Vanke offers discounts to Taobao shoppers
[BEIJING] China Vanke Co, the country's biggest developer, teamed up with Alibaba Group Holding Ltd to offer discounts of as much as US$325,000 to home buyers who also shopped on the e-commerce company's Taobao Marketplace.
Vanke will grant discounts of two million yuan (S$405,860) on select properties if the home buyer spent more than two million yuan on Taobao in the last year, according to a statement on Taobao's website. Spending one yuan makes buyers eligible for a 50,000 yuan rebate.
Vanke and other developers have cut prices since March to lure homebuyers amid a slump in the nation's property market, according to China Real Estate Information Corp. Last month, new-home prices fell in the most cities tracked by the government since January 2011, as tight mortgage lending deterred buyers.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
After S$160 million makeover, SingLand eyes better take-up, higher rents at Singapore Land Tower
US renters seeing chance of owning a home at record low: NY Fed survey
Shenzhen eases home buying to revive sales in China tech hub
Far East Orchard looks to sell Rendezvous Hotel Perth Central for A$18.5 million
Lendlease Global Reit’s committed portfolio occupancy rises to 88.8% in Q3
No bids for Pine Grove’s mega en bloc sale at S$1.95 billion price