The tactic, once used by China Evergrande Group in its heyday, is part of Poly’s sales push campaign. Some of Poly’s upmarket residential projects in Guangdong and Sichuan provinces did the same, the report said.
Some Chinese property developers are betting the country’s home-price slump will soon end following the announcement of long-awaited stimulus measures.
State-owned Poly Developments and Holdings Group, China’s biggest builder by sales, is offering homebuyers full refunds at a project in eastern Wenzhou city if prices drop further below their purchasing costs before the homes are delivered, an official local newspaper reported Thursday.
