Developers let Chinese farmers pay for homes with watermelons ...Middle East

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Developers let Chinese farmers pay for homes with watermelons
source : Daily Sun ( Middle East ) () 15
BEIJING: Struggling developers in China have started taking payment for homes in watermelons, peaches and other agricultural produce, state media reported Sunday, as they attempt to lure buyers deterred by a property market slump.China's housing market has been hit by a slowing economy and debt crisis precipitated by a government ban on builders taking deposits before construction begins on a project.One developer in the eastern city of Nanjing said it would accept truckloads of watermelons worth up to 100,000 yuan as down payment from local farmers, state-run China News Weekly reported.In the nearby small town of Wuxi, another developer was taking peaches as payment, the magazine said.Homeb

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