China’s Developers Try to Revive Moribund Home Sales for Golden Week
- Date: 29-Apr-2022
- Source: The Wall Street Journal
- Sector:Real Estate
- Country:Middle East
China’s Developers Try to Revive Moribund Home Sales for Golden Week
Some Chinese property developers are heading into the May Golden Week holiday with a blitz of promotions, hoping to jump-start apartment sales after authorities across the country made it easier for people to purchase homes and obtain mortgages.
Debt-laden China Evergrande Group, which has defaulted on its international bonds and is preparing for a complex restructuring, recently rolled out deals, discounts and other purchasing incentives for 10,000 apartments at 413 projects nationwide around the coming five-day Labor Day public holiday that starts April 30.
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