Showing posts with label Property rights in China. Show all posts
Showing posts with label Property rights in China. Show all posts

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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