Why did Chinese real estate companies sell homes in exchange for garlic, watermelons and peaches?

3 hours ago

photo released, Getty Images

Chinese companies working in the real estate sector announced that they are accepting the sale of their homes in the barter system for food instead of money, in an effort to attract buyers.

Over the past months, companies have published promotional advertisements that talk regarding sales deals in a way that allows citizens to buy new homes in return for paying home down payments by supplying agricultural products, including peaches, watermelons and garlic.

Despite this, some companies withdrew those exceptional offers.

And home sales in China recorded a decline for 11 months in a row, which caused major companies operating in the sector to default on their debts this week.

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