Chinese language builders are accepting wheat and providing free hogs

Chinese developers are accepting wheat and offering free hogs

From accepting grain or garlic as part payment, to offering live pigs as an incentive to buyers, the unusual sales tactics underline the dire state of China’s vast real estate industry. A collapse in sales has accelerated since developer Evergrande defaulted on its debt last year as the economy has slowed.

Central China Real Estate, the largest developer in the central province of Henan, said in a recent advertisement that it will accept down payments of wheat for houses in Minquan county.

The ad was posted on the company’s official WeChat account this week. Buyers can use the grain to offset as much as 160,000 yuan (nearly $24,000) of their down payment. The new homes the company is offering sell for between $100,000 and $124,000, according to Leju Holdings, a real estate services provider.

Wheat isn’t the only pantry staple that is part of the developer’s promotion campaign.

In a separate ad last month, the firm said that it was willing to accept garlic as down payment for a…