Smart investment or monopoly? Woman's ₹20 crore parking space bet sparks legal feud in China
Confident in the area's future growth, the woman struck a deal with the financially struggling developer to purchase 196 parking spaces—amounting to 40 per cent of the community's total parking inventory—in a single transaction
In a real estate dispute in Changsha, Hunan province, China, a woman named Wu purchased 196 parking spaces for nearly $2 million (₹19.36 crore) in 2018. At the time, the housing project lacked basic amenities and drew little interest from buyers, leading to Wu's acquisition of 40% of the community's parking inventory. As the neighbourhood grew, Wu raised rental and sale prices significantly, effectively monopolising essential infrastructure.
Neighbours accused her of price gouging and sued her, arguing that parking spaces are essential community infrastructure that should not be controlled by a single individual. In 2024, a court ruled in Wu's favor, stating that her purchase was legal and that there are no restrictions on the number of parking spaces an individual may own.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
