To circumvent local government's restriction on sharp price drop, Chinese real estates developers literally handed out gold ingots to home buyers. - eviltoast
  • LoamImprovement@beehaw.org
    34·
    1 year ago

    This means that real estate developers are saying “I can’t sell this house for $250K but I can sell it for $300K and give you a 1Kg ingot worth $50K” to get around the overvaluing of the house, because people won’t buy the house at the prices Chinese government insists they should be sold.