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If There Were No Eminent Domain

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China House

An interesting story out of China. Thanks to eminent domain, this kind of thing couldn't really happen in the U.S.

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."

(Courtesy Boing Boing via Real Estate Bloggers)

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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