Her decision angered residents, who took her to court over the bulk purchase and resale of the parking spaces, reported the South China Morning Post. Years later, as demand for parking increased, she began renting them out at higher rates and put some up for sale at a significant markup. A woman in China bought 196 parking spaces in a residential community for US$2 million (Rs 19.36 crore) when few people were interested in them.
The dispute took place in a residential community in Changsha, Hunan province. The neighbourhood developed rapidly, homes in the residential block sold quickly, and demand for parking spaces increased. Many residents believed she should sell the spaces at their original rates. Her decision angered residents who were already struggling to find available parking spaces. A government official was sent to mediate the dispute, but the efforts failed to resolve the matter. An undisclosed number of residents then joined together to take Wu to court. They argued that parking spaces were an essential part of a residential community’s infrastructure and should not be monopolised by one person seeking to make a profit through resale.
Because it lacked essential public facilities such as shops, schools and public transport options, at the time, many people were doubtful about its future. The project was completed and put on the market in 2018, according to Hunan TV. When residents requested that she reduce the rent to 300 yuan (Rs 4,334), she refused. Wu also listed her parking spaces for sale at around US$15,000 (Rs 14.52 lakh) each. Some were priced up to 80 per cent higher than their original values.
