In the midst of the economic slowdown in the world, Chinese builders are struggling a lot to sell their homes. According to Chinese media reports, Chinese builders have started accepting watermelon, papaya, other fruits and agricultural products as payment in exchange for houses.
Significantly, due to inflation, the economy of almost all the big countries around the world is going through a crisis. For this reason, the effect of the slow pace of the economy is being seen in the Chinese real estate market. At the same time, keeping in mind the debt crisis, a few days ago, the Chinese government had also refused builders to take token money from construction customers.
Chinese state media China News said in its weekly report that a developer in the eastern city of Nanjing has said it is ready to accept a million yuan worth of watermelons as a down payment for the house. At the same time, another developer from Vusi, another city, says that he has offered to take peaches as a down payment to home buyers.
In China’s Henan province of Qi County, which is known for the country’s highest production of ginger, builders have offered to get ginger from farmers at three times the market price in exchange for a down payment for houses.
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Builders in China are not only ready to take farmers’ crops at expensive prices, but are also offering farmers big discounts on buying houses. Announcing the offer on social media, a builder named Central China Management said that on the occasion of the new ginger season, the company has made an offer for the farmers of Q County so that more and more farmers in the area get the benefit of it. The company said that since the launch of the offer, we have sold more than 30 houses.
Official data shows that domestic sales in China on a floor area basis have declined for 11 consecutive months, with a 31.5 percent decline in May compared to the same month last year.