Why property developers in China accepting house payments in watermelons, wheat
- Property developers would allow home buyers to make a maximum payment of 5,000 kilograms of watermelon, valued at 100,000 yuan.
Real estate firms in China have now started accepting payments for homes in watermelon, wheat, garlic and several other agricultural produce, Chinese daily The Global Times reported. Realtors in tier-3 and 4 cities are encouraging home buyers to pay part of the house payment with wheat and garlic.
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As per the report, this move is a part of the 'food-for-home’ scheme devised by the property dealers in an attempt to boost sales and to attract farmers to purchase homes. "Property developers would allow home buyers 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 scheme’s promotion read.
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