Developers sweeten deals to attract buyers as home demand weakens

Property developers in two of China's weakest housing markets are offering to buy back homes above the purchase price to boost sales as demand slows.

In Hangzhou, where home prices fell the most in May among 70 Chinese cities watched by the government, Shanheng Real Estate Group is giving homebuyers an option to sell back their apartments in five years for 40 percent above the purchase price.

In Wenzhou, DoThink Group is offering to repurchase homes at three of its projects for 120 percent of the purchase price after three years.