Smart investment or monopoly? Woman's ₹20 crore parking space bet sparks legal feud in China

What happened: A woman in Changsha, China bought 196 parking spaces, about 40 per cent of a community's inventory, then raised rents and sale prices. Residents sued her for monopolising essential infrastructure. Key numbers: Purchase of 196 spaces for 14 million yuan (about ₹20 crore) in 2018. Rent of $75 (₹7,258) per month, roughly double the 2018 rate. Why it matters: In February 2024 a Changsha court ruled for Wu, finding the bulk purchase legal and noting residents had an equal chance to buy but declined, and that laws set no limit on individual parking space ownership.

A woman in Changsha, China bought 196 parking spaces, about 40 per cent of a community's inventory, then raised rents and sale prices. Residents sued her for monopolising essential infrastructure.

In February 2024 a Changsha court ruled for Wu, finding the bulk purchase legal and noting residents had an equal chance to buy but declined, and that laws set no limit on individual parking space ownership.