Woman Buys 196 Parking Spots And Sells To Neighbours For Profit
The woman from China also won a lawsuit filed by her furious neighbours.
Cover image via Follow us on Instagram, TikTok, and WhatsApp for the latest stories and breaking news.
A bitter neighbourhood dispute over a parking monopoly has taken social media by storm in China
According to South China Morning Post, the controversy centres on a woman named Wu, who won a February 2024 lawsuit against furious Changsha residents.
Neighbours had attempted to annul a contract granting her ownership of 40% of the community's parking spaces.
The drama began in 2018 when the property project was completed and struggled to attract buyers.
Lacking basic public transport and shops, most residents passed on purchasing the parking spots.
Image for illustration purposes only.
Image via New Straits TimesHowever, Wu anticipated future growth and bought 196 spaces from the cash-strapped developer for 14 million yuan (RM8.53 million)
Her gamble paid off when the area rapidly developed, causing a surge in parking demand.
To capitalise on her investment, Wu installed locks on her spaces and hiked the rental rates.
She leased the spots for 500 yuan (RM305) per month and rejected requests to lower the fee to 300 yuan (RM185).
She also sold spaces at 100,000 yuan (RM61,000) each, marking prices up by 80%.
Outraged residents formed a collective and took her to court after mediation failed
Despite claims that parking is essential community infrastructure, the Changsha court ruled entirely in Wu's favour.
The court noted that residents originally had the chance to purchase the spots but chose to forgo the risk.
Online opinions were divided, with some praising the woman's business acumen and others criticising her for being selfish.
