Some Chinese developers, who are desperate to offload unsold homes, are resorting to ingenious ways to lower prices. In their own way, they seem to be circumventing rules against excessive discounting. Earlier, Freshplaza already reported that Chinese property developers already accepted wheat and garlic as payment.
Now, developers in some small cities have offered to also accept watermelons and peaches as down-payment substitutes, reducing the amount of cash buyers need upfront and effectively making properties cheaper.
This week, one developer said buyers can use watermelons to offset as much as 100,000 yuan ($14,935) for an apartment in Nanjing in eastern Jiangsu province.
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