A dispute over parking spaces in a Chinese apartment complex has recently sparked a wave of controversy on social media.
A few years ago, after thorough research, Ms. Duong (China) decided to purchase an apartment in a new complex. While preparing the necessary paperwork for her new home, she stumbled upon a unique business opportunity.
At that time, the transportation infrastructure around her apartment building was still underdeveloped, and residents could easily park their cars for free on the street. This led to most residents being reluctant to spend money on purchasing a parking space in the basement from the developer, even though the price was reasonable at only 50,000 – 60,000 CNY (175 – 210 million VND).
However, as the complex neared completion and more residents moved in, the need for parking spaces became evident. Seizing the opportunity, Ms. Duong negotiated with the developer to buy the remaining vacant parking spaces to run a profitable business.
After finalizing the legal procedures, she purchased 196 parking spaces for approximately 1 million CNY (equivalent to 3.5 billion VND). Her prediction proved correct, as after the complex was completed, the surrounding commercial areas thrived, and residents could no longer park for free on the streets.
When they realized that all the parking spaces had been bought by Ms. Duong and were being resold at double the original price of 100,000 CNY (350 million VND), some residents felt aggrieved. She refused to rent out the spaces and would only sell them.
The residents of the complex repeatedly negotiated to buy the parking spaces at the original price, but Ms. Duong remained firm on her asking price of 100,000 CNY (350 million VND). Frustrated and angry, several families banded together, putting pressure on Ms. Duong and even resorting to insults. They accused the apartment management of colluding with her to make a profit.
However, the management defended their actions, stating that they had publicly announced the availability of parking spaces before the sale, giving residents the opportunity to purchase them. Since there were no takers at that time, the sale to Ms. Duong was legal and transparent.
According to Article 276 of the Chinese Civil Code, as cited by NetEase 163, parking spaces in apartment complexes should first meet the needs of residents. However, if the residents are informed but choose not to purchase, the developer has the right to sell to individuals like Ms. Duong. Therefore, her actions were legally sound.
Ms. Duong is well within her rights to use, commercialize, and transfer ownership of the parking spaces, which are her personal property. The pricing is subject to market demand, and as long as the prices are reasonable, it is a legitimate business venture.
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