China: Wheat, Garlic as down payment for new houses

Wheat for House as Down Payment? This is the latest offer in China to woo new buyers. A Henan-based real estate player in Central China made the offer in an advertisement that had “swap wheat for house” in the title.

Buyers can use the crop, priced at 2 yuan per 604 grams, to offset as much as $23,900.22 of down payments for its houses, goes the tag line in the Advt mainly aimed at farmers, says a media report, which says the home prices start at $90,000.

The promotional campaign started this week and will end on July 10.

Another Central China player last month offered to take down payments in garlic.

The real estate market in China often dubbed as a bubble is struggling to boost sales.  The freebees on offer range from free parking slots to renovations after purchase.