(Yicai) Aug. 15 -- The Nanjing branch of real estate developer China Merchants Shekou is trying to tempt home buyers with additional perks such as part ownership in private aircraft.

Anyone buying a unit in a residential project in Nanjing, capital of China’s Jiangsu province, will receive a package worth CNY200,000 (USD27,925) that includes a 5 percent stake in a plane, pilot training and flying license, and 100 hours of flight time, China Merchants Shekou Nanjing said in a WeChat post yesterday.

The promotional campaign, which started early this month, is for 143-square-meter apartments with four bedrooms, a salesperson told Yicai. Buyers can opt to have CNY200,000 taken off the price of the unit they are buying instead, if they prefer. While most opt for that, some do go for the aviation package, the person noted.

Extravagant marketing methods reflect the huge pressure builders are under to attract customers, said Yan Yuejin, vice director of the E-House China Research and Development Institute. They are still eager to boost their liquidity, even though the real estate market in Nanjing has recovered to some extent this year, Yan added.

Opened in August 2022, the housing project in equation has more than 1,700 apartments, but about 100 are still on the market, according to the employee. Prices range from about CNY45,000 (USD6,285) per sqm, for a total of between CNY5.3 million and CNY8.1 million (USD740,000 and USD1.1 million) per unit. The average price was CNY520,000 per sqm a year ago.

Editors: Tang Shihua, Futura Costaglione