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Gold bars used to lure Chinese homebuyers amid market slowdown

News Snapshot:

Gold bars, new cars and mobile phones are among the incentives being offered to potential homebuyers by Chinese property developers as they grow increasingly desperate to boost sales. Huafa Tianfu, a developer in the eastern city of Hangzhou, has been offering up to a kilo of gold bullion to tempt people into buying its flats. According to local media reports, the amount of gold ranges from 700g of gold for an 89 sq metre flat, to just over 1kg for a 100 sq metre apartment. Property prices in the development range from 2.2m yuan (£245,500) to 2.5m yuan. The promotion…

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