Recently, Alibaba’s judicial auction platform put up two properties of a commercial building in Chongqing for auction. The assessed value of the two properties is 3.01 million RMB, with a starting price of over 1.92 million RMB. However, the outstanding property management fees and late fees amount to a staggering 1.086 million RMB. According to the announcement, the buyer is required to cover the outstanding fees, sparking discussions among netizens.
The announcement revealed that the subject of the auction is two units located at Building 2, 90 Jinkai Avenue, North New Zone, Chongqing, which were listed for auction by the Shenzhen Intermediate People’s Court.
Reported by “Extreme News” on February 16, the two properties are situated on the 15th floor of the Palm Spring International Center in Chongqing, with areas of 150.7 square meters and 222.18 square meters respectively. The property owner is involved in a criminal case and was transferred to the prosecutor for indictment by the public security authorities in 2022.
The judicial auction platform stated that the assessed value of the properties is 3.01 million RMB. They were first listed for auction on October 23, 2025, with a starting price of 2.118 million RMB. However, the court withdrew the auction citing the need to verify new financial leads. Subsequently, the Shenzhen Intermediate People’s Court listed the properties for auction twice, at 3.01 million RMB and 2.41 million RMB respectively, but both auctions failed due to lack of bidders. The upcoming auction is set to start on March 4 with a starting price of 1.92 million RMB, and as of now, there are no bidders.
As per the court announcement, during an on-site investigation on July 8, 2025, the Shenzhen Intermediate People’s Court found that the two properties were unoccupied and in a state of vacancy. They are currently owing a total of 1,086,342.51 RMB in property management fees and late fees, as well as unspecified amounts for water and electricity bills.
The announcement’s reminder that “the buyer shall verify and bear the property management fees and late fees independently, and shall bear any legal consequences that may arise” has sparked discussions on social media.
Some netizens commented that people usually participate in judicial property auctions to find bargains, but in this case, a property valued at 3.01 million RMB owing over a million in property fees is not a bargain but a risky investment. Others pointed out that without any profit potential, it would be difficult to sell this property.
It was reported that multiple attempts to contact the court consultation phone number published in the announcement were unsuccessful.
On February 15, a staff member from the Palm Spring International Center property management confirmed that the two properties mentioned are currently undergoing judicial auction proceedings. Apart from the property management fees, the owner also owes over 200 RMB in water bills.