Uncertainties about land leases throw China homeowners' wealth in doubt
The law does not say whether they have to pay for the renewal of expired leases and what would happen to those with shorter leases
Thu, Jun 02, 2016 - 5:50 AM
The unassuming Henghe North neighbourhood was turned upside down by Ms Wang's discovery. Local apartment owners started checking their lease documents. Chinese reporters went door to door, especially in Ms Wang's building.
CHEN Furong and his wife bought their home 23 years ago for its proximity to the city centre and for the tree-lined canal just outside. Their dream was to pass it on to their children and grandchildren, a piece of wealth giving their family a share of China's economic...