Home sales in China measured by floor area have slid for 11 consecutive months and were down 31.5 percent in May compared to the same month last year, official data shows
Beijing, China - Struggling developers in China have started taking payment for homes in watermelons, peaches and other agricultural produce, state media reported on 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.
