From ultra low down payments begun last year to the installment plan on down payments now, housing developers have been taking pains to uncover various ways to stimulate the market and promote sales.

Zhang Hongming is a real estate expert at the Shanghai Academy of Social Sciences.

"Under the current market situation, we should give this installment plan on down payments some applause. It provides consumers tangible benefit, relieving their pressure on having to raise cash. But this benefit is subtle and indirect."

The scholar thinks the new promotional plan will be able to stimulate sales somewhat, but he doesn't expect the effect to be too significant. He says developers should provide more direct rewards for customers, such as price cuts.

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