New thinking in real estate, China market(s) of the day

by on April 26, 2009 at 7:28 am in Current Affairs | Permalink

Who needs Match.com?

Jin Tai Cheng, a Beijing company, is offering a creative solution for
prospective buyers at its "Ecological Bay" Villa project. The company
encourages future homeowners to date its sales girls and promises a
wedding present of RMB 60,000 to any couple that ends up getting
married. The official story is that the company lured the sales ladies
with a commitment to pay 8% in sales commissions as well as the
opportunity to strike gold by securing a wealthy husband.

Here is the story.  Yet rarely is a market as simple as it sounds at first.  It seems they are trying to pair up "lesser" prospects without portraying them as such:

…a local Real Estate executive I spoke to pointed out that the
girls on offer are not that attractive. His theory is that the
developer is not making money on selling apartments and so it signed a
deal with a matchmaking agency to marry these "unwanted" girls to rich
husbands. In return, the developer will receive much more than RMB
60,000 for every girl they manage to "give away". This way, the girls
don't lose face by putting themselves on sale, the husbands don't lose
face by going directly to an agency to look for a bride, and the
developer makes a nice profit. In a country with too many apartments
and not enough girls, this doesn't sound like a bad idea.

I thank The Browser for the pointer.

Jacob Wintersmith April 26, 2009 at 8:19 pm

This set of arrangements is rather confusing. Who is paying the matchmaking company?

Zamfir April 27, 2009 at 3:06 am

Jacob says: This set of arrangements is rather confusing. Who is paying the matchmaking company?

The girl (or her family) pay to a be employed, and the houses sell for a premium.

raivo pommer-www.google.fi April 30, 2009 at 4:48 am

Die US-Notenbank weckt Hoffnung auf ein Ende der schwersten Rezession seit Jahrzehnten. Den Leitzins aber lässt sie unverändert.

Die US-Notenbank weckt Hoffnungen auf Licht am Ende des düsteren Konjunkturtunnels. Zwar sei die größte Volkswirtschaft der Welt in den vergangenen Wochen weiter geschrumpft, doch habe sich das Tempo scheinbar verlangsamt, teilte die Federal Reserve (Fed) am Mittwoch mit.

Ein Hoffnungsschimmer auch an der amerikanischen Verbraucherfront: Zwar drückten Arbeitslosigkeit, gesunkener Wohlstand und schwierige Kreditbedingungen weiterhin auf die Kauflaune. Doch gebe es bei den Verbraucherausgaben “Zeichen der Stabilisierung”, hieß es von der Fed nach der turnusgemäßen Sitzung ihres Offenmarktausschusses.

Die Fed sei zuversichtlich, dass die Maßnahmen zur Stützung des Finanzsektors Wirkung zeigten und dazu beitragen, dass sich “schrittweise” wieder Wachstum einstelle. Inflationsrisiken sieht die US-Notenbank zunächst nicht am Horizont – im Gegenteil. Der Preisauftrieb könne sogar “für einige Zeit” unterhalb der Rate bleiben, die gut für das Wirtschaftswachstum seien.

Daryl Sage January 6, 2011 at 9:51 pm

Anyone would think that this is a crazy marketing idea for real estate but this idea might actually work for all the sides involved. The constructor gets to sell it’s products, the girls get a rich husband and the buyer gets a wife and a free wedding. To me it really sounds like a win win win situation.
Daryl Sage | South Carolina reverse mortgage agent

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