The deep recession in China’s property market has compelled real estate companies to float a bizarre marketing strategy to lure home buyers.
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Last Updated on July 4, 2022 00:04 IST & # xD;
& # xD; The deep recession in China’s real estate market has forced real estate companies to float a bizarre market strategy to lure homebuyers. China’s real estate developers have begun accepting payments for homes in watermelons and other agricultural products. ” to download excess housing inventory, “Global Times reported. One programmer. in Nanjing said it would allow homebuyers to pay for their homes using watermelon at 20 yuan per kilogram, according to Global Times.The media quoting a company representative said the bizarre advertising event was halted after order. “We were told to remove all advertising posters on social media platforms,” the representative said, noting that they can design other types of advertising activities. A poster for the promotional event starting June 28 through the July 15, says the owner would allow homebuyers to make a maximum payment of 5,000 kilograms of watermelon, valued at 100,000 yuan, noting. the purpose of the promotion is to support local watermelon farmers. The property market has been one of the few favorite destinations for home savings. The developers and homebuyers also wanted to take out loans from the banks, but these good days for China ended last year.The domestic debt affected more than USD 10 trillion. And about 27 percent of bank loans in China are linked to real estate, reported a think tank, Policy Research Group (POREG). This industry was known as the biggest job creator in China but now it is called “Lehman moment”. , in comparison to the 2008 bankruptcy of Lehman Brothers, which was a trigger for the global financial crisis. More so, w then the number of empty homes exceeded l a 65 million (90 million according to some estimates) – enough to house the population of France, and has raised the spectrum of a global economy on crutches. The housing market in China is now seen as a ‘national threat’ buildings, according to Think Tank citing the New York Times. Developers borrowed money in the form of terrestrial and foreign bonds, reliable loans, and wealth management products, in addition to bank loans. . Thus, lenders range from institutions to the general public both at home and abroad. (Only the title and image of this report may have been rewritten by the Business Standard staff; the rest of the content is automatically generated from a syndicated feed.) & # XD;
The deep recession in China’s property market has forced real estate companies to float a bizarre market strategy to lure homebuyers.
China’s real estate has begun to accept payments for homes in watermelons and other agricultural products.
“Real estate developers in Chinese third- and fourth-tier cities have launched various advertising campaigns recently, including encouraging homebuyers to pay part of their down payment with wheat and garlic, to entice farmers to buy newly built homes to unload surplus housing inventory,” Global Times reported.
One developer in Nanjing said it would allow homebuyers to pay for their homes using watermelon at a rate of 20 yuan per kilogram, according to Global Times.
The media quoting a representative of the company said the bizarre advertising event was suspended after an order from the headquarters.
“We have been ordered to remove all advertising posts on social media platforms,” the representative said, noting that they may design other types of advertising activities.
A poster for the advertising event starting from June 28 to July 15 says that the owner would allow homebuyers to make a maximum payment of 5,000 kilograms of watermelon, valued at 100,000 yuan, noting that the purpose of the promotion is to support local watermelon farmers. .
The home market was one of the few favorite destinations for household savings. The developers and homebuyers also wanted to take out loans from the banks, but these good days for China ended last year.
The domestic debt affected more than $ 10 trillion. And about 27 percent of bank loans in China are linked to real estate, reported a think tank, Policy Research Group (POREG).
This industry was known as the largest job creator in China but now it is referred to as the “Lehman moment”, in comparison to the 2008 bankruptcy of Lehman Brothers, which was a trigger for the global financial crisis. Moreover, when the number of empty homes exceeded 65 million (90 million according to some estimates) – enough to house the population of France, and raised the spectrum of a global economy on crutches.
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The housing market in China is now viewed as a “national threat” because prices are rising high, as are buildings, according to the Think Tank citing the New York Times. Read also : China launches high-tech aircraft carrier at naval milestone.
Developers have borrowed money in the form of terrestrial and foreign bonds, trust loans and wealth management products, in addition to bank loans. Thus, lenders range from institutions to the general public both at home and abroad.
(Only the title and image of this report may have been rewritten by the Business Standard staff; the rest of the content is automatically generated from a syndicated fluid.)
