Developers let Chinese farmers pay for homes with watermelons

📆 7/3/2022 3:08 PM
📰 ChannelNewsAsia

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BEIJING: Struggling developers in China have started taking payment for homes in watermelons, peaches and other agricultural produce, state media reported Sunday (Jul 3), as they attempt to lure buyers deterred by a property market slump. China's housing market has been hit by a slowing economy and de

BEIJING: Struggling developers in China have started taking payment for homes in watermelons, peaches and other agricultural produce, state media reported Sunday , as they attempt to lure buyers deterred by a property market slump.

One developer in the eastern city of Nanjing said it would accept truckloads of watermelons worth up to 100,000 yuan as downpayment from local farmers, state-run China News Weekly reported. Homebuyers in Qi county, a major garlic-producing region in central China's Henan province, can exchange their produce at three times the market price to settle part of their down payment.

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