Thursday, February 5, 2009
Possibly the most perverse buyer incentive scheme ever?
For young homebuyers facing the downturn, the offer from the Shanghai Sanxiang Co was unmissable. Buy a flat – and we'll give you a job to go with it. The developers, who have so far hired eight buyers, say the deal demonstrates their sense of social responsibility. Others think it says as much about the fear gripping the market as house prices in China tumble after soaring growth. Other Shanghai companies are slashing as much as 30% from the price of flats.