 2022 16:19 UTC