To boost sales, property developer Central China Real Estate is offering a"swap wheat for house" promotion for homes in Minquan County, Henan Province,reported, referring to a now-removed ad on the company's official WeChat account. Priced at RMB2, or around R5, for every catty (some 600 grams, buyers can pay up to 160,000 yuan, or R390,000, of their down payment with wheat. Prices of houses in the development range from RMB600,000 to RMB900,000.
The promotion will end on July 10 and is targeted at farmers in the region, an agent from Central China Real Estate toldThe company is no stranger to launching marketing campaigns targeting farmers.
"Due to the significant changes to the macro environment of the property sector in China since the second half of 2021 and the impact of Covid-19, the Group has experienced a noticeable decline in its contracted sales in recent months," Shimao wrote in a
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