China's No. 3 Developer Starts Selling Homes Cheap. What Gives?

Residential buildings stand in Qinhuangdao, Hebei province, China, on Friday, Oct. 28, 2016. China's top overseas bond fund said Chinese property dollar bonds are still worth holding because the government won't allow a real estate slump even as it seeks to curb a bubble.Photographer: Qilai Shen/Bloomberg

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By Bloomberg News

February 12, 2018 at 1:23 AM UTC

This article is for subscribers only.

Billionaire Hui Ka Yan’s China Evergrande Group, the nation’s number three by sales last year, has started selling homes cheap.

A 12 percent discount will apply to many apartments ahead of a week-long Chinese New Year holiday, the firm said late last week. Sweeteners include down-payments by installment.