Central China Real Estate, the largest real estate developer in the central province of Henan, said in a recent advertisement that it would accept advance payments in the form of wheat for homes in Minquan County.
The announcement was posted on the company’s official WeChat account this week. Buyers can use grain for compensation up to 160,000 yuan. (nearly $24,000) of their down payment. According to Leju Holdings, a real estate services provider, the new homes the company is offering are selling for between $100,000 and $124,000.
Wheat is not the only staple in the pantry that is part of the developer’s promotional campaign.
In a separate announcement last month, the firm said it was willing to accept garlic as a down payment on a residential project in Qi County, Henan Province.
Henan Province is a major wheat and garlic production center in China.
Central China Real Estate did not respond to a request for comment and removed the wheat ad from WeChat on Wednesday. The campaign was widely covered in the Chinese media and actively discussed on social networks.
A recent survey by private research firm China Real Estate Information showed sales of the country’s top 100 property developers fell 59% in May from a year earlier.
Meanwhile, more and more developers come up with original ways to stimulate sales.
Poly Real Estate, one of the country’s leading developers, said it would give buyers A 100-kilogram (220-pound) pig if they buy a house in her apartment complex in the city of Lianyungang in eastern Jiangsu province. The company even invited customers to slaughter a pig.
“Buy a house and get Peppa Pig for 200 cats. Get the good life in one stop” Read the ad posted on the firm’s WeChat account last week using a popular British cartoon character for the boar.
“Katty” is a traditional Chinese unit of weight equal to 500 grams. A pig for 200 cats costs about 1,630 yuan ($242), based on the latest government price figures. According to Ledge, the homes in the project cost between $184,000 and $260,000.
Poly Real Estate did not respond to a request for comment.