Saturday, March 17, 2007
Private Property Rights in China
It looks as if this chap will need a heliopad to commute to his property. I am surprised that the developer could not use expropriation laws. If the villa owner were poor I am sure there would be no problem.
House is an island
Developers have turned a house into an island in China after the owner refused to move out.
The villa now stands alone in a 30ft deep man-made pit in Chongqing city, reports Jinbao Daily.
The Chongqing Zhengsheng Real Estate Company wants to turn the area into a £40m 'Broadway' square, including apartments and a shopping mall.
But the owner of the villa says he won't move out unless the company pays his price - the equivalent of £1.3 million.
"The villa owner refuses to move, so the real-estate developer has had to dig out all around it to force him to," says a saleswoman at Weilian Real Estate Sales Company.
"He wants 20 million yuan, or he'll stay till the end of the world."