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."

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